Liansu rebound blocked Holdings shrank slightly

News: The focus of the domestic polyethylene market shifted
downward this week.
In order to avoid the risk of rising inventory, petrochemical enterprises reduced prices to facilitate delivery, merchants followed up underreporting, and some upside-down shipments, but downstream enterprises were more bearish, small orders were purchased to maintain just production, and industry inventory was partially transferred from the production end to the intermediate link, and was not effectively consumed
.
At present, the mainstream price of the linear market is 9650-9950 yuan / ton, down 50-200 yuan / ton from last week; The mainstream price of the high-pressure market is 9700-10100 yuan / ton, down 100-200 yuan / ton from last week; The overall low pressure varieties are lower, ranging from
150-500 yuan / ton.

Raw material price: naphta CF Japan reported 675.
25 US dollars / ton, -3.
21%; FOB Singapore is trading at $73.
2/b, -3.
3%.

ethylene CFR Northeast Asia 1100 US dollars / ton, -0%; CFR Southeast Asia is trading at $1,010/mt, -0%.

Spot price: Southeast Asia quoted at $1130, +0%; Far East reported 1100 yuan / ton, -0%.

Domestic price: North China Daqing reported 9650 yuan, -0%; East China Yuyao reported 9750 yuan, -0%; South China Guangzhou 9900 yuan, -0%; Northwest Dushanzi 9850 yuan, +0.
51%.

The rebound of the Liansu 1901 contract was blocked, the trading volume was basically flat, and the position volume shrank slightly, indicating that the upward pressure is still large
.
Fundamentally, the management tax reduction and RRR reduction constitute a certain support for the market, but the decline in raw material prices, the flat downstream demand, and the slight recovery of social inventories have suppressed
prices.

Technically, MACD and KDJ indicators have fluctuated lower, and it is difficult to bottom out in the short term
.
In terms of operation, it is recommended that investors set a take profit in their hands and hold
them cautiously.