LLDPE opens high and goes low is recommended for range trading

News side: 1.
Qilu Petrochemical's 120,000 tons/year linear unit produces 7151U, 140,000 tons/year produces 22F in the first line and 2480 in the second line; 250,000 tons/year new low-pressure production 6098; The 140,000-tonne/year high-voltage unit was shut down on March 3, and it was heard that the shutdown was longer and may be postponed to the overhaul in May
.
The overhaul of the Qilu petrochemical plant is scheduled for May 5 with a 45-day
cycle.

Spot price: the price of foreign spot market rose, the Far East reported 1140 yuan / ton, up 10, the Middle East reported 1127 yuan / ton, up 10
.
The market price was basically flat, North China Daqing reported 9500 yuan / ton, flat; East China Yuyao Jilin Petrochemical 9650 tons, flat; South China reported 9700 yuan / ton, down 50
.
Northwest Dushanzi reported 9450 yuan / ton, unchanged
.

Raw material price: Japan naphtha CF Japan reported 452.
25 yuan / ton, down 1; Naphtha FOB Singapore was trading at $48.
86 a barrel, down 0.
11
.
ethylene CFR Northeast Asia 1140 US dollars / ton, down 5; CFR Southeast Asia was flat at $1,035/mt
.

Short-term petrochemical inventories continued to decline slightly, but remained at recent highs overall, limiting the upside
of futures prices.
Downstream just need to take goods, more maintain small order procurement, enthusiasm is not high
.
Short-term futures contracts are moved for months, the fluctuation range of futures prices increases, and the spread of LLDPE5-9 contracts widens.

Technically, LLDPE1705 contract reduced positions to close down, above test the pressure around 9450, below test around 9200 support, short-term is expected to maintain in the 9200-9450 range shock, recommended range trading, arbitrage 20-30 can intervene in positive arbitrage
.