PVC sideways rebound whether to break through the upper pressure

News: The Asian vinyl chloride market price is trading at $780/mt CFR Far East and $815/mt CFR Southeast Asia
.
After the overhaul of the vinyl chloride plant, the market supply increased, the downstream PVC market declined, and the demand for vinyl chloride slowed down
.
South Korea exported 4,503 tonnes of vinyl chloride in February, compared to no record
in February last year.
The current price difference between PVC and vinyl chloride is $190/ton, higher than the break-even point
of $150/ton.

Upstream price: naphtha CF Japan reported $568.
5 / ton, down 0.
31%; FOB Singapore was trading at $62.
2 a barrel, up 0.
23%.

ethylene CFR Northeast Asia 1380, down $45; CFR Southeast Asia was trading at $1280 a tonne, up $
30.
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 6220 yuan / ton, down 90 yuan; ethylene law reported 6500 yuan / ton, down 20 yuan; East China calcium carbide method reported 6250 yuan / ton, flat, ethylene method 6700 yuan / ton, flat; South China calcium carbide method 6300, flat, ethylene method 6800 yuan, down 200 yuan
.

The PVC1805 contract is sideways, and the change in the volume warehouse is not obvious
.
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.