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On Monday, the LLDPE1609 contract closed up in shock, short-term below the test of support near the five-day line, above test of pressure around 9000, the moving average below the plate showed a long arrangement, the bullish trend did not change, but the short-term KDJ indicator is in the oversold zone, the price may have a certain risk
of pullback.
Raw material prices: Japan naphtha CF Japan reported 429.
88 yuan / ton, down 5.
74; naphtha FOB Singapore reported 46.
09 US dollars / barrel, down 0.
63
.
Ethylene CFR Northeast Asia was flat at $1,060/ton, and CFR Southeast Asia was flat at $1,040/tonne
.
Spot prices: foreign spot market prices were basically flat, the Far East reported 1100 US dollars / ton, down 1.
5; the Middle East reported 1090 US dollars / ton, flat; Domestic market prices rose slightly, North China Daqing reported 8700 yuan / ton, flat; East China Yuyao Jilin Petrochemical 8950 tons, flat; South China News 9,000 yuan / ton, flat
.
Northwest Dushanzi reported 8750 yuan / ton, unchanged
.
News side: 1.
Pucheng clean energy full-density polyethylene plant capacity is 300,000 tons/year and 7042
.
Today, the listing price of 7042 factory rose by 50 yuan / ton to 8650 yuan / ton
.
Warehouse receipt data: 63
.
Summary of views: Fundamentally, PE traders open orders to take goods in the middle and second half of the year, petrochemical linear inventory is overall low, factory prices are firm, coal chemical listed prices are rising, coupled with the expected strengthening of equipment maintenance and shed film demand in the future, boosting the futures price higher
.
It is recommended that some long positions take profit and exit the market, and short positions adopt a long-dip strategy in the 8500-9000 range
.