PVC shock closed lower It is recommended to wait and see for the time being

News: 1.
Lutai Chemical PVC plant area 360,000 tons/year plant started 7-8%.

Today's quotation was lowered by 40 yuan / ton, and the calcium carbide method 5 type factory was accepted at 6680 yuan / ton, and the real market was slightly lower
.

Raw material prices: 1, Japan naphtha CF Japan reported 599.
5 tons, up 13; naphtha FOB Singapore reported 65.
47 US dollars / barrel, up 1.
82
.
ethylene CFR Northeast Asia 1320, down 10; CFR Southeast Asia was trading at $1220/mt, down 20
%.

Spot market: The price of some domestic PVC spot market has risen.

North China calcium carbide law reported 6550 yuan / ton, flat; ethylene law reported 6770 yuan / ton, unchanged; East China calcium carbide method reported 6650 yuan / ton, down 50, ethylene method 7050 yuan / ton, flat; South China calcium carbide method 6750, down 20, ethylene method 7000, flat
.
Raw material prices were flat, East China reported 3150 yuan, flat, Northwest reported 3420 yuan, flat
.

On the demand side, approaching the Spring Festival, downstream manufacturers have successively stopped work and holiday, the enthusiasm of market participation has weakened, and the demand for pre-holiday stocking tends to end
.

On the supply side, the maintenance of the equipment is small, and the operating rate has rebounded, but due to the impact of downstream replenishment, the short-term supply pressure is not large, and there is a risk
of accumulation in the later stage.
Due to the rapid rise of the futures price, the basis discount is large, the short-term futures price falls back to repair the basis, the fundamentals are long and short intertwined, the short-term shock adjustment is the mainstay, and the basis rolls up the discount
.

Technically, the PVC1805 contract closed down during the day, focusing on the support around 6600-6650 below, the KDJ indicator diverged downward, short-term or weak shock, it is recommended to wait and see
for the time being.