PVC shock fell and inventories recovered slightly

Raw material prices: 1, Japan naphtha CF Japan reported 511.
25 yuan / ton, down 2; Naphtha FOB Singapore was trading at $54.
93 a barrel, down 0.
23
.
ethylene CFR Northeast Asia 1320, flat; CFR Southeast Asia was flat at $1205/mt
.

Spot market: The price of some domestic PVC spot markets fell
.
North China calcium carbide law reported 7510 yuan / ton, down 140; ethylene law reported 7680 yuan / ton, flat; East China calcium carbide law reported 7250 yuan / ton, down 100; South China calcium carbide method 7420, down 150, ethylene method 7700 tons, down 100
.
The price of raw materials was basically flat, East China reported 3150 yuan, flat, and Northwest reported 2730 yuan, flat

News: 1.
Shandong Xinfa PVC price was reduced by 100 yuan / ton, the supply was limited, and the manufacturer implemented a limited policy
.
The calcium carbide method 5 type material was exchanged at 7,300 yuan / ton, and the 600,000 tons/year plant in the plant resumed normal operation
.

Summary of views: The price of upstream raw materials is firm, which has a certain cost support
for PVC.
However, short-term PVC is affected by the increase in operating rate, inventory has rebounded slightly, coupled with delivery months, exchange warehouse receipts have increased, market sources have increased, and short-term suppression of futures prices
.
Enter the small peak season of gold nine silver ten demand, pay attention to the demand
of the future market.
Technically, the PVC1801 contract continues to fluctuate and fall, focusing on support around 6900 below, pressure around 7250 above, and maintaining short-term volatility in the 6900-7250 range, recommended range trading
.