echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Continuous plastic narrow finishing The bulls have a slight advantage

    Continuous plastic narrow finishing The bulls have a slight advantage

    • Last Update: 2022-12-15
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Market situation: continuous plastic narrow finishing, L1905 opened at 8470 yuan / ton, the highest reported 8510 yuan / ton, the lowest reported 8430 yuan / ton, closed 8475 yuan / ton, +0.
    77% from the previous trading day; Volume 202796 lots; Position 264260 lots, -13954 lots, basis 175 yuan, +130 yuan
    .

    Continuous plastic

    In terms of news, the total production capacity of Zhongtian Hechuang PE plant is 670,000 tons, of which 120,000 tons/year of LDPE (kettle) device, 250,000 tons/year of LDPE (tubular) device, 300,000 tons/year full-density device and 120,000 tons of LDPE kettle type, high-voltage device was originally planned to stop from April 2 to April 9 due to power restrictions, and is now postponed to about 8 days to stop the tube type device
    .

    In terms of market, the focus of the domestic polyethylene market has shifted
    upward.
    The opening price of the main regional chemical sales company is basically stable, supported by the rise of plastic futures, the spot market merchants are more tempted to overreport, downstream users take goods on demand, and the transaction center of gravity has moved
    up.
    As of the morning close, the North China market was 50-150 yuan / ton; East China market rose slightly by 50 yuan / ton; The South China market rose slightly by 50 yuan / ton; The southwest market rose slightly by 50 yuan / ton
    .

    Warehouse receipt inventory: exchange warehouse receipt reported 0 lots; It is in the historically low area and stable
    during the day.
    Main positions: The top 20 long positions in the main contract are 82806 lots, -8189 lots, short positions are 105731 lots, -7216 lots, and net long positions are -22925 lots, -974 lots
    .

    The strong trend of crude oil prices has some support for Liansu, but the downstream demand is general, the continuous high level of social inventory to a certain extent to suppress the price of LLDPE, technically, L1905 contract narrow finishing, the close is still subject to the pressure of the 20-day moving average, the volume and position have shrunk
    sharply.
    The main position shows that the main position reduction of the long party is greater than the main position reduction of the short side, and the short side takes the initiative
    .
    The indicator MACD flattened, the red bar appeared, and the KDJ indicator quickly recovered, indicating that the bulls had a slight advantage
    .
    Operationally, the increase is subject to the 20-day moving average, and it is recommended that investors can reduce their positions
    when they hedge high.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.