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Monday's plastic 2105 contract fluctuated all day high small black candlestick closed at 8030 (previous day's price 8045?), the pattern is a high volatility, above has reached short-term pressure, there is a need for adjustment, it is recommended to wait and see
.
In terms of fundamentals, spot market prices, LLDPE prices in North China are 7900-8150 yuan / ton, East China is 8000 yuan / ton, and South China is 8000-8050 yuan / ton
.
In terms of news, OPEC+ adhered to the production reduction policy and stance unchanged, the US House of Representatives passed a budget resolution, the new economic stimulus package of 1.
9 trillion yuan took a key step, and international oil prices rose
for four consecutive years.
In terms of the market, the price of ethylene in Asia fell on February 4, and CFR Northeast Asia closed at $850 / ton; The price of LLDPE was flat, and CFR Far East closed at $999/mt
.
Upstream inventories remained low, hitting a three-year record low, which strongly supported prices
.
Downstream stocking is nearing the end, the market is just demand-based, the start of construction has fallen month-on-month, and supply and demand are stable
.
Crude oil prices continue to rise, and costs are pushing up the chemical sector
.
Plastics have reached short-term pressure, there is a need for adjustment, it is recommended to wait and see
.