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April 21 LLDPE morning review

 Last Update: 2022-12-01
 Source: Internet
 Author: User

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On Wednesday, the LLDPE1609 contract closed in volatility, testing pressure around 8400 above, and support around 8200 below, if the futures price fails to hold 8200, or further falls to around 7900-8000, short-term recommendations are to wait and see
.

LLDPE

News side: 1.
The total amount of PE social inventory this week decreased by nearly 17,000 tons compared with the previous cycle (April 13), a decrease of about
5.
1%.
2.
The LLDPE price of Oil North China Company was lowered by 100 to 8900 yuan / ton
.

Raw material prices: 1, Japan naphtha CF Japan reported 393.
62 yuan / ton, down 16.
12; naphtha FOB Singapore reported 42.
34 US dollars / barrel, up 1.
91
.
Ethylene CFR Northeast Asia was flat at $1200/mt, while CFR Southeast Asia was at $1170/mt, up 10
%.

Spot price: the price of foreign spot market was basically flat, and the Far East reported 1130 yuan / ton, down 25; The Middle East was at $1116/mt, down 25
.
Domestic market prices fell, North China Daqing reported 8900 yuan / ton, flat; East China Yuyao Jilin Petrochemical 9050 tons, down 50; South China reported 9200 yuan / ton, flat
.
Northwest Dushanzi reported 9150 yuan / ton, unchanged
.

Affected by the short-term maintenance of the device, the social inventory is reduced, but the downstream demand follow-up is insufficient, and the new production capacity of China Coal Mengda is about to be put into operation, and the petrochemical company has lowered the factory price, suppressing the upward momentum of the price, but the large futures price difference limits its downward space, and the short-term futures price is expected to maintain range volatility
.

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