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On Tuesday, the LLDPE1609 contract closed slightly lower, testing the pressure around 8300 above, focusing on support around 8000 below, and it is expected to maintain a strong oscillation in the 8000-8300 range in the short term, and it is recommended to go long
on dips.
News side: 1.
The overall operating rate of polyethylene petrochemical plants this week is around 73%, up 3 percentage points
from last week.
During the statistical period, the average operating rate in North China continued to decline, while the operating rate in Central China increased, while other regions did not change much
.
Raw material prices: 1, Japan naphtha CF Japan reported 427.
62 yuan / ton, down 3; Naphtha FOB Singapore was trading at $45.
64 a barrel, down 0.
26
.
Ethylene CFR Northeast Asia was flat at $1,055/mt, and CFR Southeast Asia was flat at $1,045/mt
.
Spot prices: foreign spot market prices rose slightly, Far East reported 1095 US dollars / ton, up 5; The Middle East was reported at $1085/ton, up 5; Domestic market prices rose slightly, North China Daqing reported 8600 yuan / ton, up 100; East China Yuyao Jilin Petrochemical 8900 tons, flat; South China reported 8800 yuan / ton, flat
.
Northwest Dushanzi reported 8650 yuan / ton, unchanged
.
Warehouse receipt data: 68.
Short-term social inventory fell slightly, the overall social inventory pressure is not large, and petrochemical profits remain at a relatively low level, although the traditional demand is off-season, but petrochemical prices remain firm, coupled with the repair of the current price difference, it is expected that the futures price is expected to bottom out.