There is pressure on the plastic and support at the bottom

News: As of March 14, the total social inventory of polyethylene increased by about 23,000 tons, an increase of 4.
9%, 11%
lower than the same period last year.
At present, petrochemical inventories are up 1.
2% from the previous data, 4.
6% lower than the same period last year, and the pressure on petrochemical inventories is not large
.
However, the inventory digestion of intermediate links is slow, and from the statistical point of view, traders are under greater pressure to destock, and the inventory is still high
.

Raw material prices: naphta CF Japan reported $564 / ton, up 1.
17%; FOB Singapore was trading at $61.
38 a barrel, up 1.
2 percent
.
ethylene CFR Northeast Asia 1335, flat; CFR Southeast Asia was flat at $1250/mt
.

Spot prices: Far East reported 1205 yuan / ton, flat, Southeast Asia reported 1225 yuan / ton, down 5 US dollars
.
North China Tianjin Daqing reported 9250 yuan / ton, flat; East China Yuyao Daqing Petrochemical 9400 tons, flat; South China Guangzhou Maoming reported 9500 yuan / ton, up 100 yuan; Northwest Dushanzi reported 9500 yuan / ton, unchanged
.

Liansu 1805 contract narrow finishing, flat and basically stable, multi-air break
.
Fundamentally, traders have high inventories, weak downstream demand, and the decline in spot prices has formed a certain suppression of futures prices, but last week's social inventories have slowly fallen, and it is expected that the pattern of inventory declines this week will continue
.

Technically, the LLDPE1805 contract has pressure and support below, and is looking for direction
in the short term.
In terms of technical indicators, the MACD green column is shortened, and the KDJ indicator has signs of a low golden cross, and the rebound may continue
.
Tomorrow, watch for whether the pressure on the 9450 line can be effectively broken
.
Operationally, investors are advised to wait and see for the time being, waiting for the trend to become clear
.