Social inventories remained high and PVC prices fell under pressure

In terms of news: Henan Lianchuang PVC 300,000 tons/year installation three lines will start a rotation from today, planned for about
10 days.
The local spot quotation of ordinary type 5 calcium carbide is 5650-5700 yuan / ton, the acceptance is 100 yuan / ton, and the type 3 is 150 yuan / ton, and the delivery is slightly tight
.

Price: Japan naphtha CF Japan reported 436.
88 yuan / ton, down 3.
24; naphtha FOB Singapore reported 47.
47 US dollars / barrel, down 0.
41
.
ethylene CFR Northeast Asia 1210 US dollars / ton, flat; CFR Southeast Asia was flat at $1,075/mt
.

Spot market: The price of some domestic PVC spot market has risen.

North China calcium carbide law reported 5750 yuan / ton, flat; ethylene law reported 6540 yuan / ton, down 50; East China calcium carbide law reported 5650 yuan / ton, down 150; Ethylene law reported 6350 yuan / ton, unchanged
.
South China calcium carbide law reported 5700, down 50, ethylene method 6300 tons, up 50
.
The price of raw materials was basically flat, East China reported 2950 yuan, flat, Northwest reported 2600 yuan, flat
.

Summary of views: short-term social inventory remains high, downstream environmental protection supervision is strict, downstream operating rate has fallen, demand follow-up is insufficient, coupled with tight market capital, suppressing futures prices
.
Technically, the PVC1709 contract closed down in shock, testing the pressure around 5700 above, testing the support around 5500 below, and the futures price is expected to remain in the range of 5500-5700, and it is recommended to sell short in the range
.