Supply and demand pressures have eased LLDPE main contracts open higher and lower

News: 1.
Longzhong Information reported on August 22 that the Sino-An United Polyethylene Unit continued to stop due to an unexpected failure on the 10th, and it is planned to drive
tomorrow (23rd).
The plant involves a production capacity of 350,000 tons/year
.
2.
This week, the polyolefin dollar market was mixed
.
The high pressure fell $10 to $960
.
The European polyolefin market remained largely stable
.
Most of the Asian markets have retreated
.
In the CFR Far East market, PP fell by a large margin, ranging
from $5--$50.
PE also fell back $10-15
.
In the Southeast Asian market, PP fell by $20 and PE fell by $
45.

Upstream raw materials market: The price of naphtha in Japan continued to rise, at $471.
50/ton, +0.
64%.

The price of ethylene in the Asian market stabilized, of which the quotation in Northeast Asia was 930 US dollars / ton, 0; in Southeast Asia, it was 840 US dollars / ton, 0
.

Spot market: The domestic LLDPE spot market generally lowered the unit price
.
The price in the North China market fell by 20-50 yuan / ton, the mainstream price was 7450 yuan / ton, -30; the price in the East China market stabilized, and the mainstream quotation was 7500 yuan / ton; The South China market dropped by 50 yuan / ton, and the mainstream price was 7600 yuan / ton, 0
.

Warehouse receipt inventory: exchange warehouse receipts reported 2229 lots, intraday +223 lots; In the historical median zone
.
Main position: The top 20 long positions in the main contract are 236317 lots, +25494 lots, short positions are 281600 lots, +24650 lots, and the net position is -45283 lots, with a net increase
in short.

Summary: Higher naphtha prices still support
cost prices.
On the supply side, PE two barrels of oil inventories and trader inventories fell slightly, down 1.
81% and 1.
13% respectively; During the week, Shenhua Xinjiang, China Coal Yulin and other equipment maintenance and parking; Downstream agricultural film orders gradually followed, with an increase of about
3.
7%.
Supply and demand pressures are showing signs of
easing.
However, the merchant mentality is still pessimistic, the spot market is also dominated by profit shipments, the trading atmosphere is general, and most downstream enterprises continue to maintain just need to purchase, cautious wait-and-see
.
Prices are expected to be weakly volatile
.
L2001 contract opened high and lower, broke through the moving average system downward, hourly KDJ indicator is in the oversold zone, the space below may be limited, focus on the 7300 line of support, the price is expected to remain weak and volatile
.