PVC rebounded and closed slightly lower at the end

News: On August 10, MRC ScanPlast said that from January to July 2018, Russia's overall PVC production reached 551,800 tons, an increase of 4%
over the same period last year from 530,800 tons.
All units increased production, with Bashkir Soda seeing the largest
increase in production.
However, due to the planned shutdown of SayanskKhimPlast's plant, Russia's PVC production fell to 67,200 tons in July 2018 from 83,900
tons in the previous month.

Upstream price: naphtha CF Japan reported 634.
5 US dollars / ton, up 0.
06%; FOB Singapore was trading at $69.
32 a barrel, down 0.
14 percent
.
ethylene CFR Northeast Asia 1400 US dollars / ton, flat; CFR Southeast Asia was flat at $1260/mt
.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reported 3110 yuan, up 50 yuan
.

Spot market: CFR Southeast Asia was flat at $950; CFR China was flat at $960
.
North China calcium carbide law reported 7250 yuan / ton, flat; ethylene law reported 7400 yuan / ton, flat; East China calcium carbide method reported 7250 yuan / ton, down 70 yuan, ethylene method 7600, flat; South China calcium carbide method 7330 yuan, flat, ethylene method 7680 yuan, flat
.

Summary of views: PVC1901 contract rebounded and closed slightly lower
at the end.
Positions continue to increase
significantly.
Fundamentally, social inventories have fallen, and spot prices have been firm to form a certain support
for futures prices.
However, spot prices in many overseas places have declined, and they have risen continuously in the early stage, and there is also pressure to adjust in the short term
.

Technically, MACD has signs of a high dead cross, the red bar continues to shorten, and the KDJ indicator has signs of divergence downward, and short-term technical adjustments need to be
prevented.
Operationally, investors can hold short orders cautiously
.