PVC volatility lower, position slightly increased

News: According to the analysis of the transaction index tracked by professional institutions, the recent market trading volume is poor, the rapid decline in market prices and the firm prices of upstream enterprises have led to less
recent market arrivals.

As of August 27, the total amount of PVC social inventory decreased slightly by 6% from the previous week, and increased by 14% year-on-year; Among them, inventory in East China fell by 3% month-on-month and increased by 10% year-on-year; Inventories in South China fell 13% month-on-month and increased 24%
year-on-year.

Upstream price: naphtha CF Japan reported 659.
62 US dollars / ton, up 0.
11%; FOB Singapore was trading at $71.
76 a barrel, up 0.
04%.

ethylene CFR Northeast Asia 1395 US dollars / ton, flat; CFR Southeast Asia was flat at $1270/mt
.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3290 yuan, flat
.

Spot market: CFR Southeast Asia was flat at $950; CFR China was flat at $960
.
North China calcium carbide law reported 7100 yuan / ton, down 20 yuan; ethylene law reported 7330 yuan / ton, down 20 yuan; East China calcium carbide method reported 7050 yuan / ton, flat, ethylene method 7550, flat; South China calcium carbide method 7300 yuan, down 30 yuan, ethylene method 7680 yuan, flat
.

The PVC1901 contract fluctuated lower, with a slight increase in holdings and a weak short-term trend
.
Fundamentally, the loosening of spot prices and the decline of spot prices in many overseas places have put pressure on
futures prices.
Technically, the MACD high is dead forked and diverges downward, but the KDJ indicator shows signs
of flattening low.
Operationally, investors set short orders in their hands to take profit and hold
them cautiously.