PVC sideways midday rebound is not strong

News: This week's PVC social inventory index shows that the volume of goods in South China and East China has decreased slightly, but the overall backlog of goods outside the warehouse has arrived in the warehouse, and the source of goods at South China Terminal is still large, and some sources have been transferred to warehouses such as Foshan
.
Up to now, the inventory in East China is 244,000 tons, and the inventory in South China is 81,000 tons, and the overall inventory of 325,000 tons is down 5.
52%
from last week.

Upstream price: naphtha CF Japan reported 608.
25 US dollars / ton, up 1.
08%; FOB Singapore was trading at $66.
92 a barrel, up 1.
12%.

ethylene CFR Northeast Asia 1360, flat; CFR Southeast Asia was flat at $1275/mt
.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3060 yuan, flat
.

Spot market: CFR China was flat at $960, CFR Southeast Asia was flat at $960; North China calcium carbide law reported 6460 yuan / ton, unchanged; Ethylene law reported 6700 yuan / ton, flat; East China calcium carbide method reported 6550 yuan / ton, flat, ethylene method 6850 yuan / ton, flat; South China calcium carbide method 6550, flat, ethylene method 6880 yuan, flat
.

The PVC1809 contract traded sideways and rebounded at midday, but not strongly
.
Fundamentally, high inventories, environmental protection inspections and other factors have formed a certain suppression
of the futures price.
However, crude oil is firm, and the current improvement in downstream demand may support futures prices
.

Technically, the MACD red bar has become shorter, and the KDJ indicator has entered the high area and there are signs of turning around, indicating that there is a certain adjustment pressure
in the short term.
Operationally, investors pay attention to the support
of the 6550 line above.
Operationally, it is recommended that investors wait and see for the time being
.