PVC narrow finishing Position volume slightly decreased

News: The latest inventory data shows that as of July 27, East China's social inventory was 136,000 tons, down 2.
86%
from last week.
South China's social inventory was 58,000 tons, down 6.
45%
from last week.
The overall social inventory began to decline slightly, the South China market performance is obvious, some traders in South China have a tight supply recently, and even out of stock, port inventory is also at a low level
.

Upstream price: naphtha CF Japan reported 673.
5 US dollars / ton, up 0.
11%; FOB Singapore was trading at $73.
94 a barrel, up 0.
14%.

ethylene CFR Northeast Asia 1350 US dollars / ton, flat; CFR Southeast Asia was flat at $1235/mt
.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3060 yuan, flat
.

Spot market: CFR Southeast Asia was flat at $945; CFR China was flat at $960
.
North China calcium carbide law reported 6870 yuan / ton, flat; ethylene law reported 7,000 yuan / ton, flat; East China calcium carbide method reported 7010 yuan / ton, flat, ethylene method 7150, flat; South China calcium carbide method 7000 yuan, flat, ethylene method 7250 yuan, flat
.

PVC1809 contracts are narrowly consolidated, and positions are slightly reduced (the main contract is moving 1901 contracts).

Fundamentally, social inventories have fallen, and spot prices have been firm to form a certain support
for futures prices.

The technical indicator MACD oscillates to the upside, but the red bar shows signs of flattening and the KDJ indicator continues to hover
near the central axis.
At present, there is pressure on the futures price, and there is support below, and it is expected to maintain the pattern of range shock in
the short term.
Investors can sell high and sell low in the range between 6850 and 7100, with a stop loss of 80 pips
each.