PVC opens low and goes low Position volume slightly decreased

News: According to the analysis of the transaction index tracked by professional institutions, as of August 31, market shipments rebounded slightly, but overall it remained at a low level, the total amount of PVC social inventory increased slightly from the previous week, and the sample inventory increased by 0.
6% from last week and 8.
9% year-on-year; Among them, the inventory in East China increased by 0.
8% from last week and 6.
8% from last year; Inventories in South China were stable month-on-month, up 15%
year-on-year.

Upstream price: naphtha CF Japan reported 680.
5 US dollars / ton, up 0.
13%; FOB Singapore was trading at $74.
16 a barrel, up 0.
07%.

ethylene CFR Northeast Asia 1365 US dollars / ton, flat; CFR Southeast Asia was flat at $1240/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 flat at $950; CFR China was flat at $950
.
North China calcium carbide law reported 6960 yuan / ton, down 50 yuan; ethylene law reported 7230 yuan / ton, down 100 yuan; East China calcium carbide method reported 6950 yuan / ton, down 100 yuan, ethylene method 7400 yuan, down 100 yuan; South China calcium carbide method 7100 yuan, down 120 yuan, ethylene method 7550 yuan, flat
.

Summary of views: PVC1901 contract opened low and went low, the position volume decreased slightly, and the short-term trend was still weak
.
Fundamentally, the loosening of spot prices and the decline of spot prices in many overseas places have put pressure on
futures prices.

Technically, the MACD shock has retreated, but the KDJ indicator has entered the oversold area and there are signs of flattening the low, and there may be a rebound
in the short term.
Operationally, stable investors can reduce their holdings at low prices and drop their pockets
.