LLDPE shock closed down terminal procurement willingness is not strong

Raw material prices: Japan naphtha CF Japan reported 507.
5 yuan / ton, down 2; Naphtha FOB Singapore was trading at $55.
15 a barrel, down 0.
2
.
ethylene CFR Northeast Asia 1375 US dollars / ton, down 10; CFR Southeast Asia was flat at $1145/mt
.

Spot price: The foreign spot market price fell, the Far East reported 1150 yuan / ton, down 10, the Middle East reported 1138 yuan / ton, down 10
.
Market prices fell, North China Daqing reported 9750 yuan / ton, up 50; East China Yuyao Jilin Petrochemical 9850 tons, flat; South China reported 9850 yuan / ton, down 50
.
Northwest Dushanzi reported 9750 yuan / ton, unchanged
.

News side: 1, Shanghai Petrochemical 1PE equipment first-line production Q210; second-line N150; 2PE device DJ210; The low-voltage device was overhauled from the 17th to February
27th.
The high-pressure production capacity of the device is 200,000 tons/year, and the low-pressure production capacity is 250,000 tons/year
.

This week, PE overall social inventory, port inventory continued to increase, higher than the same period last year, traders shipments are not smooth, inventory pressure is large, terminal procurement willingness is not strong, suppressing market prices, but near the end of the month, heard that some sales companies of Sinopec required contract households to perform 100% of the billing task this month, affected by this policy, short-term petrochemical inventory pressure has been slightly alleviated, today petrochemical pricing stabilized, but this part of the inventory transferred to contract traders, the overall social inventory pressure is still relatively large, not overly optimistic , pay attention to the later demand and the digestion capacity
of the equipment maintenance inventory.
Technically, the LLDPE1705 contract closed in volatility, testing pressure near the five-day line above, testing the first support level of 9600 below, and looking further towards 9300 if it falls below 9600
.