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On Wednesday, the LLDPE1609 contract opened high and low, testing pressure around 9400-9500 above the futures price, testing the 9000 integer mark support below, and it is recommended to sell short
in the 9000-9500 range.
News side: 1.
The total amount of PE social inventory this week increased by about 25,000 tons compared with the previous cycle (July 6), an increase of about
7.
8%.
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 price: the foreign spot market price is basically flat, and the Far East is reported at 1140 US dollars / ton, flat; The Middle East was flat at $1125/ton; Domestic market prices fell slightly, North China Daqing reported 9050 yuan / ton, flat; East China Yuyao Jilin Petrochemical 9300 tons, up 150; South China News 9350 yuan / ton, flat
.
Northwest Dushanzi reported 9150 yuan / ton, unchanged
.
Warehouse receipt data: 63
.
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
.