The short-term callback of the hottest LLDPE futur

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LLDPE futures prices will continue to be long in the medium and long term after short-term correction.

I. market review

the chart shows the trend of LLDPE futures prices and NYMEX crude oil prices. (picture source: CSC futures)

crude oil was consolidated at a high level this month, and there was no obvious guidance for LLDPE futures price. In the first half of the month, stimulated by the peak demand season and weather factors, the LLDPE futures price gradually fluctuated higher, rising from 10450 yuan opened on the 2nd to more than 11500 yuan in the middle of the month. In the second half of the month, the transaction in the spot market was deadlocked at a high price, and the futures price fluctuated and consolidated at a high level. Near the end of the month, the outbreak of Dubai crisis triggered panic in the global market, and the futures price plummeted to 11015 yuan on the 27th

II. Market analysis

1. The figure of international crude oil

shows the trend of WTI crude oil. (picture source: CSC futures)

affected by the mixed economic data and fluctuating inventory data, international crude oil this month lacks obvious directional guidance to heat up and improve understanding and cross-linking, and has been sorting horizontally in the USD/barrel volatility range. At the end of the month, due to the outbreak of Dubai Crisis, crude oil once fell below $73 in the session. Under the condition that crude oil demand is still weak and crude oil inventory is still high, the future oil price trend is not optimistic

as of the end of the month, the U.S. crude oil inventory announced by the U.S. Department of energy information (EIA) for leather belt composites, plastic profiles, waterproof rolls, steel pipes, copper, profiles, tension spring steel, bearing steel, stainless steel (and other high hardness steel), castings, steel plates, steel strips, non-ferrous metal wires, etc. was 337.8 million barrels, a decrease of 2.1 million barrels over the end of last month. Gasoline inventory is 2 It is understood that 10.1 billion barrels, an increase of 1.5 million barrels over the end of last month. The distillate oil inventory was 166.9 million barrels, a decrease of 900000 barrels compared with the end of last month, which could not be separated from the mechanical property test machine. The capacity utilization rate of the refinery was 80.3%, down 1.5% from the end of last month

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