July 15 LLDPE morning review

On Thursday, the LLDPE1609 contract closed in volatility, with futures testing pressure around 9400-9500 above and 9000 integer mark support below, which is expected to remain in the 9000-9400 range in the short term, and range trading
is recommended.

Raw material prices: Japan naphtha CF Japan reported 397.
12 yuan / ton, up 1.
62; naphtha FOB Singapore reported 42.
43 US dollars / barrel, up 0.
16
.
Ethylene CFR Northeast Asia was flat at $1135/mt, while CFR Southeast Asia was at $1085/mt, down 10
%.

Spot prices: foreign spot market prices fell slightly, Far East reported 1130 US dollars / ton, down 10; The Middle East was reported at $1120/ton, down 10; Domestic market prices fell slightly, North China Daqing reported 9150 yuan / ton, flat; East China Yuyao Jilin Petrochemical 9200 tons, down 100; South China News 9350 yuan / ton, flat
.
Northwest Dushanzi reported 9150 yuan / ton, unchanged
.

News side: 1.
China Coal Mengda New Energy Chemical Co.
, Ltd.
300,000 tons/year PE output of 7042, on the 15th, Mengda 7042 distribution price in North China was stable at 9200 yuan / ton
.

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 weakened, short-term upward momentum is limited, but the middle line with the increase in demand in the downstream peak season and the decrease in supply, the middle line is still bullish
.