LLDPE volatility closed higher futures prices bottomed out

Raw material prices: Japan naphtha CF Japan reported 484.
5 yuan / ton, up 7.
88; naphtha FOB Singapore reported 52.
76 US dollars / barrel, up 0.
97
.
ethylene CFR Northeast Asia 1140 US dollars / ton, flat; CFR Southeast Asia was flat at $1,035/mt
.

Spot price: The price of foreign spot market fell, the Far East reported 1130 yuan / ton, down 15, and the Middle East reported 1116 yuan / ton, down 15
.
The market price was basically flat, North China Daqing reported 9350 yuan / ton, flat; East China Yuyao Jilin Petrochemical 9650 tons, up 50; South China reported 9650 yuan / ton, flat
.
Northwest Dushanzi reported 9300 yuan / ton, unchanged
.

News side: 1.
According to Longzhong statistics, the total amount of PE social inventory increased slightly this week, an increase of 0.
1%
over the same period last week.
2.
The average operating rate of polyethylene petrochemical plants this week is around 99%, an increase of 3 percentage points
over last week.

Summary of views: The total amount of polyethylene social inventory increased slightly this week, and the market supply pressure was still large, but the high price of crude oil boosted the chemical products slightly, the futures price bottomed out, and the futures market rose or drove the enthusiasm of the terminal just need to take goods, which helped alleviate the pressure on petrochemical inventory, but short-term futures moved positions, and the price fluctuated greatly
.
Technically, LLDPE1705 contract oscillations higher, above test the pressure around 9600, short-term or cover the upper gap, below test around 9200 support, futures price short-term maintenance in the 9200-9600 range wide volatility, it is recommended to rely on the five-day line to go long
.