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July 11 LLDPE morning review

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

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On Friday, LLDPE1609 contract gaped low to open oscillating downward, below to test support around 8800, above to test the five-day line pressure, short-term futures price pullback, it is recommended to back the five-day line light short position
.

LLDPE

Raw material prices: Japan naphtha CF Japan reported 396.
5 yuan / ton, down 18.
75; naphtha FOB Singapore reported 42.
36 US dollars / barrel, up 2.
09
.
Ethylene CFR Northeast Asia was at $1135/ton, up 10, and CFR Southeast Asia was flat at $1095/ton
.

Spot prices: foreign spot market prices are basically flat, and Far East is flat at $1130 / ton; The Middle East was flat at $1120/mt; Domestic market prices rose slightly, North China Daqing reported 9100 yuan / ton, flat; East China Yuyao Jilin Petrochemical 9250 tons, down 150; South China reported 9500 yuan / ton, flat
.
Northwest Dushanzi reported 9150 yuan / ton, unchanged
.

News side: 1, Fushun petrochemical PE plant old low-voltage device production 2911; Full-density unit production 7042N; The new low-voltage unit is shut down for processing and is ready to switch to 9455F1
next week.

Warehouse receipt data: 4.

Fundamentally, in the short term, due to the non-opening of petrochemical at the end of the month and the high price of the downstream on the weak enthusiasm of high-priced raw materials, the increase in petrochemical inventory, the lack of follow-up of downstream profit rise, most of them take goods on demand, the stocking sentiment is not high, the supply and demand side weakens, and the futures price has a pullback
.

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