PVC volatility went higher Holdings also declined

News side: The Russian market began negotiations this week on December shipments of suspended polyvinyl chloride (SPVC), which began to decline in October due to seasonal pressures, and Russian producers had to cut prices by an average of Rs 3,000/mt
in December, according to the ICIS-MRC price report.
At the same time, the volume of
exports has increased significantly.
Russia exported more than 21,500 tonnes of SPVC in October, compared to 8,300 tonnes
in September.
In the first 10 months of this year, Russia's total PVC exports were about 109,700 tons, an increase of 52%
year-on-year.

Upstream Price: Naphtha CF Japan reported $513/mt, +5.
39%; FOB Singapore is trading at $54.
96/b, +5.
37%.

ethylene CFR Northeast Asia 940/tonne, -1.
05%; CFR Southeast Asia was trading at $850/mt, -1.
16%.

Domestic calcium carbide prices fell, East China reported 3340 yuan, -0%, Northwest reported 3075 yuan, -0%.

Spot market: CFR Southeast Asia quoted $860, +0%; CFR China is trading at $860, +0%.

Domestic: North China calcium carbide law reported 6500 yuan / ton, +0.
62%; Ethylene law reported 6700 yuan / ton, +0%; East China calcium carbide method reported 6630 yuan / ton, +0.
45%, ethylene method 6850 yuan, +0.
74%; South China calcium carbide method 6700 yuan, +0%, ethylene method 7200 yuan, -0%.

PVC1905 fluctuated higher, but trading volume decreased sharply, and holdings also declined
.
Fundamentally, the easing of the Sino-US trade war has boosted market sentiment to a certain extent, spot prices have stabilized, and social inventories have continued to fall to form a certain support
for prices.

Technically, the MACD oscillation is higher, the red bar is longer, and the median golden cross of the KDJ indicator is upward, indicating that there is a short-term rebound requirement
.
Operationally, it is recommended that investors continue to hold
long positions cautiously.