June 29 LLDPE morning review

News side: 1.
The overall operating rate of polyethylene petrochemical plants this week is around 83%, up 1 percentage point
from last week.
2.
The LLDPE price of CNPC North China Company was increased by 100, and the guidance price was the same
as the listed price.

Raw material prices: Japan naphtha CF Japan reported 416.
38 yuan / ton, down 4.
24; naphtha FOB Singapore reported 44.
64 US dollars / barrel, down 0.
47
.
Ethylene CFR Northeast Asia was flat at $1090/mt, and CFR Southeast Asia was flat at $1060/mt
.

Spot price: the foreign spot market price is basically flat, and the Far East is reported at 1100 US dollars / ton, flat; The Middle East was flat at $1090/ton; Domestic market prices rose slightly, North China Daqing reported 8900 yuan / ton, up 200; East China Yuyao Jilin Petrochemical 8950 tons, flat; South China News 9,000 yuan / ton, flat
.
Northwest Dushanzi reported 8800 yuan / ton, unchanged
.

Warehouse receipt data: 63
.

Fundamentally, near the end of the month, traders opened orders to take goods, petrochemical linear inventory was overall low, factory prices were firm, coal chemical listed prices increased, coupled with the expected strengthening of equipment maintenance and shed film demand in the future, boosting the futures price
.
However, the KDJ indicator is in the oversold range, which does not rule out the risk of pullback, and it is recommended to be cautious and chase higher, and it is recommended to do
bargaining in the 8900-9300 range.