Continuous plastic contracts shrink and reduce positions, and the futures price fluctuates to the upside

News: 1.
In May 2021, China imported a total of 1,125,900 tons of PE, a decrease of 111,800 tons, an increase of -9.
03%, and a decrease of 520,500 tons, an increase of -31.
61%,
from the same period last year.
From January to May 2021, China imported a total of 6.
5819 million tons of PE, an increase of 286,200 tons over the same period last year, an increase of -4.
17%.

2.
In May 2021, domestic PE exports were 77,500 tons, +4,600 tons, an increase of 6.
31%, and 45,321.
48 tons, an increase of 140.
84%.

From January to May 2021, a total of 23.
81 tons of PE were exported domestically, an increase of 110.
84%
over the same period last year of 125,200 tons.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 8000 yuan / ton, +100 yuan
.

Warehouse receipt inventory: 5500 warehouse receipts, -130 sheets
.
Main positions: Top 20 long positions 190396, -5818; short positions reported 220168, -11330
.
Reduced headroom

Summary: The average operating rate of polyethylene enterprises increased last week, and polyethylene production increased
.
Inventories of production companies have rebounded for four consecutive weeks, indicating that the market is well supplied
.
However, the operating rate of various downstream industries of PE continued to increase compared with the previous week, especially the operating rate of the agricultural film and pipe industry
.
In addition, the strong trend of crude oil also supported the price of Liansu
.
The L2109 contract fluctuated to the upside during the day, and it is expected to hit the pressure level
of 8100 in the later period.