Liansu volatility went lower, and the position rose sharply

News: On April 18, social inventories this week fell 2.
9% from last week and 4.
4%
lower than the same period last year.
In terms of petrochemical inventories, petrochemical inventories in other regions declined except for the increase in petrochemical inventories in East China
.
In terms of traders, the inventory of large traders in North China increased, and traders in East China actively shipped goods, and inventories declined
.
Since mid-April, polyethylene maintenance equipment has been gradually increasing, and next week Zhenhai and Yanhai have an overhaul plan, with a cycle of more than 30 days, which has certain favorable support
for the supply side.
PE inventories may continue to decline
slowly next week.

Raw material prices: Japan naphtha CF Japan reported 617.
5 US dollars / ton, up 2.
11%; Naphtha FOB Singapore was trading at $68 a barrel, up 2.
04%.

ethylene CFR Northeast Asia 1360 US dollars / ton, flat; CFR Southeast Asia was flat at $1290/mt
.

Spot prices: Southeast Asia was flat at $1200; Far East reported 1170 yuan / ton, down $
5.
Domestic price: North China Daqing reported 9550 yuan / ton, up 50 yuan; East China Yuyao reported 9,700 tons, flat; South China Guangzhou reported 9600 yuan / ton, flat; Northwest Dushanzi reported 9700 yuan / ton, unchanged
.

The Liansu 1809 contract fluctuated lower, and the position rose sharply, indicating that there were short funds entering the market to suppress
.
Fundamentally, the strong trend of crude oil may support its price to a certain extent, but the decline in social inventories is slow, and the year-on-year increase in imported goods has suppressed
prices.

Technically, KDJ turned to the downside and the MACD red bar shortened, indicating that there are still adjustment requirements
in the short term.
Operationally, it is recommended that investors sell a small amount of short
on the rebound.