PVC volatility lower, short-term signs of overbearing

News: On October 31, it was reported that the Asian PVC market bottomed out, and as Indian end customers began to buy spot, the Asian PVC market stopped falling and rising, mainly because PVC producers may raise the December shipping schedule quotation by $20/ton
.
However, falling prices in the Chinese market may limit the growth of PVC
.

Upstream Price: Naphtha CF Japan reported $639.
12/mt, -0.
31%; FOB Singapore is trading at $69.
24/b, -0.
40%.

ethylene CFR Northeast Asia 930 US dollars / ton, -0%; CFR Southeast Asia is trading at $845/mt, -0%.

Domestic calcium carbide prices fell, East China reported 3440 yuan, -0%, Northwest reported 3225 yuan, -0%.

Spot market: CFR Southeast Asia quoted $850, +0%; CFR China is trading at $850, +0%.

Domestic: North China calcium carbide law reported 6570 yuan / ton, -0.
61%; Ethylene law reported 6780 yuan / ton, -0%; East China calcium carbide method reported 6530 yuan / ton, -1.
06%, ethylene method 7000 yuan, -0%; South China calcium carbide method 6600 yuan, -0%, ethylene method 7220 yuan, +0%.

PVC1901 volatility declined, trading volume significantly amplified, and position volume also recovered
slightly.
Fundamentally, raw material prices have fallen, and weak spot prices have suppressed futures prices, but after a continuous decline, there are obvious signs
of over-fall in the short term.

Technically, the MACD indicator is flat at a low level and the KDJ indicator is flat at a low level, indicating that the bears' strength has weakened, but it remains to be seen
whether it can successfully stop the decline.
In terms of operation, it is recommended that investors wait and see for the time being
.