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PVC1809 contract opened at 6895 yuan, the highest 6965 yuan / ton, the lowest 6885 yuan / ton, closed at 6945 yuan / ton, up 60 yuan, or 0.
87%, the volume was reported at 285930 lots, and the position increased by 20430 lots to 247064 lots
.
News: Mitsubishi Chemical recently said it will acquire the polyvinyl chloride (PVC) composite business of Welset Plast Extrusions (Welset) in Mumbai, India, and the two sides have reached an agreement on this and are expected to complete the transaction
this fall.
The acquisition will enable Mitsubishi Chemical to enter the medical PVC composites segment in India and further leverage Welset's marketing channels and infrastructure to strengthen its PVC and thermoplastic elastomers businesses in the Indian and ASEAN markets
.
Upstream price: naphtha CF Japan reported 677.
38 US dollars / ton, up 1.
29%; FOB Singapore was trading at $74.
13 a barrel, up 1.
31%.
ethylene CFR Northeast Asia 1390 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 3060 yuan, flat
.
Spot market: CFR Southeast Asia was flat at $940; CFR China was flat at $935; North China calcium carbide law reported 6900 yuan / ton, up 30 yuan; ethylene law reported 7020 yuan / ton, up 20 yuan; East China calcium carbide method reported 6920 yuan / ton, flat, ethylene method 7100, flat; South China calcium carbide method 6920 yuan, up 20 yuan, ethylene method 7150 yuan, flat
.
The PVC1809 contract fluctuated higher, the position rose sharply, and the short-term trend was better
.
Fundamentally, the central bank has lowered the RRR in a targeted manner, the peak of equipment maintenance, the continuous decline in social inventory, and the stationing of environmental protection teams to inspect have formed a certain support for futures prices, but the escalation of the Sino-US trade war has suppressed it to a certain extent
.
Technical indicators, the MACD axis hovers, and the KDJ indicator has signs of a golden cross upward, indicating that the rally is expected to continue
.
In terms of operation, investors can reduce their holdings at high prices and beware of the risk
of technical pullbacks.
