PVC trend is weak, looking for support downward

News: Lutai Chemical's PVC plant is fully loaded with 360,000 tons/year of plant and less inventory
.
Today's price was lowered by 50 yuan / ton, and the calcium carbide method 5 type factory reported 6380 yuan / ton acceptance
.

Upstream prices: Japan naphtha CF Japan reported $572.
5 / ton, up $4; Naphtha FOB Singapore was trading at $62.
48 a barrel, up $
0.
25.
ethylene CFR Northeast Asia 1380 US dollars / ton, flat; CFR Southeast Asia was flat at $1280/mt
.

Spot market: The price of some domestic PVC spot market is temporarily stable
.
North China calcium carbide law reported 6220 yuan / ton, flat; ethylene law reported 6500 yuan / ton, unchanged; East China calcium carbide method reported 6220 yuan / ton, down 30, ethylene method 6700 yuan / ton, flat; South China calcium carbide method 6300, flat, ethylene method 6800 yuan, flat
.

Summary of view: The social inventory in South China and East China remains high, it is difficult to resolve the inventory pressure in the short term, and the spot price is temporarily stable
.
Market transactions are average, traders are cautious in taking goods, the market wait-and-see atmosphere is strong, if there is no good news in the short term, it may continue to fall
.

On the technical side, the PVC1805 contract above the daily line systematic suppression, continue to test the support point, MACD and KDJ are in a weak range, short-term show weak operation is expected to continue to go down to find support points
.
Operationally, it is at high altitude
around 6350.