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    Home > Chemicals Industry > New Chemical Materials > Continuous plastic futures price shock rebound The fundamentals are still not satisfactory

    Continuous plastic futures price shock rebound The fundamentals are still not satisfactory

    • Last Update: 2022-12-21
    • Source: Internet
    • Author: User
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    On Thursday, the L2109 contract contracted and reduced its position, and the futures price rebounded, closing at 8235 on the day, +135 yuan from the previous trading day; The volume was 386648 lots, the position was reported 346496 lots, -5193, and the basis was 135 yuan
    .

    Continuous plastic

    News: 1.
    As of April 30, 2021, the total inventory of polyene samples in major domestic ports was 390,200 tons, down from last week's inventory and up 115,800 tons
    from last year.
    2.
    Longzhong Information reported on May 6: The two oil stocks were 865,000 tons, an increase of 175,000 tons
    over the pre-holiday period.

    Market quotation: North China Daqing Petrochemical 7042 mainstream price is 8300 yuan / ton, +100 yuan
    .

    Warehouse receipt inventory: 3336 warehouse receipts, +0 receipts
    .
    Main positions: Top 20 long positions 221439, +6632, short positions reported 249543, -265
    .
    Reduced
    headroom.

    Summary: During the long holiday, international crude oil continued to fluctuate higher
    .
    Domestic polyolefin fundamentals are relatively calm
    .
    Ningbo Huatai Shengfu's 400,000-ton full-density plant was started on April 30, with pre-sale before the festival relatively fast, upstream enterprises operating at 85.
    63%, and polyethylene production in the week after the holiday is expected to be 419,500 tons, an increase of 4.
    48%
    week-on-week.
    The estimated supply during the festival is around
    4,500 tons.
    Downstream demand: shed film demand off-season, raw material demand decreased, enterprises mainly reduced inventory
    .
    The overall operation of small and medium-sized hollow products enterprises has slowed down, and the inventory of some enterprises is high, and the price has decreased
    .
    Orders for packaging products have decreased, the demand for raw material polyethylene has decreased, and the overall post-holiday replenishment is not expected to be strong
    .
    As of May 5, the stocks of two barrels of oil polyolefin were reported at 865,000 tons (estimated data for the two oils), and the holiday accumulation was 175,000 tons
    .
    This figure is not high
    .
    Show that there is not much
    pressure on the supplier.
    Affected by the rise of crude oil during the long holiday, Lianplastic rebounded, but its fundamentals were still unsatisfactory
    .
    In terms of operation, it is recommended that investors can reduce their holdings when they rush high, and drop their pockets for safety
    .

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