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Liansu 1905 contract opened at 8275 yuan, the highest 8315 yuan, the lowest 8245 yuan, closed at 8270 yuan, up 25 yuan, or 0.
30%, the volume was 138116, and the position increased by 5256 lots, reported 382716 lots
.
News: Statistics show that in October 2018, domestic PE production was about 1.
417 million tons, an increase of 80,400 tons, an increase of 6.
02%, and a year-on-year increase of 456,000 tons, an increase of 47.
45%.
From January to October 2018, the total output of PE was 12.
528 million tons, an increase of 946,600 tons year-on-year, an increase of 8.
17%.
It can be seen from the above data that with the gradual resumption of work of the pre-maintenance equipment, the output of polyethylene in October increased significantly year-on-year, and was much higher than the same period
last year.
Production is expected to continue to rise after entering December, due to
the further reduction of equipment shutdowns.
Raw material price: naphtha CF Japan reported 487 US dollars / ton, +1.
04%; FOB Singapore is trading at $52.
19/b, +1.
08%.
ethylene CFR Northeast Asia 1010 US dollars / ton, -0%; CFR Southeast Asia is trading at $920/mt, -0%.
Spot price: Southeast Asia quoted $1020, -2.
86%; Far East reported $980/mt, -1.
01%.
Domestic price: North China Daqing reported 9200 yuan, +1.
10%; East China Yuyao reported 9150 yuan, -0%; South China Guangzhou 9300 yuan, -0%; Northwest Dushanzi 9400 yuan, -0%.
The Liansu 1905 contract was sorted out in a narrow range, with a significant contraction in trading volume and an increase
in position.
Fundamentally, naphta and domestic spot prices stopped falling and rebounded to produce certain support for plastics; However, Asian spot fell sharply, and sluggish downstream demand suppressed
futures prices.
Technically, the MACD low level flattened, the green bar became shorter, and the KDJ indicator hovered at the low level, and there were signs of a low golden cross, indicating that there was a certain rebound requirement
in the short term.
After the market pays attention to the pressure of the 8450 line, operationally, investors can reduce their holdings at this position, and those who are short positions will wait and see
for the time being.
