LLDPE volatility closed higher, and market supply pressure eased slightly

Raw material prices: Japan naphtha CF Japan reported 485.
12 yuan / ton, down 0.
5; naphtha FOB Singapore reported 52.
49 US dollars / barrel, down 0.
05
.
ethylene CFR Northeast Asia 1315 US dollars / ton, down 60; CFR Southeast Asia was flat at $1145/mt
.

Spot price: The foreign spot market price is basically flat, the Far East reported 1130 yuan / ton, flat, the Middle East reported 1118 yuan / ton, flat
.
Market prices rose slightly, North China Daqing reported 9650 yuan / ton, up 100; East China Yuyao Jilin Petrochemical 9750 tons, flat; South China reported 9800 yuan / ton, flat
.
Northwest Dushanzi reported 9700 yuan / ton, unchanged
.

News side: 1.
Qilu Petrochemical's 120,000 tons/year linear unit has a production of 7042, 140,000 tons/year of low-pressure first-line production of 22F, and second-line production of 2480; 250,000 tons/year new low-pressure production 1158; The 140,000 tons/year high-voltage unit was stopped on
the 3rd.
The overhaul of the Qilu petrochemical plant is scheduled for May 5 with a 45-day
cycle.

In the short term, in the continuous decline of the market, the downstream enthusiasm for taking goods is weak, although the inventory has declined slightly, but the overall supply pressure is still large, petrochemical guidance prices continue to decline, heard that Pucheng clean energy reduces the operating rate, takeaway methanol, market supply pressure or slightly eased, pay attention to the downstream willingness to receive goods and inventory digestion ability after the price falls, short-term futures prices are expected to maintain a volatile trend
。 Technically, the LLDPE1705 contract closed up in volatility, testing the pressure around 9850 above, testing the support around 9600 below, and the short-term is expected to remain in the 9600-9850 range, it is recommended to go long
in the 9600-9850 range.