Inventory pressure is large, LLDPE shock closed down

Raw material price: Japan naphtha CF Japan reported 502.
75 yuan / ton, down 7; Naphtha FOB Singapore was trading at $54.
48 a barrel, down 1.
18
.
ethylene CFR Northeast Asia 1385 US dollars / ton, flat; CFR Southeast Asia was flat at $1150/mt
.

Spot price: The foreign spot market price fell, the Far East reported 1160 yuan / ton, down 20, the Middle East reported 1148 yuan / ton, down 20
.
Market prices fell, North China Daqing reported 9800 yuan / ton, down 100; East China Yuyao Jilin Petrochemical 9850 tons, flat; South China reported 9900 yuan / ton, down 100
.
Northwest Dushanzi reported 9750 yuan / ton, down 150
.

News side: 1.
The guidance price of CNPC North China Company is 100 lower than the listed price, and the listed price is 9850 yuan / ton
.
2.
Shanghai Petrochemical 1PE plant first-line production Q210; second-line N210; 2PE device produces N220; The low-voltage device was overhauled from the 17th to February
27th.
The high-pressure production capacity of the device is 200,000 tons/year, and the low-pressure production capacity is 250,000 tons/year
.

This week, PE overall social inventory, port inventory continued to increase, higher than the same period last year, traders shipments are not smooth, inventory pressure is large, terminal procurement willingness is not strong, suppressing market prices, short-term or maintain weak
shocks.
Technically, the LLDPE1705 contract increased its position to the downside, testing the pressure near the five-day line above, testing the first support level of 9600 below, and looking further towards 9300 if it falls below 9600
.