PVC increases positions to the upside In the short term, bulls take the initiative

News: As of March 4, the total inventory of the PVC market continued to increase, reporting 422,000 tons, an increase of 8.
43% from last week and 13.
14% over last year; East China increased by 5.
56% from last week and 2.
15% year-on-year; South China increased by 14.
93% from last week and 45.
74%
year-on-year.

Spot market: the price of PVC market in Guangzhou was raised, the increase of ordinary calcium carbide was 30 yuan / ton, and ethylene material was temporarily stable
.
The mainstream price of calcium carbide five-type material is 6430-6520 yuan / ton, and ethylene Dagu 1000 type 7000 yuan / ton
.
The PVC market price in Qilu Chemical City is stable, the quotation of traders is stable, the mainstream price of calcium carbide type 5 is 6370-6390 yuan / ton (including tax self-pickup), and the price of ethylene Qilu source is 6600-6750 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 3 lots, -0; in the historical low area, stable
during the day.
Main position: The top 20 long positions in the main contract are 107370+2995, the short position is 106953, +5934, and the net long position is 417, -2939
.

Fundamentally, the strong trend of crude oil has produced some support for prices, but the inventory of production enterprises remains high, and the sluggish demand for PVC downstream has suppressed prices to a certain extent
.
Technically, PVC1905 oscillated higher, and intraday volume increased positions, but the main force of bears increased slightly more than the main force
of bulls.
The technical indicators MACD and KD indicators both edged higher, indicating that bulls have the initiative in the
short term.
In terms of operation, it is recommended that investors reduce their holdings at high prices and buy again after a pullback
.