Market supply and demand are weak, and the main LLDPE contract fluctuates lower

News: 1.
Yanshan Petrochemical PE old high voltage first-line production 1C7A; second-line production 1C7A; The third line produced 1C7A
.
The new high-voltage unit switched to EVA18J3
yesterday.
Low-voltage first-line device L501; The second-line production is 6800CP.

The new high-pressure load will be reduced by 20% and the old high-pressure and low-pressure load will be reduced by 5-10% within the day, until October 7
.

2.
Due to environmental protection requirements, Qilu Petrochemical low-voltage B line has been stopped, and the 120,000 tons/year full-density device has been stopped, and the parking time is expected to be October 3
.

3.
Longzhong Information reported on September 25: Zhenhai Refining and Chemical PE plant was converted to 7042, and the production capacity of full-density plant was 450,000 tons/year
.
Sichuan Petrochemical Polyethylene low-pressure plant produces 100N, and the full-density unit is converted to 7042, and the plant involves a production capacity of 300,000 tons of low-pressure and 300,000 tons of full density
.

Upstream raw materials market: The price of naphtha in the Japanese market continued to decline at $516.
5/ton, -3
.
The ethylene Asian market is quoted at $850/mt in Northeast Asia, -30, and $800/mt, -10
in Southeast Asia.

Spot market: The LLDPE spot market traded flat, and prices were generally lowered
.
North China adjusted 30-50 yuan / ton, the mainstream price is 7550 yuan / ton, -30; East China is reduced by 50 yuan / ton, the mainstream price is 7750 yuan / ton, -50; South China is reduced by 100 yuan / ton, the mainstream price is 7800 yuan / ton, 0
.

Warehouse receipt inventory: exchange warehouse receipt reported 2498 lots, intraday - 26 lots; In the historical median zone
.

Main position: The top 20 long positions in the main contract are 228162 lots, -3933 lots, short positions are 239549 lots, +6012 lots, net positions are -11387 lots, net space increases
.

Summary: Naphtha prices and ethylene prices in Asia both continued to fall, with weakening
cost support.
The destocking speed was acceptable this week, and some polyethylene units began to reduce loads
.
Downstream agricultural film orders accumulated, and construction starts increased; However, affected by the holiday in the later stage, some agricultural film enterprises stopped work and limited production, raw material inventory accumulated, merchants' enthusiasm for replenishment weakened, and demand remained to be seen
.
The spot market is generally traded, and under the pattern of weak supply and demand, merchants mainly
let profits take goods.
L2001 oscillation lower, hourly KDJ indicator opening diverged downward, below focus on support around 7500, pre-holiday expected price to be weak
finishing.