PVC futures price is weak and volatile

News: PVC social inventory continued to maintain a downward trend this week, down 3.
89% from last week and 38.
4% higher than last year, of which East China fell 3.
02% month-on-month and increased 42.
78% year-on-year; South China decreased by 6.
32% month-on-month and increased by 27.
14%
year-on-year.

Spot market: the spot quotation of calcium carbide method in North China was basically flat, and the S-G5 type was reported at 7000-7120 yuan / ton; The quotation of ethylene method was reported at 7090 yuan / ton
.
The quotation of Changzhou calcium carbide method in East China was basically flat, at 7000 yuan / ton, and the quotation of ethylene method was 7300 yuan / ton; The quotation of calcium carbide method in South China fell by 60 yuan / ton to 7080-7180 yuan / ton; The ethylene method fell 50 yuan / ton to 7250 yuan / ton
.

Warehouse receipt inventory: The exchange warehouse receipt reported 3919 lots, which is in the historical median area, +0 lots
within the day.
Main positions: The top 20 long positions in the main contract are 166328 lots -3319 lots, short positions are 171351 lots, -5792 lots, and net long positions are -5023 lots
.

Summary: The increase in equipment maintenance and the decrease in calcium carbide supply have provided some support
to PVC prices.
However, macro events disturbance and downstream demand for high-priced raw materials generally produce a certain suppression of prices, and the fundamentals are intertwined
.
Technically, PVC1909 intraday shock finishing, indicators, MACD high dead cross, green column elongation, KDJ indicator dead cross down, expected short-term weak shock, below focus on the 40-day moving average support, above test the five-day line pressure
.
Operationally, investors are advised to wait and see
.