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May 23 LLDPE morning review

 Last Update: 2022-12-02
 Source: Internet
 Author: User

Tags

north american news

methanol

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On Friday, the LLDPE1609 contract closed in volatility, testing pressure around 8300 above, focusing on support around 7800-7900 below, and it is recommended to open long orders around 7800-7900 during the day, stop loss 7700, target 8300
.

LLDPE

Raw material prices: 1, Japan naphtha CF Japan reported 424.
38 yuan / ton, up 7.
38; naphtha FOB Singapore reported 45.
39 US dollars / barrel, up 0.
77
.
Ethylene CFR Northeast Asia was at $1170/ton, down 10, and CFR Southeast Asia was at $1135/ton, down 5
.

Spot prices: foreign spot market prices fell slightly, Far East reported 1110 tons, down 10; East reported $1100/ton, down 10; The price in the domestic market was basically flat, and North China Daqing reported 8600 yuan / ton, flat; East China Yuyao Jilin Petrochemical 8800 tons, flat; South China reported 8850 yuan / ton, down 50
.
Northwest Dushanzi reported 8600 yuan / ton, unchanged
.

News side: 1.
Shenhua Xinjiang's plant was put into feed today's gasifier for trial production of methanol, trial production of olefins on June 1, trial production of polyolefins on June 10, LDPE production of 2426H, high-pressure production capacity of 270,000 tons
.

Warehouse receipt data: 1536, down 744
from the previous trading day.

On the whole, near the end of the year, traders opened orders to take goods, petrochemical inventory cleared, the overall social inventory level decreased slightly, the spot market price was stable, coupled with the narrowing of petrochemical profit margins, it is expected to support the price strengthening
.

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