Continuous plastic narrow finishing Position volume increased slightly

News: From January to June 2018, China's polyethylene production was 7.
6775 million tons, an increase of 5.
55%
year-on-year.
The impact of domestic polyethylene plant maintenance reached about
553,800 tons.
Among them, May and June are the centralized maintenance period of the equipment, and the impact in June is the largest, with an impact of 171,600 tons, accounting for 31%
of the total impact in the first half of the year.
In the first half of this year, the impact of domestic polyethylene plants decreased by about
20.
1% compared with the same period last year.

Raw material price: naphta CF Japan reported 673.
5 US dollars / ton, up 0.
11%; FOB Singapore was trading at $73.
94 a barrel, up 0.
14%.

ethylene CFR Northeast Asia 1350 US dollars / ton, flat; CFR Southeast Asia was flat at $1235/mt
.

Spot price: Southeast Asia was flat at $1125; Far East reported 1100 yuan / ton, unchanged
.
Domestic prices: North China Daqing reported 9600 yuan, up 50 yuan; East China Yuyao reported 9600 yuan, up 50 yuan; Guangzhou in South China 9600 yuan, up 50 yuan; Northwest Dushanzi 9650 yuan, up 100 yuan
.

Liansu 1901 contract was sorted out in a narrow range, and the position continued to increase
slightly.
Fundamentally, the trend of naphtha and spot prices is firm, and the decline in social inventories has formed a certain support for prices, but after many days of rise, there is a certain profit selling pressure
in the short term.
Technically, the MACD indicator began to flatten at its high, and the KDJ indicator continued to be in a state of top divergence, with short-term technical adjustments
.
Operationally, it is advisable
for investors to wait and see for the time being.