PVC position reduction rebound It is appropriate to wait and see for the time being

News: The caustic soda market bucked the trend and went up
.
Liquid alkali manufacturers in major producing areas such as Shandong and Hebei have successively raised their factory quotations, and some quotations have increased by more than
10% compared with before the Spring Festival.
Due to the chlor-alkali enterprise equipment, the spring maintenance is concentrated in
March ~ April.
In anticipation of increasing terminal demand in March, the lack of supply has strengthened the
market's rally mentality.

Upstream price: Naphtha CF Japan reported $557.
5 / ton, down 1.
46%; FOB Singapore was trading at $60.
65 a barrel, down 1.
59%.

ethylene CFR Northeast Asia 1335, up $25; CFR Southeast Asia was trading at $1250 a tonne, up $
20.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3120 yuan, flat
.

Spot market: PVC China CIF price was flat at $980; North China calcium carbide law reported 6420 yuan / ton, down 70 yuan; ethylene law reported 6600 yuan / ton, down 100 yuan; East China calcium carbide method reported 6300 yuan / ton, flat, ethylene method 6700 yuan / ton, down 150 yuan; South China calcium carbide method 6400, flat, ethylene method 7000 yuan, flat
.

PVC1805 contract reduced positions and rebounded slightly, indicating that there were short profit-taking
.
Fundamentally, spot prices have retraced, and during the two sessions, environmental protection efforts have increased, and the sluggish downstream demand has formed a certain suppression
of futures prices.
It is expected that the weak tidying pattern
will continue.
The future market focuses on whether the rebound can break through the upper pressure
.
Operationally, it is advisable
for investors to wait and see for the time being.