PVC weak shock ended slightly lower

News: Since the implementation of the "263" special operation in October 2016, Jiangsu Province has investigated a total of 7,372 chemical enterprises
.
In May 2017, Jiangsu issued the province's petrochemical industry "four batches" special action target task, clarifying that by the end of 2018, it plans to close 2,077 enterprises; In 2020, 272 enterprises were transferred, 696 enterprises were upgraded, and 4,327 enterprises
were restructured.

Upstream prices: Naphtha CF Japan reported $592.
75 / ton, up 2.
33%; FOB Singapore was trading at $65.
29 a barrel, up 2.
34%.

ethylene CFR Northeast Asia 1345, flat; CFR Southeast Asia was flat at $1260/mt
.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3060 yuan, flat
.

Spot market: CFR China was flat at $960, CFR Southeast Asia was flat at $960; North China calcium carbide law reported 6460 yuan / ton, unchanged; Ethylene law reported 6700 yuan / ton, flat; East China calcium carbide method reported 6550 yuan / ton, flat, ethylene method 6850 yuan / ton, flat; South China calcium carbide method 6550, flat, ethylene method 6880 yuan, flat
.

The PVC1809 contract opened slightly higher, maintained weak volatility throughout the day, and closed slightly lower at the end, indicating that the upside pressure remained
.
Fundamentally, high inventories, environmental protection inspections and other factors have formed a certain suppression
of the futures price.
However, crude oil rebounded, and the current improvement in downstream demand may support futures prices
.

Technically, the MACD low and low golden cross is upward, but the KDJ indicator has entered the high area, and there is adjustment pressure
in the short term.
Operationally, investors are holding more than one high to reduce their holdings
.