PVC low rebounded bears took profits

News: PVC prices in Asia have fallen this week compared with last week, demand pressure in China and India has increased, supply tensions affected by Chinese PVC have slowed down, prices have fallen to a four-month low, the overall market is trading flat, and the current mentality has changed to stable or bearish
in view of falling demand in China.
In India, PVC demand is also slowing
.
South Korea's PVC exports fell 8.
2% to 42,804 tonnes
in February.

Upstream prices: naphtha CF Japan reported $570.
25 / ton, up 1.
11%; FOB Singapore was trading at $62.
06 a barrel, up 1.
11 percent
.
ethylene CFR Northeast Asia 1335, flat; CFR Southeast Asia was flat at $1250/mt
.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3120 yuan, flat
.

Spot market: CFR China was flat at $970, CFR Southeast Asia was flat at $970; North China calcium carbide law reported 6310 yuan / ton, down 10 yuan; ethylene law reported 6520 yuan / ton, flat; East China calcium carbide method reported 6250 yuan / ton, flat, ethylene method 6700 yuan / ton, flat; South China calcium carbide method 6300, down 100 yuan, ethylene method 7000 yuan, down 50 yuan
.

The PVC1805 contract rebounded and positions decreased, indicating that there were short profit-taking
.
Fundamentally, spot prices have retraced, and during the two sessions, environmental protection efforts have increased, and the sluggish downstream demand has formed a certain suppression
of futures prices.

Technically, MACD and KDJ indicators are both located in weak areas, and it is expected that the weak finishing pattern
will continue.
The future market focuses on whether the rebound breaks through the upper pressure
.
Operationally, it is advisable
for investors to wait and see for the time being.