Continuous plastic shock closed lower short-term focus on lower support

News side: 1, CNPC East China LLDPE price report: Jilin / Daqing / Dushanzi / Sichuan 7042 hanging 9900, 7042N hanging 9900, Lanhua 7042H hanging 9950, 7042N hanging 9900, Fushun 7042 hanging 9900, Daqing DNDA8320 hanging 9950
.
The guidance price is reduced by 50, which is 50
% lower than the listed price.
(:RMB/ton)

Raw material prices: Japanese naphtha CF Japan reported 599.
5 tons, up 13; naphtha FOB Singapore reported $65.
47 / barrel, up 1.
82
.
ethylene CFR Northeast Asia 1320, down 10; CFR Southeast Asia was trading at $1220/mt, down 20
%.

Spot price: The foreign spot market price is basically flat, the Far East reported 1220 yuan / ton, flat, the Middle East reported 1194 yuan / ton, flat
.
Market prices fell slightly, with North China Daqing reporting 9700 yuan / ton, down 100; East China Yuyao Jilin stone 9900 tons, flat; South China Guangzhou reported 9900 yuan / ton, flat; Northwest Dushanzi reported 9800 yuan / ton, unchanged
.

Near the Spring Festival, the enthusiasm for market participation weakened, in terms of plastic supply, equipment maintenance decreased, operating rate rebounded, and inventories rose slightly month-on-month; In terms of demand, the peak season of downstream mulch film has gradually opened, but in the face of the Spring Festival, the downstream stocking is nearing its end, and the operating rate of the installation has also declined
.
With the rise of domestic prices, the opening of the import arbitrage window and the weak enthusiasm of downstream for high-priced raw materials, suppressing L futures prices
.
Technically, the LLDPE1805 contract continues to fluctuate downward, testing support around 9600 below, focusing on pressure around 9800 above, KDJ indicators are oversold, or limiting its downside, short-term recommendations for the time being
.