The short-term trend is still weak

News: The total social inventory of polyethylene this week increased by about 39,000 tons, an increase of 9.
3%, 16%
lower than the same period last year.
At present, petrochemical inventories are down 4.
8% from the previous period, 10% lower than the same period last year, and the current petrochemical inventory pressure is not large
.
The market trend after the holiday is uncertain, the intermediate link inventory has not been limited digestion, this week's statistics, traders inventory is still on the high
side.
Polyolefin port inventories rose this week, with Shanghai port inventories at 243,000 mt (adjusted, last week's 23.
8), Huangpu port inventory at 73,000 mt and Tianjin port inventory at 74,000 mt
as of March 2.

Raw material prices: naphtha CF Japan reported 562.
5 US dollars / ton, down 0.
44%; FOB Singapore was trading at $61.
23 a barrel, down 0.
46%.

ethylene CFR Northeast Asia 1310, up $10; CFR Southeast Asia was flat at $1230/mt
.

Spot price: Far East reported 1210 yuan / ton, flat, the Middle East reported 1184 yuan / ton, flat
.
North China Tianjin Daqing reported 9350 yuan / ton, down 130 yuan; East China Yuyao Daqing Petrochemical 9450 tons, down 100 yuan; South China Guangzhou Maoming reported 9450 yuan / ton, flat; Northwest Dushanzi reported 9550 yuan / ton, unchanged
.

Today, the LLDPE1805 contract opened low and fluctuated, finishing below yesterday's settlement price throughout the day, and the short-term trend is still weak
.
Fundamentally, traders' inventories are high, downstream demand is weak, and spot prices fall to a certain extent to suppress
futures prices.
The future market will pay attention to whether it will cause the replenishment behavior of demanders after a continuous decline
.
Technically, the LLDPE1805 contract closed at a low negative cross, and the intraday position reduction was obvious
.
KDJ dead fork downward, MACD green bar longer, still weak
in the short term.
Operationally, the investment rebounds back to short orders
.