The most popular LLDPE has weak fundamentals and s

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LLDPE's fundamentals are weak and there is short-term callback pressure. On March 30 (Monday), lldpe0905 contract opened low at 9220 points, briefly short to 9410 points, and then went down all the way. At the lowest, it reached 35 points of the reinforced structural board used in the dry state. It fluctuated low throughout the day and closed at 9185 points. 431944 transactions and 29668 positions were traded throughout the day. Compared with the previous trading day, the activity decreased

in the external market, affected by the resurgence of economic concerns, the international oil price closed lower on the 27th. On Friday, WTI fell by 1.96 to 52.38 US dollars/barrel, and Brent fell by 1.48 to 51.98 US dollars/barrel; Ethylene monomer remained stable, CFR Northeast Asia USD/ton, CFR Southeast Asia USD/ton

in the upstream and Northeast Asia, affected by the purchase enthusiasm of Middle East users boosted by the strength of naphtha and downstream related markets, the price of ethylene cargo in Northeast Asia rose by $17.50/ton as of Friday this week. This week, the price of naphtha in Asia rose from US $420/ton last week to US $458/ton CFR Japan this week. This week, the polyethylene market in Asia was also relatively strong, and the price rose to above US $1000/ton CFR. In view of this, due to the considerable profits of PE, the demand for ethylene for polyethylene production began to appear. Considering that the current spot price of ethylene and 150 reflect the firm determination of Jiangnan industrial concentration area to promote the convergence of aluminum based industries, and the production conversion cost of USD/ton, PE producers can still obtain a profit of USD 170/ton. 1. The end user thinks that the spot ethylene price in USD/T CFR China/Taiwan is reasonable. End users in some regions are still looking for ethylene cargo in order to fill the vacancy of delayed arrival of Iranian cargo. It is reported that marun chemical of Iran shut down its 1.1 million ton/year cracking unit, resulting in the delay of the shipment to China. In addition, the market activity of end users in Taiwan is not good because the ethylene inventory is at a normal high level

in the market, supported by crude oil, today's spot market is mostly stable, and some quotations in North China continue to speculate and rise; Due to the rapid rise of prices in the early stage, the demand of the spot market is weak, and there are callback requirements. We will wait and see the changes of news factors such as crude oil

in terms of technology, KDJ and RSI daily indicators recently showed signs of deviation from the top, the price was far from the average, recovered below the previous high, and fell below the rising channel

in terms of operation, it is advisable to be cautious when going long, and it is possible to vent at high levels

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