PVC rebounded slightly in the short term, and there are still repeats

News: As of the week of September 18, the PVC market traded lightly, market shipments decreased from the previous week, social inventory increased slightly, and the social inventory sample data increased by 2.
52% from last week, down 6.
32% year-on-year; Among them, the inventory in East China increased by 0.
82% from last week and decreased by 3.
91% year-on-year; Inventories in South China increased significantly from last week, at 8.
11%, down 13.
04%
year-on-year.

Upstream price: naphtha CF Japan reported 689.
88 US dollars / ton, up 1.
25%; FOB Singapore was trading at $75.
25 a barrel, up 1.
32%.

ethylene CFR Northeast Asia 1240 US dollars / ton, down 30 US dollars; CFR Southeast Asia was trading at $1130/mt, down $
30.
Domestic calcium carbide prices were stable, with East China reporting 3700 yuan, up 100 yuan, and Northwest reported 3405 yuan, flat
.

Spot market: CFR Southeast Asia reported $880, down 60 yuan; CFR China was trading at $870, down 60 yuan
.
North China calcium carbide law reported 6790 yuan / ton, down 10 yuan; ethylene law reported 7,000 yuan / ton, flat; East China calcium carbide method reported 6850 yuan / ton, up 20 yuan, ethylene method 7080 yuan, flat; South China calcium carbide method 6950 yuan, flat, ethylene method 7350 yuan, flat
.

The PVC1901 contract rebounded slightly, but the position was significantly reduced, and there were still back-and-forth
in the short term.
Fundamentally, the strong price of calcium carbide has formed a certain support for the futures price, but the Asian spot price has fallen sharply, and the willingness of downstream demanders to take goods is not strong, which suppresses
the futures price.

Technically, the MACD low level flattened, the green column shortened, and the KDJ indicator continued to hover at the low level, indicating that the short-term trend is still weak
.
Operationally, it is recommended that investors wait and see for the time being
.