PVC oscillations go higher It is recommended to go long on dips

News: 1.
Inner Mongolia Yili 500,000 tons/year PVC device maintenance has ended, is currently in driving, and is expected to be fully opened at night
.
The current manufacturer pre-sale is better, and there is no clear quotation
today.

Raw material prices: 1, Japan naphtha CF Japan reported 607 tons, up 5.
75; naphtha FOB Singapore reported 66.
34 US dollars / barrel, up 0.
55
.
ethylene CFR Northeast Asia 1360, flat; CFR Southeast Asia was flat at $1270/mt
.

Spot market: The price of some domestic PVC spot market has risen.

North China calcium carbide law reported 6550 yuan / ton, up 60; ethylene law reported 6750 yuan / ton, up 50; East China calcium carbide method reported 6700 yuan / ton, down 50, ethylene method 6980 yuan / ton, flat; South China calcium carbide method 6720, flat, ethylene method 6950, up 100
.
Raw material prices were flat, East China reported 3150 yuan, flat, Northwest reported 3420 yuan, flat
.

On the demand side, in the off-season of demand in the north, the downstream operating rate fell, but considering the recovery of the downstream operating rate after the holiday, some merchants had pre-holiday bargain-hunting replenishment behavior, and the operating rate in South China was relatively stable; On the supply side, affected by replenishment in the short term, PVC upstream inventory decreased month-on-month, short-term supply pressure was not large, and the accumulation of
upstream before and after the Spring Festival was paid attention to in the later stage.
In the short term, under the influence of pre-holiday replenishment and inventory pressure, the futures price is prone to rise and fall
.

Technically, PVC1805 contract backtest five-day line support shock higher, short-term upper focus on pressure around 7000, below test support around 6850, futures price to maintain 6850-7000 range oscillation, recommended range bargain long
.