PVC opened slightly higher and the short-term trend was tangled

News: Wanhua Chemical Group Co.
, Ltd.
plans to build a 1 million tons/year ethylene combined plant, 400,000 tons/year polyvinyl chloride (PVC) plant, 150,000 tons/year ethylene oxide (EO) plant, and 450,000 tons/year linear low-density polyethylene (LLDPE) plant in Yantai, which is scheduled to be completed and put into operation
in June 2020.

Upstream price: Japan naphtha CF Japan reported 616.
5 US dollars / ton, down 0.
16%; Naphtha FOB Singapore was trading at $67.
77 a barrel, down 0.
34%.

ethylene CFR Northeast Asia 1340 US dollars / ton, down 20 US dollars; CFR Southeast Asia was trading at $1270 a tonne, down $
20.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3060 yuan, flat
.

Spot market: CFR China was flat at $940, CFR Southeast Asia was flat at $940; North China calcium carbide law reported 6550 yuan / ton, up 20 yuan; ethylene law reported 6820 yuan / ton, up 50 yuan; East China calcium carbide method reported 6650 yuan / ton, up 20 yuan, ethylene method 6900 yuan / ton, unchanged; South China calcium carbide method 6650, flat, ethylene method 6930 yuan, flat
.

Today, the PVC1809 contract opened slightly higher, maintaining a strong finishing pattern throughout the day, and the short-term trend was tangled
.

Fundamentally, the strong trend of crude oil will support the futures price, but factors such as high social inventory and slow storage reduction will suppress the futures price to a certain extent
.

Technically, and the MACD red bar becomes longer, the KDJ indicator shows signs of turning around, indicating that the bulls and bears do not give
in to each other.
In terms of operation, investors can roll between 6600-6750, and interested investors can also try to buy PVC and sell PP arbitrage operations
.