PVC opens high and goes high to break through the upper pressure strongly

News: On March 30, 2018, the steel structure prefabrication of the steel structure of the methanol to olefin plant reverse regeneration and olefin concentration unit supervisor of the methanol to olefin plant of the 600,000 tons/year MTO project of Nanjing Chemical Industry Park undertaken by the Refining and Chemical Engineering Shijian Company began, marking the smooth start of the project
.
The 600,000 tons/year MTO unit of the Nanjing Chemical Industry Park project is expected to be CCCC
on February 28, 2019.
After the completion of the plant, it will have great significance
for the layout of coal chemical production in the Yangtze River Delta region.

Upstream price: naphtha CF Japan reported 582.
75 US dollars / ton, down 0.
89%; FOB Singapore was trading at $64.
19 a barrel, down 1.
09 percent
.
ethylene CFR Northeast Asia 1345, down $15; CFR Southeast Asia was trading at $1260/mt, down $
15.
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 $960, CFR Southeast Asia was flat at $960; North China calcium carbide law reported 6360 yuan / ton, flat; Ethylene law reported 6600 yuan / ton, flat; East China calcium carbide method reported 6480 yuan / ton, up 60 yuan, ethylene method 6750 yuan / ton, unchanged; South China calcium carbide method 6550, up 100 yuan, ethylene method 6800 yuan, flat
.

The PVC1809 contract opened higher and went higher, breaking through the upper pressure strongly, indicating that the bulls have the advantage
.
Fundamentally, high inventories, environmental protection inspections and other factors have formed a certain suppression
of the futures price.
However, the current improvement in downstream demand may support futures prices
.

Technically, the MACD low gold cross is up, and the KDJ indicator is volatile higher, indicating that the rebound is still expected to continue
.
However, the short-term has rebounded continuously, and there are certain technical pullback requirements
.
Operationally, investors can reduce their long positions and lock in profits
.