PVC volatility fell and trading volume shrank sharply

News: PVC social inventory continued to maintain a downward trend this week, down 5.
34% from last week and 34.
03% higher than last year, of which East China fell 17.
11% month-on-month and increased 40.
72% year-on-year; South China was flat month-on-month, up 18.
31%
year-on-year.

Spot market: PVC market price sorting in Shanghai, point price Benniu Tianye +100, calcium carbide five-type material mainstream quotation 6800-6900 yuan / ton, Tianye 5 type 6900 yuan / ton, Zhongtai Hangzhou 6930 yuan / ton, ethylene method Dagu Qilu material 1000 model sent to 7100-7200 yuan / ton for negotiation, East China ethylene method enterprise price in 7100-7350 yuan / ton delivery
.

Warehouse receipt inventory: the exchange warehouse receipt reported 2000 lots, which is in the historical median area, +0 lots
within the day.
Main positions: The top 20 long positions in the main contract are 183897 lots +11003 lots, short positions are 170244 lots, +5763 lots, and net long positions are 13653 lots, +5240 lots
.

Summary: The high level of crude oil has fallen, the Sino-US trade war has intensified, and downstream demand has generally suppressed the price, but the increase in equipment maintenance and the decline in social inventory have produced certain support
for PVC prices.
Technically, PVC1909 fluctuated lower, trading volume shrank sharply, but positions rose
sharply.
The main position shows that the strength of long position increase is greater than that of short position, and the long party has the advantage
.
On the indicator, MACD fell slightly, the green bar flattened, and the KDJ indicator hovered low and showed a certain divergence
.
Operationally, it is advisable
for investors to trade in the range of 6730-6850.