PVC fell sharply, indicating that the bears still have the advantage

In terms of news, the output of domestic PVC manufacturers in May 2019 was 1.
51084 million tons (excluding Formosa Plastics, Hunan, Guangdong, special and paste resin), down 4.
87% from April and 2.
98% from May last year, and a total of 7.
90307 million tons from January to May, an increase of 1.
28%
over last year.

In the spot market, the PVC market in Hebei has improved its sentiment, but the transaction is general, the downstream demand is not good, and the price fluctuates
slightly.
The price of Type 5 material including tax is delivered at 6650-6770 yuan / ton, and some lower and higher prices have also been heard
.
PVC market futures in the state region are weakly downward, the price of calcium carbide five-type material is reduced by 40-90 yuan / ton, and the mainstream price is 6750-6880 yuan / ton

Warehouse receipt inventory, exchange warehouse receipt reported 2000 lots, in the historical median area, +0 lots
within the day.
Main positions: The top 20 long positions in the main contract are 182406 lots +4468 lots, short positions are 176316 lots, +5713 lots, and net long positions are 6090 lots, -1245 lots
.

Summary: The high level of crude oil has fallen, the Sino-US trade war has intensified, and downstream demand has generally suppressed the price, but the increase in equipment maintenance and the decline in social inventory have produced certain support
for PVC prices.
Technically, PVC1909 fell under pressure, and the trading volume and position volume were slightly reduced
.
The main position shows that the strength of long position increase is not as strong as the strength of short position increase, and the short side has the advantage
.
On the indicator, MACD fell slightly, the green bar elongated, and the KDJ indicator was a low dead cross, indicating that the bearish force still prevailed
.
Operationally, short orders in hand continue to be held
cautiously.