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July 13 LLDPE morning review

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

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2 4 hexadiene

1 5 hexadiene

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On Tuesday, the LLDPE1609 contract closed up in volatility, testing pressure around 9400-9500 above the futures price, and testing support around 8900 below, because the fundamental and technical trends diverged, it is not recommended to chase up, wait and see
for the time being.

LLDPE

Raw material prices: Japan naphtha CF Japan reported 391.
75 yuan / ton, down 4.
75; naphtha FOB Singapore reported 41.
84 US dollars / barrel, down 0.
52
.
Ethylene CFR Northeast Asia was flat at $1135/mt, and CFR Southeast Asia was flat at $1095/mt
.

Spot prices: foreign spot market prices rose slightly, Far East reported 1140 US dollars / ton, up 5; The Middle East was quoted at $1125/ton, up 5; Domestic market prices fell slightly, North China Daqing reported 9050 yuan / ton, down 50; East China Yuyao Jilin Petrochemical 9150 tons, down 50; South China reported 9350 yuan / ton, down 50
.
Northwest Dushanzi reported 9150 yuan / ton, unchanged
.

News side: 1.
The overall operating rate of polyethylene petrochemical plants this week is around 8%, down 2 percentage points
from last week.
During the statistical period, the average operating rate in East China decreased, mainly affected by the shutdown of Shanghai SECCO equipment, and the average operating rate in other regions did not change much
.

Warehouse receipt data: 64
.

Fundamentally, the short-term downstream has a weak impact on the enthusiasm of high-priced raw materials, petrochemical inventories increase, downstream profit rise follow-up is insufficient, most of them take goods on demand, stocking sentiment is not high, supply and demand side weaken, and the fundamental momentum to support the rise in futures prices is limited
.

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