The retreat of continuous plastic shocks shows that the short-term trend is still weak

News: The trading center of the domestic polyethylene market continues to decline
.
In terms of petrochemicals, the main regional chemical sales company has lowered the prices of some high-pressure and low-pressure products, ranging from
100-300 yuan / ton.
In terms of the market, futures opened low and downward, the trading atmosphere of the spot market was poor, merchants partially shipped upside down, and real orders negotiated transactions
.
As of the midday close, the price in the North China market was 50-200 yuan / ton; The import material in the East China market fell by 100 yuan / ton, and the price of domestic material did not change much; The South China market fell in a negative range, with a range of 50-100 yuan / ton
.

Raw material price: naphtha CF Japan reported 526 US dollars / ton, -2.
19%; FOB Singapore is trading at $59.
89/b, -3.
62%.

ethylene CFR Northeast Asia 920 US dollars / ton, -0%; CFR Southeast Asia is trading at $835/mt, -0%.

Spot price: Southeast Asia quoted $1110, -0%; Far East reported 1040 yuan / ton, -0%.

Domestic price: North China Daqing reported 9400 yuan, -0.
53%; East China Yuyao reported 9450 yuan, -0.
53%; South China Guangzhou 9750 yuan, -0%; Northwest Dushanzi 9600 yuan, -0%.

Summary of views: The L1901 contract fell back in volatility, and the volume and position rose sharply, indicating that the short-term trend is still weak
.
Fundamentally, the continued decline in crude oil and ethylene has suppressed
the price of LLDPE.

Technically, MACD is flat at a low level and KDJ is hovering at a low level, indicating that the short-term trend is still weak
.
Operationally, it is advisable
for investors to wait and see for the time being.