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August 1 LLDPE morning review

 Last Update: 2022-12-02
 Source: Internet
 Author: User

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LLDPE1609 contract rose sharply, futures price above test pressure around 9300, below test around 8900 support, short-term is expected to have strong bottom support below, is expected to maintain strong volatility, it is recommended to go long
in the 8900-9300 range.

LLDPE

Raw material prices: Japan naphtha CF Japan reported 349.
62 yuan / ton, down 7.
76; naphtha FOB Singapore reported 6.
81 US dollars / barrel, down 0.
86
.
Ethylene CFR Northeast Asia was flat at $1095/mt, and CFR Southeast Asia was flat at $1035/mt
.

Spot prices: foreign spot market prices are basically flat, and Far East is flat at $1130 / ton; The Middle East was flat at $1118/ton; Domestic market prices fell slightly, North China Daqing reported 9100 yuan / ton, up 300; East China Yuyao Jilin Petrochemical 9050 tons, flat; South China reported 9250 yuan / ton, up 50
.
Northwest Dushanzi reported 8850 yuan / ton, unchanged
.

News side: 1.
The linear guidance price of CNPC North China Company is the same as the listed price, up 200 yuan to 9100 yuan / ton
.
2.
Shanghai Jinfei PE plant has a production capacity of 135,000 tons/year, and the unit was shut down for maintenance on the afternoon of July 25, and is expected to last about
two weeks.

Warehouse receipt data: 1320
.

Fundamentally, affected by the lack of downstream demand follow-up, plastic inventories have increased, but linear inventory growth is limited, and in the later stage, some devices of the G20 summit are stopped, and the planned production of new capacity equipment has limited impact on LLDPE, and LLDPE prices are expected to remain strong in the short term
.

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