Supply and demand contradictions still exist The main contract of LLDPE closed in a narrow range

News: 1.
Lanzhou Petrochemical's 200,000-ton high-voltage device is stopped for maintenance, and the restart time is to be determined; The 60,000-ton old full-density plant was shut down on May 17, 2013 due to insufficient raw material supply and has not been restarted
.
The 300,000-ton full-density unit produced 7042N
.
The old line of 170,000 tons of low-voltage equipment produces 5000S, and the new line produces 7100M
.

Upstream raw materials market: The price of naphtha in Japan continued to rise, at $493.
13/mt, +6.
75
.
The ethylene market in Asia is quoted at $850/mt, -10, in Northeast Asia, and $790/mt, -10
, in Southeast Asia.

Spot market: The domestic LLDPE spot market price has generally increased the unit price
.
The North China market fell 50 yuan / ton, and the mainstream price was 7250 yuan / ton, -100
.
The East China market fell 50 yuan / ton, and the mainstream quotation was 7400 yuan / ton, 0
.
The South China market was flat, and the mainstream price was 7700 yuan / ton, +0
.

Warehouse receipt inventory: exchange warehouse receipts reported 3678 lots, intraday - 60 lots; It is in the all-time high zone
.
Main position: the top 20 long positions of the main contract are 248141 lots, -4558 lots, short positions are 280682 lots, -3180 lots, long and short are reduced together, and net space is reduced
.

Summary: Affected by OPEC's active production cuts, international oil prices continued to rise; Naphtha prices in the Japanese market also continued to rise, which supported costs to some extent
.
Merchants in the spot market continued to raise the unit price, and the transaction atmosphere became weaker
.
Port inventories declined, down 72,500 tons year-on-year, and the speed of destocking was acceptable
.
However, the downward transmission of inventory is still not smooth, the downstream agricultural film starts to grow slowly, the number of days used for raw material inventory is reduced, the market wait-and-see sentiment is strong, and merchants mainly consume current inventory
.
Although demand is expected to improve, there is still insufficient
support for prices.
L2001 main contract shock adjustment, short-term lower focus on support around 7250, above test of pressure around 7500, expected futures price to maintain 7250-7500 range fluctuations, recommended range recommendation
.