LLDPE volatility closed lower and maintained a volatile momentum

Raw material prices: Japan naphtha CF Japan reported 487.
62 yuan / ton, up 2.
5; naphtha FOB Singapore reported 52.
79 US dollars / barrel, up 0.
3
.
ethylene CFR Northeast Asia 1315 US dollars / ton, flat; CFR Southeast Asia was trading at $1125/mt, down 20
.

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 9700 yuan / ton, up 50; 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.
The average operating rate of polyethylene petrochemical plants this week is around 94%, down 3 percentage points
from last week.
From a regional point of view, the operating rate of the four major regions is not much different, and all remain between
92-95%.

Short-term downstream enthusiasm is weak, although the inventory has declined slightly, but the overall supply pressure is still large, some petrochemical guidance prices continue to decline, heard that Pucheng clean energy reduced the operating rate, takeaway methanol, market supply pressure or slightly eased, pay attention to the downstream willingness to receive goods and inventory digestion after the price decline, short-term futures prices are expected to maintain a volatile trend
。 Technically, the LLDPE1705 contract closed down in shock, 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.