PVC shock retreated, intraday contraction and position reduction

News: The PVC market in Hebei continues to be weak, terminal demand is not good, the overall transaction is weak, and the price fell
slightly.
Some lower and higher prices have also been heard
.
The price of PVC market in Guangzhou was lowered, and the mainstream price of calcium carbide five-type material was 6940-7030 yuan / ton in cash withdrawal.
The PVC market in Changzhou declined, futures fluctuated downward, and traders' quotations fell significantly
.
The mainstream of ordinary type 5 calcium carbide is 6900-6950 yuan / ton self-pickup
.

Upstream price: naphtha CF Japan reported 620.
88 US dollars / ton, down 4.
99%; FOB Singapore was trading at $68.
43 a barrel, down 4.
81%.

ethylene CFR Northeast Asia 1375 US dollars / ton, flat; CFR Southeast Asia was flat at $1260/mt
.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3060 yuan, flat
.

Spot market: CFR Southeast Asia was flat at $940; CFR China was flat at $935; North China calcium carbide law reported 6850 yuan / ton, down 60 yuan; ethylene law reported 6900 yuan / ton, down 100 yuan; East China calcium carbide method reported 6900 yuan / ton, down 100 yuan, ethylene method 7050, down 150 yuan; South China calcium carbide method 7,000 yuan, down 50 yuan, ethylene method 7,200 yuan, flat
.

The PVC1809 contract fell back in volatility and reduced positions during the session, indicating that the short-term trend is still weak
.
Fundamentally, the peak of device maintenance and the stationing of environmental protection teams to inspect have formed a certain support for futures prices, but the escalation of the Sino-US trade war and the decline in spot prices have suppressed
prices.
Technical indicators, MACD dead cross down, KDJ oscillation lower, indicating that there is still a pullback requirement
in the short term.

In terms of operation, stable investors can reduce their short orders at low prices, and aggressive investors can set short orders to take profit and hold
cautiously.