The center of gravity of the LLDPE main contract shifted downward, and the price weakened from the beginning of the week

News: According to Longzhong Information's data statistics on October 16, the total inventory of two barrels of oil PE in this cycle has declined, down 15.
70%
from last week.
Among them, Sinopec's PE inventory fell 9.
91% from last week; CNPC PE inventories fell 18.
38%
from last week.
Sample trader PE inventories rose 8.
41%
week-on-week.

Upstream raw materials market: The price of naphtha in Japan continued to decline at $517.
88/ton, -22.
25
.
Ethylene Asian market Northeast Asia quotation is 790 US dollars / ton, 0; Southeast Asia is 740 US dollars / ton, 0
.

Spot market: LLDPE spot market trading is light, and merchants reduce unit prices
.
North China market will be 20-130 yuan / ton, the mainstream price is 7370 yuan / ton, -130; East China market will drop 50-150 yuan / ton, the mainstream price is 7500 yuan / ton, -130; some merchants in the South China market will reduce 50 yuan / ton, the mainstream price is 7750 yuan / ton, -50
.

Warehouse receipt inventory: exchange warehouse receipts reported 1921 lots, intraday - 115 lots; It is in the low-to-middle historical zone
.

Main position: The top 20 long positions in the main contract are 210103 lots, +8855 lots, short positions are 211457 lots, +8382 lots, net positions are -1354 lots, and the net space is reduced
.

Summary: Petrochemical inventories continued to decline this week, but traders shipped poorly and inventories rose
.
The trading atmosphere in the spot market was weak during the day, and merchants reduced prices and actively took goods
.
However, the willingness to receive goods downstream is general, maintaining just need to purchase, and the real market is light
.
Supply and demand are short, which suppresses
prices.
L2001 main contract price center of gravity moved down sharply after a narrow range of shock, MACD green column elongation, futures price is expected to continue to weaken, pay attention to the pressure around 7400 above, support around 7200 below, it is recommended that short orders in hand can be held
cautiously.