Polyethylene futures open low and run weakly, and the short-term downside is limited

Spot market: domestic PE partially loosened
during the day.
In terms of petrochemicals, the low-pressure part of China oil rose by 50-200 yuan / ton in East China; Some products of CNPC in North China are batched; The northeast region of China oil linear rose by 50 yuan / ton, linear part of the batch; In the northwest region, the high pressure of medium oil rose by 150 yuan / ton and 150-200 yuan / ton linearly; The rest are stable
for the time being.
CNPC factory part of the factory is raised, futures open low is weak, the "two sessions" is expected to be good, the market price mentality is most, but the terminal enterprises have insufficient orders, strong resistance to high-priced raw materials, resulting in the obstruction
of high-price transactions.

At its ministerial meeting on March 4, local time, OPEC+ decided to maintain its oil production policy unchanged in April, with the exception
of Russia and Kazakhstan.
Saudi Arabia continued to voluntarily cut additional oil production in April, maintaining the scale of production cuts at 1 million b/d
.
Under the influence of global economic stimulus, with the release of the consumption power of low- and middle-income groups (automotive products), the oil market may usher in a new round of super cycle, PE cost support is strong, short-term domestic PE or downside space is limited
.
Up to now, the quotation of LLDPE in North China is 8750-9100 yuan / ton, the quotation of LLDPE in East China is 8800-9150 yuan / ton, and the quotation of LLDPE in South China is 9080-9200 yuan / ton
.