Investors should wait and see

News: PE imports in January 2018 were about
1.
2895 million tons.
Among them, LLDPE imports were 361,900 tons, and the average import price in the month was 1,200 US dollars / ton; The import volume of HDPE was 667,500 tons, and the average import price in the month was 1285.
65 US dollars / ton; LDPE imports were 260,100 tons, and the average import price in the month was 1223.
91 US dollars / ton
.

Raw material prices: Naphtha CF Japan reported 575.
5 tons, up 0.
39%; FOB Singapore was trading at $62.
56 a barrel, up 0.
45%.

ethylene CFR Northeast Asia 1230, flat; CFR Southeast Asia was flat at $1180/mt
.

Spot price: Far East reported 1210 yuan / ton, flat, the Middle East reported 1184 yuan / ton, flat
.
The price in the domestic market was stable, and Tianjin Daqing reported 9500 yuan / ton, flat; East China Yuyao Jilin Petrochemical 9550 tons, flat; South China Guangzhou Maoming reported 9500 yuan / ton, flat; Northwest Dushanzi reported 9550 yuan / ton, unchanged
.

Today, the LL1805 contract is in a narrow range between the annual line and the 5-day moving average throughout the day
.
Volume shrank sharply and positions decreased
slightly.

Fundamentally, petrochemical inventories are high, and downstream demand has not fully recovered, which has suppressed futures prices to a certain extent
.
However, petrochemical companies have a strong willingness to raise prices, and stable spot prices support prices
.

Technically, the LLDPE1805 contract has pressure and support
below.
Although the KDJ and MACD indicators show signs of stopping the decline, the trading volume and position volume do not cooperate, and it is expected to maintain a weak shock pattern
in the short term.
Investors are advised to wait and see
.