echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Liansu rebound is weak below to pay attention to the support of the 7650 line

    Liansu rebound is weak below to pay attention to the support of the 7650 line

    • Last Update: 2022-12-16
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Market situation: Liansu rebound is weak, L1909 opened at 7760 yuan / ton, the highest was 7815 yuan / ton, the lowest was 7715 yuan / ton, and the close was 7765 yuan / ton, +0.
    19% from the previous trading day; Volume 400208 lots, -121038 lots; Position 653638 lots, -10828 lots, basis 235 yuan, -55 yuan, 9-1 spread -5 yuan, -75 yuan
    .

    Continuous plastic

    News: polyethylene production in April 2019 was 1,433,300 tons, down 75,900 tons from the previous month (1,509,200 tons), and an increase of 194,000 tons over the same period last year (1,239,300 tons), of which 581,500 tons were linear, 637,000 tons were low pressure and 214,800 tons
    were high pressure.

    Spot market: The price of domestic polyethylene market is mixed
    .
    In terms of enterprises, the opening price of mainstream regional sales companies has been partially reduced, ranging from
    50-150 yuan / ton.
    Linear futures opened high and fluctuated, spot market merchants waited and watched, offers were mixed, downstream goods were on demand, and the actual order trading atmosphere was flat
    .
    As of the morning close, North China adjusted 50-150 yuan / ton; East China adjusted around 50 yuan / ton; South China adjusted 50 yuan / ton
    .

    Warehouse receipt inventory: exchange warehouse receipts reported 2141 lots; In the historical median zone, intraday -120 lots
    .
    Main positions: The top 20 long positions in the main contract are 194412 lots, -5023 lots, short positions are 238408 lots, -4243 lots, and net long positions are -43996 lots, -780 lots
    .

    Summary: The high level of crude oil falls, the Sino-US trade war intensifies, and the downstream demand for plastics generally suppresses the price of Liansu, but the increase in equipment maintenance and the decline in the two oil inventories will support the price of LLDPE
    .
    Technically, the L1909 contract is narrowly sorted, the trading volume and position volume have shrunk sharply, and the main position shows that the main position reduction of the long party is greater than the main force of the short position, and the short side is dominant
    .
    The indicator MACD is flattening low, the green bar is elongated, and the KDJ indicator shows signs
    of a median turn downward.
    Operationally, investors can continue to hold short orders in their hands, and pay attention to the support of the 7650 line below
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.