On January 29, Wanhua Chemical in Shandong reported that LLDPE 7042 in East China was priced at 7,100 yuan/ton, up by 50 yuan/ton, while LLDPE 7050 in East China was priced at 7,150 yuan/ton, also up by 50 yuan/ton. PriceSeek's analysis of LLDPE gave a long-short score of 1.5. The article indicates that spot prices for LLDPE 7042 and 7050 in East China both increased by 50 yuan/ton, reaching 7,100 yuan/ton and 7,150 yuan/ton, respectively, suggesting tight market supply or increased demand, which significantly supports spot prices. Combined with polyethylene futures data, the main contract 2605 closed at 6,967 yuan/ton, up by 73 yuan, with a trading volume of 559,235 lots and an increase in open interest by 10,434 lots. This reflects synchronized bullish sentiment in the futures market, with strong long positions, and suggests that prices are expected to continue rising in the short term. The score of +1.5 is attributed to the notable increases in both spot and futures prices, with the rise in open interest reinforcing the positive signal.
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