PVC sideways intraday drawdown and position reduction

News: Vinyl chloride spot prices held steady, at $700/ton CFR Far East and $740/ton CFR Southeast Asia
.
Dongcao Chemical's 220,000-tonne-per-year PVC plant in Guangzhou, China, resumed restart late last week and is now running at full capacity, after a one-month routine overhaul in April, but licensing issues have hampered plans
for an expected recovery.
Due to the closure of several PVC plants in India, Middle Eastern producers intend to resell vinyl chloride to China, but due to the long transportation distance, it has not yet been accepted by
buyers.

Upstream price: naphtha CF Japan reported 649.
88 US dollars / ton, down 1.
52%; FOB Singapore was trading at $71.
76 a barrel, down 1.
97%.

ethylene CFR Northeast Asia 1335 US dollars / ton, flat; CFR Southeast Asia was flat at $1220/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 $920; CFR China was flat at $925; North China calcium carbide law reported 6870 yuan / ton, up 40 yuan; ethylene law reported 6950 yuan / ton, up 70 yuan; East China calcium carbide method reported 6950 yuan / ton, up 50 yuan, ethylene method 7100 yuan / ton, up 50 yuan; South China calcium carbide method 6950 yuan, flat, ethylene method 7200 yuan, flat
.

The PVC1809 contract traded sideways, and the intraday contraction reduced positions, indicating that the bulls still have the advantage
.
Fundamentally, the peak of device maintenance, and the stationing of environmental protection groups for inspection form a certain support
for the futures price.
Technical indicators, MACD gold cross up, KDJ upward angle has slowed down, but the bullish trend has not changed
.
In terms of operation, investors set a take profit in their hands and hold
it cautiously.