PVC futures prices continue to fluctuate and fall, short-term recommendations are wait-and-see

News: 1.
Short-term petrochemical inventories have decreased
slightly.

Price: 1.
Japan Naphtha CF Japan was at $562.
62 / ton, up 0.
5; Naphtha FOB Singapore was at $61.
41 / barrel, up 0.
05
.
ethylene CFR Northeast Asia 1240, flat; CFR Southeast Asia was flat at $1140/mt
.

Spot market: The price of some domestic PVC spot markets fell
.
North China calcium carbide law reported 6550 yuan / ton, down 10; ethylene law reported 6780 yuan / ton, flat; East China calcium carbide method reported 6550 yuan / ton, down 50, ethylene method 6950 yuan / ton, flat; South China calcium carbide method 6680, down 40, ethylene method 6850, down 30
.
The price of raw materials was flat, East China reported 3620 yuan, flat, and Northwest reported 3450 yuan, flat
.

Summary of views: The short-term northern winter impact, the overall demand is less than expected, coupled with the recovery of market operating rate, the future market supply is expected to increase, suppressing the futures price
.
However, the increase in supply is not much and social stocks are declining, while the raw materials of calcium carbide are strong and boosted, and the cost is near the profit and loss line, or limit the room for price decline
.
Technically, the PVC1801 contract fluctuated down, short-term below the 6200 early low support, above the pressure around 6500, because the KDJ indicator turned downward, short-term or maintain a low wide range of oscillations, it is recommended to wait and see
for the time being.