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June 30 LLDPE morning review

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

Tags

high low thermometer

market pe

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On Wednesday, LLDPE1609 contract opened high and low, short-term below test the first line around 8800 support, the second line around 8600 support, above test around 9300 pressure, KDJ indicator is in the overbought range, it is expected that the short-term upside of the futures price is limited, there are pullback requirements, it is expected to maintain a weak shock in the 8600-9300 range in the short term, it is recommended to take a short position around 9200
.

LLDPE

Raw material price: Japan naphtha CF Japan reported 414.
38 yuan / ton, down 2; Naphtha FOB Singapore was trading at $44.
42 a barrel, down 0.
22
.
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; The price in the domestic market was basically flat, and North China Daqing reported 8900 yuan / ton, flat; East China Yuyao Jilin Petrochemical 8950 tons, flat; South China reported 9,080 yuan / ton, up 30
.
Northwest Dushanzi reported 8850 yuan / ton, up 50
.

News side: 1.
The total amount of PE social stocks this week decreased by more than 7,500 tons compared with the previous cycle (June 22), a decrease of about
2.
9%.

Warehouse receipt data: 63
.

Fundamentally, near the end of the month traders open a single task to take goods, petrochemical linear inventory overall low, factory prices firm, in the later stage, the market for high-priced raw materials procurement enthusiasm is low, coupled with futures premium spot, some bulls took profits, it is expected that short-term futures prices have limited room to rise
.

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