PVC contracts fluctuated lower and trading volume decreased significantly

News: According to the statistics of Zhuochuang Information, the domestic PVC social inventory in the week of May 18 fell by 5.
26% month-on-month and 8.
15%
higher than the same period last year.
And at present, some downstream small factories, the operating and order situation has weakened
.
Although the destocking progress is obvious, it is still high compared to last year, and the gradual weakening of demand is expected to limit the growth of
PVC.

Upstream price: naphtha CF Japan reported 688.
75 US dollars / ton, down 0.
22%; FOB Singapore was trading at $76.
69 a barrel, down 0.
81%.

ethylene CFR Northeast Asia 1260 US dollars / ton, up 10 US dollars; CFR Southeast Asia was flat at $1185/ton; 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 $915, CFR Southeast Asia was flat at $920; North China calcium carbide law reported 6830 yuan / ton, flat yuan; Ethylene law reported 6950 yuan / ton, unchanged; East China calcium carbide method reported 6900 yuan / ton, flat, ethylene method 7050 yuan / ton, flat; South China calcium carbide method 6900, flat, ethylene method 7280 yuan, flat
.

During the day, the PVC1809 contract fluctuated lower, the trading volume decreased significantly, and the position increased slightly
.
Fundamentally, the peak of device maintenance and the stationing of environmental protection groups for inspection have formed a certain support for the futures price, but the high short-term social inventory has suppressed
the futures price.
Technical indicators also diverged, MACD green column growth, KDJ also continued to fall, later pay attention to whether the support around 6650 is strong, operationally, it is recommended that investors set short orders in their hands to take profit and hold
cautiously.