Liansu opened high and went low, and the trading volume shrank sharply

News side: The domestic polyethylene market partially fell
.
In terms of ex-factory, the high pressure and low pressure parts of the main regional chemical sales companies were reduced, with a range of 100-400 yuan / ton
.
In terms of the market, linear futures opened high and fluctuated, spot merchants mainly waited and watched, and some took a bearish attitude towards the future market, and underreported upside down to find transactions
.
As of the midday close, the North China market fell by 20-300 yuan / ton; East China market fell 100-250 yuan / ton; The low-pressure part of the South China market fell by 50-100 yuan / ton
.

Raw material price: naphtha CF Japan reported 504.
12 US dollars / ton, -6.
36%; FOB Singapore is trading at $53.
97/b, -6.
51%.

ethylene CFR Northeast Asia 1050 US dollars / ton, +0%; CFR Southeast Asia is trading at $960/mt, +0%.

Spot price: Southeast Asia reported $1050, -3.
67%; Far East reported 1030 yuan / ton, -0%.

Domestic price: North China Daqing reported 9250 yuan, -0.
54%; East China Yuyao reported 9250 yuan, -1.
07%; South China Guangzhou 9400 yuan, -0%; Northwest Dushanzi 9450 yuan, -0.
53%.

The Liansu 1905 contract opened high and went low, the trading volume shrank sharply, and the position increased
significantly.
Fundamentally, the continued sharp decline in crude oil has led to lower naphtha prices, which has suppressed
the price of LLDPE.

There is also differentiation on technical indicators, MACD low golden cross, but weak, KDJ indicator at the median turn downward, indicating the current LLDPE pressure, lower support pattern
.
The L1905 contract is expected to maintain a volatile bottom
.
Operationally, it is advisable
for investors to wait and see for the time being.