Liansu weak finishing intraday shrinkage and position reduction

News: The impact of polyethylene plant maintenance in the second quarter was nearly 210,000 tons less than the same period last year, and the maintenance volume of polyethylene plant in June was significantly lower than the same period
last year.
From the perspective of the maintenance cycle, this year's equipment is still concentrated in April to July for maintenance, and after entering August, most of the equipment will return to normal
.
The reduction in maintenance volume is expected to be limited
for price support.

Raw material prices: Japan naphtha CF Japan reported 616.
5 US dollars / ton, down 0.
16%; Naphtha FOB Singapore was trading at $67.
77 a barrel, down 0.
34%.

ethylene CFR Northeast Asia 1340 US dollars / ton, down 20 US dollars; CFR Southeast Asia was trading at $1270 a tonne, down $
20.

Spot prices: Southeast Asia was flat at $1200; Far East reported 1170 yuan / ton, unchanged
.
Domestic price: North China Daqing reported 9550 yuan / ton, flat; East China Yuyao reported 9650 tons, down 50 yuan; South China Guangzhou reported 9600 yuan / ton, flat; Northwest Dushanzi reported 9700 yuan / ton, unchanged
.

Liansu 1809 contract was weakly sorted out, and intraday contraction and position reduction, indicating that the short-term trend is still weak
.

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, the KDJ oscillation is lower and the MACD red column is shortened, indicating that there are still adjustment requirements
in the short term.

In terms of operation, it is recommended that investors hold short orders in their hands with caution, and short positions can sell a small amount on the rebound
.