Report Industry Investment Rating - The trend strength of LLDPE is rated as 1, indicating a "偏强" (relatively strong) outlook, with a range of [-2, 2] where -2 is most bearish and 2 is most bullish [3] Report's Core View - LLDPE is expected to be short - term strong and mid - term range - bound. The short - term strength is due to macro sentiment, improving demand, and relatively low inventory. The mid - term may see a range - bound situation considering factors like supply changes [1][2] Summary by Relevant Catalogs Fundamental Tracking - Futures Data: The L2601 contract had a closing price of 7232, a daily increase of 0.81%, trading volume of 264,026, and a decrease in open interest of 6135 [1] - Basis and Spread: The 01 contract basis was - 152 (previous day: - 89), and the 01 - 05 contract spread was - 20 (previous day: - 12) [1] - Spot Prices: In the North China region, the price was 7080 yuan/ton (unchanged); in the East China region, it was 7160 yuan/ton (up from 7140); in the South China region, it was 7300 yuan/ton (unchanged) [1] Spot News - LLDPE market prices had small fluctuations of 10 - 50 yuan/ton. Linear futures rose, but while coal - chemical enterprises raised prices, some prices of Sinopec and PetroChina were lowered. Downstream demand was slow, leading to cautious purchasing and poor sales, and no obvious increase in the spot market [1] Market Condition Analysis - Affected by macro sentiment, PE is short - term strong. Demand for PE is improving as the agricultural film industry starts seasonal stockpiling. In September, the maintenance volume is similar to August, and the maintenance of Zhenhai Refining & Chemical at the end of September may relieve the supply pressure of LLDPE in the East China region. Polyethylene social inventory is lower year - on - year, with a slight reduction this week and overall low pressure [2]
LLDPE:短期偏强,中期震荡行情
Guo Tai Jun An Qi Huo·2025-09-16 01:26