PVC rebound blocked, short orders set take profit

News: According to professional statistics, as of August 25, the price of vinyl chloride in Asia rose steadily, CFR Far East rose 10 US dollars / ton to 740 US dollars / ton, CFR Southeast Asia held steady at 740 US dollars / ton
.
Market news, PVC September new prices continued to hold steady at $960/mt
this week as Chinese PVC buyers were reluctant to accept new prices, especially with the influx of ocean-going cargoes from the United States and Europe.
In addition, Japan's production of vinyl chloride in July increased by 19.
7% from the previous month to 235058 tons, and its exports fell 2.
6% to 90,290 tons
.

Upstream price: naphtha CF Japan reported 659.
62 US dollars / ton, up 0.
11%; FOB Singapore was trading at $71.
76 a barrel, up 0.
04%.

ethylene CFR Northeast Asia 1395 US dollars / ton, flat; CFR Southeast Asia was flat at $1270/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 $960
.
North China calcium carbide law reported 7090 yuan / ton, down 10 yuan; ethylene law reported 7330 yuan / ton, flat; East China calcium carbide method reported 7050 yuan / ton, flat, ethylene method 7500, down 50 yuan; South China calcium carbide method 7220 yuan, down 80 yuan, ethylene method 7680 yuan, flat
.

The PVC1901 contract rebound was blocked, with a slight reduction in holdings and a weaker short-term trend
.
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 high is dead forked and diverges downward, but the KDJ indicator shows signs
of flattening low.
Operationally, investors set short orders in their hands to take profit and hold
them cautiously.