Liansu fluctuated in a narrow range in the morning and fell back in the afternoon

News: According to statistics: by the end of 2017, the total domestic ethylene production capacity reached about 24.
3 million tons, an increase of 4% year-on-year; Production reached more than 18.
2 million tons, an increase of 2.
4%
year-on-year.
Ethylene imports reached 2.
16 million tons, an increase of 30%
year-on-year.
With the growing demand for ethylene-derived products such as polyethylene and ethylene glycol, the domestic demand for ethylene has grown
steadily.
In 2017, the apparent consumption of ethylene was about 20.
37 million tons, a year-on-year increase of 4.
8%; The equivalent consumption of ethylene is about 39 million tons, and the equivalent gap is more than 20 million tons, and the phenomenon of ethylene and its derivatives relying on imports is more serious
.

Raw material price: naphtha CF Japan reported 679.
75 US dollars / ton, up 1.
93%; FOB Singapore was trading at $73.
96 a barrel, up 1.
89%.

ethylene CFR Northeast Asia 1320 US dollars / ton, flat; CFR Southeast Asia was flat at $1215/mt
.

Spot prices: Southeast Asia was flat at $1,130; Far East reported 1090 yuan / ton, unchanged
.
Domestic price: North China Daqing reported 9500 yuan, down 50 yuan; East China Yuyao reported 9,500 yuan, flat; South China Guangzhou 9850 yuan, up 200 yuan; Northwest Dushanzi 9600 yuan, flat
.

The Liansu 1901 contract fluctuated in a narrow range in the morning and fell back in the afternoon, and the position increased sharply, indicating that there were short funds entering the market
.
Fundamentally, spot prices are stable, and petrochemical prices support them, but Asian ethylene prices have fallen, and a slight recovery in social inventories has put certain pressure
on futures prices.

Technically, the MACD indicator oscillates back, the green column flattens, the KDJ indicator repeats its low level, and the rebound may die
.
In terms of operation, it is recommended that investors wait and see for the time being
.