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Market situation: Tuesday continuous plastic narrow finishing, L2001 main contract narrow finishing, the futures price closed at 7080 yuan / ton, -10 yuan from the previous trading day; Volume 317722 lots, -21018 lots; Position 548160 lots, -17148 lots, basis 90 yuan, -20 yuan; 1-5 spread 40 yuan, +5 yuan
.
News: Last week, the raw material inventory of plastic knitting enterprises above designated size was about 10-15 days, and the average level of small enterprises was 6-10 days
.
Among them, the average use cycle of raw materials in North China was 10.
3 days, down 6.
4% from last week; The average use cycle of raw materials in East China was 11.
2 days, down 5.
1% from last week; The average service life of raw materials in Central China was 10.
5 days, down 4.
5%
from last week.
Spot market: the domestic polyethylene market fluctuates narrowly, the main regional sales company high pressure, low pressure part of the price reduction, linear part of the increase, the range of 50-100 yuan / ton
.
Linear futures fluctuated in a narrow range, affected by Iran, the price of some imported resources rose, domestic resources maintained a narrow sorting trend, and downstream took goods
on demand.
As of noon, the price in the North China market fluctuated by 50 yuan / ton; East China market volatility of 100 yuan / ton; The South China market is temporarily stable
.
Warehouse receipt inventory: exchange warehouse receipt reported 1161 lots, intraday +0 lots; It is in the low-to-middle historical zone
.
Main position: the top 20 long positions in the main contract are 160336 lots, -7417 lots, short positions are 186464 lots, -3733 lots, net positions are -26128 lots, net space increased
.
Summary: China and the United States are expected to cancel tariffs in phases, and after entering late October, the demand for plastic home film is expected to gradually recover, the operating rate of agricultural film enterprises has rebounded, and PE inventories are still in the low area, indicating that the market supply pressure is not large, which has some support for LLDPE, however, the International Monetary Fund lowered the global economic growth rate in 2019 to 3%, the growth rate was the lowest in 10 years, which hit market confidence, and the second round of environmental protection inspections opened, downstream enterprises were cautious in purchasing, These factors are expected to suppress
LLDPE.
In terms of operation, it is recommended that investors reduce their holdings in the hands of short orders and put them in their pockets
.
