PVC retreated slightly to focus on support below

News: At present, there are only 6 or 7 traders operating PVC powder in Lunan Chemical City, and it is understood that many traders have changed their careers due to poor efficiency in recent years
.
Traders said: In addition to the gusset industry, cable, leather and other soft products enterprises have taken a significant decrease in goods this year, whether it is affected by the off-season, the impact of export orders, or the continuous environmental inspection
.
At present, the operating rate of soft product enterprises is generally low, and many enterprises are even closed, and the demand is obviously not as good as in previous years
.

Spot market: the overall amount of PVC social inventory this week has declined from last week, down 1.
91% month-on-month and 50.
24% higher year-on-year; East China increased by 0.
42% month-on-month and 64.
14% higher than last year; South China decreased by 9.
09% month-on-month and 16.
67%
higher than last year.

Warehouse receipt inventory: Exchange warehouse receipts reported 2000 lots, in the historical median area, +0 lots
today.

Main positions: The top 20 long positions in the main contract are 140287 lots -819 lots, short positions are 150106 lots, -3337 lots, and net long positions are -9819 lots, +2518 lots
.

Summary: The price recovery in the Asian market has provided some support
to PVC prices during the peak period of plant maintenance.
However, after a long-term rise, there are certain signs of overbought in the short term, which puts some pressure
on the price.
Technically, the PVC1909 contract bullish pattern was not broken, the lower moving average temporarily produced some support for it, MACD edged higher, but the red bar contracted
.
The KDJ indicator oscillates at a high level with signs of
divergence.
In terms of operation, it is recommended that investors reduce their holdings at high prices and drop their pockets
.