PVC opened slightly higher and the position volume decreased

News: Turkey's economy is struggling as investors lose confidence in the policies pursued by the Turkish government, and fiscal and monetary tightening is likely to exacerbate the situation
.
This has dealt a blow to
the construction industry and the commodities it uses.
Steel bars, raw material waste, PVC and tar used in cement plants are all in a hot state
.
The lack of buying interest in the Turkish market has caused concern throughout the EU, as 57% of the PVC imported by Turkey comes from the EU
.
The rest came from the United States (15%), Mexico (10%), South Korea (6%), Russia (4%) and Egypt (3%)
.
And a European market source said, "Turkish demand may fall by 20%
this year.
" Another European PVC market source said: "A lot of imported PVC is stored in warehouses and is not consumed
.
The Turkish domestic market is oversupplied
.
Importers have stopped buying
.
Imports will be reduced to a minimum in September
.

Upstream price: naphtha CF Japan reported 686.
5 US dollars / ton, up 1.
22%; FOB Singapore was trading at $74.
52 a barrel, up 1.
09%.

ethylene CFR Northeast Asia 1320 US dollars / ton, flat; CFR Southeast Asia was flat at $1215/mt
.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3290 yuan, flat
.

Spot market: CFR Southeast Asia was trading at $940, down $10; CFR China was trading at $930, down $
10.
North China calcium carbide law reported 6880 yuan / ton, down 10 yuan; ethylene law reported 7,000 yuan / ton, down 150 yuan; East China calcium carbide method reported 6890 yuan / ton, up 40 yuan, ethylene method 7300 yuan, flat; South China calcium carbide method 7020 yuan, down 30 yuan, ethylene method 7450 yuan, down 50 yuan
.

The PVC1901 contract opened slightly higher, and throughout the day it was arranged sideways around the intraday moving average, and the position volume decreased
.
Fundamentally, the strong price of calcium carbide has formed a certain support for the futures price, but the spot price is loose, and the willingness of downstream demanders to take goods is not strong, which suppresses
the futures price.

Technically, the MACD oscillation retreated, but the green bar flattened and the KDJ indicator hovered at a low level, with signs
of a golden cross upward.
Operationally, it is recommended that investors wait and see for the time being
.