Supply and demand pressures eased slightly, and LLDPE shocks closed higher

Raw material prices: Japan naphtha CF Japan reported 466.
38 yuan / ton, up 0.
5; naphtha FOB Singapore reported 50.
43 US dollars / barrel, up 0.
19
.
ethylene CFR Northeast Asia 1165 US dollars / ton, down 45; CFR Southeast Asia was trading at $1,080 a tonne, down 20
.

Spot price: The foreign spot market price is basically flat, the Far East reported 1130 yuan / ton, flat, the Middle East reported 1118 yuan / ton, flat
.
Market prices rose slightly, with North China Daqing reporting 9400 yuan / ton, flat; East China Yuyao Jilin Petrochemical 9550 tons, up 50; South China News 9750 yuan / ton, flat
.
Northwest Dushanzi reported 9400 yuan / ton, unchanged
.

News side: 1.
Qilu Petrochemical's 120,000 tons/year linear unit produces 7151U, 140,000 tons/year produces 22F in the first line and 2480 in the second line; 250,000 tons/year new low-pressure production 6098; The 140,000 tons/year high-voltage device was stopped on the 3rd and is expected to be stopped for about 20 days, the specific driving time is unknown
.

With the decline in prices, the enthusiasm of downstream low-priced small orders has increased, port inventory has fallen slightly due to inverted trade and export due to internal and external price differences, petrochemical equipment maintenance and operating rate have retraced, the overall supply growth rate has slowed down, the pressure of supply and demand has eased slightly, the factory price has stabilized, and the futures price has rebounded over-falling, but the social inventory still maintains a high level, or limits its upside
。 Technically, LLDPE1705 contract closed up in shock, short-term above test pressure around 9600, below test support around 9200, futures price to maintain over-bearish rebound trend, short-term is expected to make up for the previous gap, it is recommended to go long
in the 9200-9600 range.