PVC opens low and goes high to show a short-term or rebound

News: In June, demand for PVC increased among major consumers in the CIS countries, but high export prices from European producers limited the growth
of purchases.
Recently, active negotiations have been held
on the price of European polyvinyl chloride (PVC) shipped to the CIS market in June.
According to the ICIS-MRC price report, with stable feedstock prices, SPVC shipped by European producers to the CIS market traded at €720-810/mt FCA in June, compared to €720-805/mt FCA
last month.

Spot market: The PVC market in Hebei has improved in the atmosphere, but the transaction is average, the downstream demand is not good, and the downward
trend is weak.
The price of 5 type material including tax is delivered at 6560-6680 yuan / ton, and some lower and higher prices have also been heard
.
The price of PVC market in Hangzhou is stable and adjusted, all parties are cautious, the adjustment range is limited, and the mainstream reference of calcium carbide type 5 is 6600-6770 yuan / ton self-pickup
.

Warehouse receipt inventory: the exchange warehouse receipt reported 2000 lots, which is in the historical median area, +0 lots
within the day.
Main positions: The top 20 long positions in the main contract are 164512 lots -3755 lots, short positions are 149680 lots, -5424 lots, and net long positions are 148032 lots, +1669 lots
.

Summary: The trend of crude oil is still weak, the Sino-US trade war intensifies, and downstream demand generally suppresses the price, but the increase in equipment maintenance has produced some support
for PVC prices.
Technically, PVC1909 opened low and went high, the trading volume rose sharply, and the position volume decreased
significantly.
The main position shows that the strength of the long position reduction is slightly less than the strength of the short position, and the long party is superior
.
On the indicator, the MACD low is flat, the green bar is contracting, and the KDJ indicator is low and the golden cross is low, indicating a short-term or rebound
.
The city pays attention to the support of the 6550 line, and operationally, it is recommended that investors operate in the 6550-6750 range
.