LLDPE main force low open low demand remains to be seen

In terms of news: 1.
The total inventory of PE of the two barrels of oil in this cycle rose slightly, up 5.
6% week-on-week and down 8.
79%
year-on-year.
Among them, Sinopec's PE inventory increased by 5.
87% week-on-week; CNPC PE inventories rose 5.
44%
week-on-week.

2.
Affected by the National Day holiday, the sales company's shipment progress was advanced, and the inventory part was transferred to the middle of
the market.
However, the trend of linear futures is weak, downstream enterprises are limited in production, and the enthusiasm for pre-holiday stocking is not good, merchants are not shipping smoothly, and inventories are high
.
According to Longzhong Information statistics, the PE inventory of sample traders in the polyolefin industry rose by 3.
82%
week-on-week this week.

Upstream raw materials market: The price of naphtha in the Japanese market continued to decline, at $498.
88/ton, -17.
62
.
The ethylene Asian market is quoted at $850/ton, 0, and in Southeast Asia, $800/ton, 0
.

Spot market: The LLDPE spot market traded flat, and prices were generally lowered
.
North China down 30-100 yuan / ton, the mainstream price is 7550 yuan / ton, 0; East China is down 50 yuan / ton, the mainstream price is 7700 yuan / ton, -50; South China is down 100 yuan / ton, the mainstream price is 7800 yuan / ton, 0
.

Warehouse receipt inventory: exchange warehouse receipt reported 2482 lots, intraday -16 lots; In the historical median zone
.

Main position: The top 20 long positions in the main contract are 210644 lots, -15747 lots, short positions are 228015 lots, -3402 lots, net positions are -17371 lots, net space increases
.

Summary: Crude oil prices continued to fall due to the negative impact of EIA inventory growth exceeding expectations; Naphtha prices also extended their decline, with cost support weakening
.
Downstream agricultural film orders accumulated, and construction starts increased; However, affected by the holiday in the later stage, some agricultural film enterprises stopped work and limited production, raw material inventory accumulated, merchants' enthusiasm for replenishment weakened, and demand remained to be seen
.
Affected by the poor enthusiasm of the downstream, merchants' shipments were not smooth, the PE inventory of two barrels of oil and the inventory of traders increased, and some polyethylene plants began to reduce load
.
The spot market is still light, and merchants mainly
let profits take goods.
L2001 opened low and lower, below to test the support near the 60-day moving average, MACD red bar contraction, pre-holiday price is expected to remain weak finishing, focus on support around 7400 below, focus on pressure around 7600 above
.