The low middle shaft hovered

News: The demand for agricultural film in North China basically ended in mid-to-late May, and the Northwest and Inner Mongolia regions were a little later, but most enterprises were shut down
by early June.
The agricultural film industry as a whole entered the off-season
.
Some manufacturers can receive sporadic orders for functional shed film and functional mulch film (weeding), but the order volume is small, and the start of construction is maintained at a low level, and the operating rate is about
10%-20%.
In addition, due to the basic end of demand for mulch film in May, manufacturers' demand for raw materials is limited, and most of them maintain low inventories
.
The inventory of enterprises above designated size remained at 10-15 days, down about 50% from the previous month, and the inventory of small and medium-sized enterprises was low, at 3-5 days
.

Raw material price: naphtha CF Japan reported 642.
12 US dollars / ton, down 0.
91%; FOB Singapore was trading at $70.
64 a barrel, down 1.
04%.

ethylene CFR Northeast Asia 1350 US dollars / ton, flat; CFR Southeast Asia was flat at $1225/mt
.

Spot prices: Southeast Asia was flat at $1170; Far East reported 1175 yuan / ton, unchanged
.
Domestic price: North China Daqing reported 9400 yuan / ton, flat; East China Yuyao reported 9650 tons, up 50 yuan; South China Guangzhou reported 9450 yuan / ton, down 50 yuan; Northwest Dushanzi reported 9700 yuan / ton, unchanged
.

The 1809 contract retreated higher, and the final session was still subject to the 20-day moving average, indicating that the upper pressure still exists
.
On the fundamental side, long and short coexist, and the peak period of device maintenance has formed a certain support for the price, but the downstream demand is sluggish, and the slow decline of social inventory has caused a certain suppression
of it.
Technically, the green bar of the MACD indicator is flat, and the low central axis of the KDJ indicator is hovering
.
The short-term direction is unknown
.
Operationally, it is advisable
for investors to wait and see.