20260209申万期货品种策略日报-聚烯烃（LL&PP）-20260209

Group 1 - The report is about the futures of polyolefins (LL&PP), including their performance in the futures and spot markets, raw material information, and market comments and strategies [1][2] Group 2 - Futures market: For LL, the previous day's closing prices for January, May, and September contracts were 6866, 6812, and 6864 respectively, with price increases of 16, 35, and 36 and percentage increases of 0.23%, 0.52%, and 0.53%. For PP, the previous day's closing prices for January, May, and September contracts were 6686, 6691, and 6723 respectively, with price increases of 25, 15, and 13 and percentage increases of 0.38%, 0.22%, and 0.19%. The trading volumes and open - interest changes are also provided [2] Group 3 - Spot market: Raw materials include methanol futures, Shandong propylene, South China propane, etc., and their current and previous values are given. For the mid - stream, the price ranges in different markets (East China, North China, South China) of LL and PP are provided, and the comparison between current and previous values shows some price changes [2] Group 4 - Market news: On Friday (February 6th), the settlement price of WTI crude oil futures for March 2026 on the New York Mercantile Exchange was $63.55 per barrel, up $0.26 or 0.41% from the previous trading day. The settlement price of Brent crude oil futures for April 2026 on the London Intercontinental Exchange was $68.05 per barrel, up $0.50 or 0.74% from the previous trading day [2] Group 5 - Market comments and strategies: Polyolefin futures closed up at a low level. The prices of linear LL and拉丝PP from Sinopec and PetroChina remained stable. Fundamentally, the market focuses on the expectation of supply improvement, and the impact of the macro - economy on commodities is increasing. Currently, the driving force of polyolefin spot is relatively limited, and the market pays more attention to the driving rhythm of macro factors [2]