Inventory is high, and even plastic shrinkage is sorted

News: According to the relevant regulations of the headquarters and combined with market conditions, the guidance price (estimated price) adopted by Sinopec budget naphtha in April 2018 was 3,900 yuan / ton, which was 150 yuan / ton
lower than the settlement price in March.
At the end of the month
, the headquarters announced the factory settlement price of the month and then settled the product in time.

Raw material prices: naphtha CF Japan reported 602.
25 US dollars / ton, down 0.
78%; FOB Singapore was flat at $66.
82 a barrel
.
ethylene CFR Northeast Asia 1385, flat; CFR Southeast Asia was flat at $1285/mt
.

Spot price: Southeast Asia reported 1190 yuan / ton, unchanged
.
Far East reported 1160 yuan / ton, flat
.
North China Tianjin Daqing reported 9400 yuan / ton, up 100 yuan; East China Yuyao Daqing Petrochemical 9550 tons, up 100 yuan; South China Guangzhou Maoming reported 9500 yuan / ton, up 50 yuan; Northwest Dushanzi reported 9,500 yuan / ton, up 100 yuan
.

The main LLDPE contract moved to L1809, which opened low and fluctuated, the position increased slightly, and the short position opened more
.

Fundamentally, high inventories, downstream demand off-season or a certain suppression of futures prices, but crude oil high volatility, Asian ethylene prices firm, spot prices recovery to form
support.

Technically, LLDPE closed a false white candlestick today, and the final close between the short-term moving average and the medium-term moving average showed that there was pressure in the short term and support below
.
The MACD low golden cross is up, and the KDJ indicator is slowing down at the upside angle, indicating that the short-term market still diverges
.
Operationally, investors can take a long position lightly when they fall back, with a stop loss of 9100 yuan
.