Continuous plastic volatility lower, investors can take advantage of the dip to reduce their holdings

News side: PetroChina Tarim Oilfield Branch ethane to ethylene project carried out the second public participation in the environmental impact assessment of the project
.
The project includes a 600,000 mt/year ethylene plant, a 300,000 mt/year full-density polyethylene unit (FDPE), a 300,000 mt/year HDPE unit and supporting utilities and ancillary facilities
.
The ethylene plant adopts PetroChina's own technology
.

Raw material price: naphtha CF Japan reported 679.
62 US dollars / ton, up 1.
95%; FOB Singapore traded at $74.
11 a barrel, up 2.
00%.

ethylene CFR Northeast Asia 1365 US dollars / ton, down 30 US dollars; CFR Southeast Asia was trading at $1240/mt, down $
30.

Spot prices: Southeast Asia was flat at $1,130; Far East reported 1100 yuan / ton, unchanged
.
Domestic price: North China Daqing reported 9600 yuan, flat; East China Yuyao reported 9600 yuan, flat; Guangzhou in South China 9650 yuan, up 50 yuan; Northwest Dushanzi 9650 yuan, flat
.

The Liansu 1901 contract fluctuated lower, with a sharp increase in holdings, and the short-term trend remained weak
.
Fundamentally, the loosening of spot prices and a slight recovery of social inventories have put certain pressure
on futures prices.

Technically, the MACD indicator is moving down from a high level, but the KDJ indicator shows signs of flattening at a low level, and there is a divergence
in the technical indicators.
In terms of operation, it is recommended that stable investors can reduce their short orders at low prices and put their pockets safe, while aggressive investors can still set up take profits and hold
them cautiously.