PVC rebounded slightly, intraday drawdown and position reduction

News: The PVC market in Shanghai is weak, futures are mainly sorted, the market point price is more sourced, the spot price is reduced by 20-30 yuan / ton, and the actual order is mainly
negotiation.
Guangzhou PVC market price raised, calcium carbide five-type material mainstream price in 6950-6970 yuan / ton cash exchange, Qilu Chemical City PVC market rose steadily, some source prices increased by 30-40 yuan / ton, trading atmosphere is acceptable
.

Upstream price: naphtha CF Japan reported 658.
62 US dollars / ton, down 0.
44%; FOB Singapore was trading at $72.
29 a barrel, up 0.
94 percent
.
ethylene CFR Northeast Asia 1395 US dollars / ton, up 10 US dollars; CFR Southeast Asia was flat at $1270/mt
.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3060 yuan, flat
.

Spot market: CFR Southeast Asia was flat at $940; CFR China was flat at $935; North China calcium carbide law reported 6910 yuan / ton, up 30 yuan; ethylene law reported 7,000 yuan / ton, flat; East China calcium carbide method reported 6900 yuan / ton, flat, ethylene method 7100, up 50 yuan; South China calcium carbide method 6950 yuan, up 50 yuan, ethylene method 7150 yuan, flat
.

The PVC1809 contract rebounded slightly, and the intraday contraction reduced its position
.
Fundamentally, the central bank targeted RRR reduction, the peak of device maintenance, the continuous decline of social inventory, and the stationing of environmental protection teams to inspect formed a certain support for futures prices, but the Sino-US trade war escalated, and the spot price fell to suppress
prices.

Technical indicators, MACD green column shortened, KDJ low golden cross, short-term has the requirement to continue to rebound, operationally, investors can set a take profit in their hands, hold
cautiously.