PVC opens low and goes high, and the weak pattern has improved

News: As of June 19, PVC social inventory continued to decline slightly, with sample inventory falling 7.
2% month-on-month from last week and 3.
7% year-on-year; Among them, inventories in East China fell by 3% from last week, while they were flat year-on-year; Inventories in South China fell 16.
7% month-on-month and 12.
3%
year-on-year.

Upstream price: naphtha CF Japan reported 628.
25 US dollars / ton, up 1.
19%; FOB Singapore was trading at $69.
27 a barrel, up 1.
20%.

ethylene CFR Northeast Asia 1375 US dollars / ton, flat; CFR Southeast Asia was flat at $1260/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 $940; CFR China was flat at $935; North China calcium carbide law reported 6830 yuan / ton, down 20 yuan; Ethylene law reported 6900 yuan / ton, flat; East China calcium carbide method reported 6900 yuan / ton, flat, ethylene method 7050, flat; South China calcium carbide method 6950 yuan, down 50 yuan, ethylene method 7150 yuan, flat
.

PVC1809 contracts opened low and went high, and the weak pattern has improved
.
However, the intraday volume position price cooperation is not ideal
.
Fundamentally, the peak of device maintenance, social inventories continued to fall, and the stationing of environmental protection teams to inspect formed a certain support for futures prices, but the escalation of the Sino-US trade war and the decline in spot prices suppressed
prices.

Technical indicators, MACD green column flat, KDJ indicator, J value oversold rebound, short-term signs
of stopping.
Operationally, it is recommended to invest in the futures price rebound to the 6950 line to continue to try to sell short
.
Stop loss 7000
.