Liansu rebounded slightly There are some signs of overselling in the short term

News: On June 10, the civil engineering of the 800,000 tons/year ethylene steam cracker of the Gulei refining and chemical integration project was successfully started
.
The project mainly imports crude oil and naphtha, supplemented by diversified raw materials such as natural gas and coal, and adopts international advanced crude oil processing technology and ethylene, aromatics and other production technologies to produce clean fuels and high-end petrochemical products
in accordance with the large-scale, intensive and integrated development model.
After the project is completed and put into operation, it will form a petrochemical industry cluster facing the domestic and Southeast Asian markets, dislocation development with surrounding petrochemical bases, and integration of upstream and downstream, which is of great significance
to enhance the competitiveness of the petrochemical industry on the west coast of the strait.

Spot market: The domestic polyethylene market atmosphere is weak
.
In terms of enterprises, the main regional sales companies mainly shipped, and some linear opening prices were reduced, ranging from
50-150 yuan / ton.
In terms of the market, linear futures are weak and volatile, merchants have a wait-and-see attitude, active shipments, the market offer is partially lower, and the real market can be negotiated
.
As of the morning close, the price in North China was adjusted by 50-150 yuan / ton; East China is temporarily stable; The South China market fell by 50 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipt reported 1627 lots, intraday -0 lots; In the historical median zone
.
Main positions: The top 20 long positions in the main contract are 210286 lots, +3876 lots, short positions are 281888 lots, +7959 lots, and net long positions are -71602 lots, -4083 lots
.

Summary: Downstream demand generally suppresses the price of Liansu to a certain extent, but the US sanctions against Iranian chemical companies, the attack on two oil tankers in the Gulf of Oman and the peak of equipment maintenance support the price of LLDPE, and after continuous decline, there are also certain signs of
over-fall in the short term.
Technically, the current L1909 contract is in the correction market after the continuous decline, in the short term, the upper moving average still puts some pressure on it, whether it can build a successful bottom, it remains to be seen
.
The indicator MACD hovers low, the green bar contracts, and the KDJ indicator also hovers
low.
Short-term direction is unknown
.
Operationally, investors can operate
in the range of 7450-7700.