PVC edged higher and maintained range-bound volatility in the short term

News: From January to November 2018, the total profit of industrial enterprises above designated size in the country increased by 11.
8%, slowing down by 1.
8 percentage points
from January to October.
Profit for the month of November fell 1.
8%.

From January to November, the chemical industry increased by 19.
1%, and the rubber and plastic products industry achieved main business income of 2.
30780 billion yuan, a year-on-year increase of 4.
1%; The total profit was 115.
92 billion yuan, a year-on-year increase of 2.
5%;

Upstream price: naphtha CF Japan reported $444.
75/mt, +0%; FOB Singapore is trading at $47.
05/b, +0%.

ethylene CFR Northeast Asia 870 US dollars / ton, -3.
33%; CFR Southeast Asia was trading at $760/mt, -3.
80%.

Domestic calcium carbide prices fell slightly, with East China reporting 3100 yuan, -0%, Northwest reported 2890 yuan, -1.
2%.

Spot market: CFR Southeast Asia at $880, +0%; CFR China is trading at $885, +0%.

Domestic: Shandong calcium carbide law reported 6480 yuan / ton, -0.
77%; Ethylene law reported 6800 yuan / ton, -1.
45%; East China calcium carbide method reported 6600 yuan / ton, -0%, ethylene method 7050 yuan, -0%; South China calcium carbide method 6750 yuan, +0%, ethylene method 7200 yuan, -0%.

PVC1905 edged higher, barely standing above the 10-day moving average in the final session, with trading volume shrinking sharply and holdings increasing
sharply.
Fundamentally, the gradual decline in PVC downstream demand has produced a certain suppression of prices, but spot prices have stopped falling and stabilized, and social inventories have continued to fall to form a certain support
for prices.

Technically, both MACD and KDJ indicators are hovering at the median level, and it is expected to remain range-bound in the short term
.
Operationally, investors are advised to continue operating
in the 6300-6500 range.