Liansu rebounded slightly There are still short-term pullback requirements

News: As of October 17, domestic polyethylene social inventories fell slightly from the previous cycle, down 2.
5%.

Among them, the inventory in Northeast, North China and Central China increased, and the inventory in South China and East China showed a decline due to the shutdown and maintenance of petrochemical enterprises in the region
.
Statistics by classification: the inventory of oil-based PE enterprises declined, with a decrease of 4.
12%; Coal PE inventories continued to rise, rising by 5.
81%.

By model: LDPE and LLDPE product inventories were higher than the previous cycle, up 8.
91% and 20.
75% respectively; HDPE product inventories decreased by 18.
3%
from the previous cycle.

Raw material price: naphtha CF Japan reported 697.
62 US dollars / ton, +1.
73%; FOB Singapore is trading at $75.
7/b, +1.
69%.

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.
52%; East China Yuyao reported 9750 yuan, -0%; South China Guangzhou 9900 yuan, -0%; Northwest Dushanzi 9800 yuan, -0.
51%.

The Liansu 1901 contract rebounded slightly, with volume amplified, but holdings significantly reduced
.
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, indicating that there are still short-term pullback requirements
.
In terms of operation, it is recommended that investors set a take profit in their hands and hold
them cautiously.