Liansu rebounded slightly and trading volume continued to shrink

News side: Longzhong Information reported on February 22: CNPC East China LLDPE price report: Jilin / Daqing / Dushanzi / Sichuan 7042 fixed 9650, 7042N fixed 9650, Lanhua 7042H fixed 9700, 7042N fixed 9650, Fushun 7042 fixed 9650, Daqing DNDA8320 fixed 9850
.
(:RMB/ton)

Raw material prices: CF Japan reported 550.
75 tons, down 1.
19%; FOB Singapore was trading at $59.
79 a barrel, down 1.
52 percent
.
The ethylene market remained stable, CFR Northeast Asia 1290, flat; CFR Southeast Asia was flat at $1200/mt
.

Spot price: Far East reported 1200 yuan / ton, flat, the Middle East reported 1174 yuan / ton, flat
.
Domestic market prices fell slightly, Tianjin Daqing reported 9500 yuan / ton, flat; East China Yuyao Jilin Petrochemical 9650 tons, flat; South China Guangzhou Maoming reported 9650 yuan / ton, down 50 yuan; Northwest Dushanzi reported 9800 yuan / ton, unchanged
.

On the first day after the holiday, affected by the rebound during the crude oil holiday, LLDPE opened higher in the morning today, but then encountered the resistance of the bears, and the futures price rushed back down
.

Technically, the LLDPE1805 contract rebounded slightly, but volume continued to shrink, indicating that investors were not interested in trading
.
KDJ and MACD indicators have signs of stopping the decline, and it is expected that as the holiday atmosphere gradually fades, plastics should have rebound demand, but the magnitude of the rebound should not be too optimistic
.

Operationally, short-term investors can go long on the dip and stop loss 9,500 yuan, and medium-term investors still need to wait and see
.