PVC moving average horizontal finishing intraday drawdown and position reduction

News: In March 2018, China's polyvinyl chloride export volume was 73855.
02 tons, the cumulative export volume was 213916.
4 tons, the export amount of the month was 64.
9484 million US dollars, the cumulative export amount was 181.
0366 million US dollars, the average export price of the month was 879.
4 US dollars / ton, the export volume increased by 11.
60% month-on-month, the export volume fell 56.
11% year-on-year, and the cumulative export volume fell by 35.
46%
compared with the same period last year.

Upstream price: no new quotation of naphtha today, CF Japan reported 630.
25 US dollars / ton yesterday; FOB Singapore is trading at $69.
49 a barrel
.
ethylene CFR Northeast Asia 1285 US dollars / ton, flat; CFR Southeast Asia was flat at $1220/mt
.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3060 yuan, flat
.

Spot market: CFR China was flat at $940, CFR Southeast Asia was flat at $940; North China calcium carbide law reported 6800 yuan / ton, up 60 yuan; ethylene law reported 6950 yuan / ton, up 50 yuan; East China calcium carbide method reported 6880 yuan / ton, flat, ethylene method 7150 yuan / ton, flat; South China calcium carbide method 6830, flat, ethylene method 7130 yuan, flat
.

The PVC1809 contract relies on the five-day moving average to sort out horizontally, and reduce positions during the session
.
Fundamentally, factors such as the peak of device maintenance and the acceleration of traders' inventory reduction have formed a certain support
for the futures price.

Technically, the MACD oscillation is to the upside, but the KDJ has shown divergence, and there are signs of
a stronger oscillation.
Operationally, investors can hold long orders with caution
.