PVC shock retreat, short-term direction is unclear

News: Guangzhou PVC market price is stable, calcium carbide five-type material mainstream price in 7020-7070 yuan / ton cash pick-up, ethylene thin material Dagu 1000/800 type 7400 yuan / ton, Qilu Chemical City PVC market price steady decline, traders temporarily stabilize the price wait-and-see, the market trading atmosphere is general, calcium carbide method mainstream price of 6880-6900 yuan / ton (including tax self-pickup), ethylene Qilu source S1000 / S700 mainstream price in 7000-7240 yuan / tons including tax pickup
.

Upstream price: naphtha CF Japan reported 678.
25 US dollars / ton, down 0.
23%; FOB Singapore was trading at $73.
72 a barrel, down 1.
89%.

ethylene CFR Northeast Asia 1320 US dollars / ton, flat; CFR Southeast Asia was flat at $1215/mt
.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3290 yuan, flat
.

Spot market: CFR Southeast Asia was flat at $950; CFR China was flat at $940
.
North China calcium carbide law reported 6890 yuan / ton, flat; ethylene law reported 7150 yuan / ton, flat; East China calcium carbide method reported 6850 yuan / ton, down 100 yuan, ethylene method 7300 yuan, flat; South China calcium carbide method 7050 yuan, flat, ethylene method 7500 yuan, flat
.

The PVC1901 contract fell back in shock, closing at the end of the small limit of the lower shadow, and the position was greatly reduced, indicating that there were short funds taking profits
.
Fundamentally, the strong price of calcium carbide has formed a certain support for the futures price, but the spot price is loose, and the willingness of downstream demanders to take goods is not strong, which suppresses
the futures price.

Technically, the MACD oscillation retreated, the green column flattened, the KDJ indicator hovered at a low level, and the short-term direction was unclear
.
Operationally, stable investors can take profits on short orders in their hands, and it is appropriate
for short positions to wait and see for the time being.