Liansu slightly lower opening short-term need to prevent technical adjustments

News side: As of August 10, PE's port inventory continued to decrease
.
Shanghai port inventory is about 272,000 tons, Huangpu port inventory is 67,000 tons, and Tianjin port inventory is 63,000 tons, with a total of 402,000 tons, down 17,000 tons
from last week.
As of the 14th, some petrochemical inventories in East China also continued to decrease compared with last week, a decrease of about 8.
7%.

Raw material price: naphtha CF Japan reported 647.
5 US dollars / ton, up 0.
70%; FOB Singapore was trading at $70.
68 a barrel, up 0.
74%.

ethylene CFR Northeast Asia 1400 US dollars / ton, flat; CFR Southeast Asia was flat at $1260/mt
.

Spot price: Southeast Asia was flat at $1125; Far East reported 1120 yuan / ton, unchanged
.
Domestic price: North China Daqing reported 9850 yuan, flat; East China Yuyao reported 9850 yuan, flat; South China Guangzhou 9750 yuan, flat; Northwest Dushanzi 9800 yuan, flat
.

The Liansu 1901 contract opened slightly lower, fell back in early trading, and stopped falling and rose in the afternoon under the support of the 10-day moving average, and the position continued to increase
significantly.
Fundamentally, the decline in social inventory and the firm spot price have formed a certain support for the price, but the continuous rise in the early stage has led to a certain profit selling pressure
in the short term.
Technically, the MACD indicator red bar has signs of flattening at a high level, while the KDJ indicator continues to be in a top divergence state, and it is necessary to guard against technical adjustments
in the short term.
Operationally, it is recommended that investors operate
in the range of 9680-9860.