On February 6, the Guangzhou Branch (South China) quoted LLDPE 7042 at 6,900 yuan/ton, down by 100 yuan/ton. PriceSeek's analysis of LLDPE indicates a bearish score of -1. The article shows that on February 6, the spot price of LLDPE 7042 in South China fell by 100 yuan/ton to 6,900 yuan/ton, a decline of approximately 1.45%, indicating ample market supply or weak demand, which generally exerts bearish pressure on spot prices. Combined with recent polyethylene futures data, the main contract, such as 2605 (Dalian Commodity Exchange), closed at 6,777 yuan/ton on February 5, down by 79 yuan/ton, with open interest decreasing by 6,547 lots, reflecting prevailing bearish sentiment in the market. The decline in spot prices may further drag down futures prices, and it is expected that short-term futures contracts will face downward pressure. It is advisable to monitor changes in supply and demand as well as inventory data.
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