Continuous plastic narrow finishing Pay attention to the pressure of the upper moving average

News: In June 2019, the number of domestic PE imports and exports fell sharply month-on-month, and the year-on-year fluctuations were mixed
.
Statistics show that domestic PE imports in June 2019 were 1.
251 million tons, a decrease of 168,100 tons, or 11.
85%.

Year-on-year, it increased by 126,000 tons, or 11.
2%.

Spot market: domestic polyethylene market price adjustment
.
In terms of enterprises, the opening price of sales companies is mostly stable
.
In terms of the market, linear futures fluctuated slightly, but the recent arrival of imported resources is expected to be more, coupled with the slow start of downstream construction, the lack of support from the supply and demand fundamentals of the spot market, and the transaction is still weak
.
As of the noon close, the volatility in North China was 50-100 yuan / ton; The volatility in East China and South China is about 50 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 1661 lots, intraday -0 lots; In the historical median zone
.
Main positions: the top 20 long positions in the main contract are 148045 lots, -6860 lots, short positions are 202249 lots, -2346 lots, and net long positions are -54204 lots, -4514 lots
.

Summary: Downstream manufacturers have limited enthusiasm for purchasing, low willingness to stock up, and slow follow-up of actual transactions
.
Traders mainly let profits take goods, and the operating rate of downstream enterprises continues to be low, and the rise in inventory has also put a certain pressure
on prices.
However, after a continuous decline, there are signs of overselling in the short term, and the market will pay attention to the pressure
of the upper moving average.
In terms of operation, it is recommended that investors can reduce their holdings at low prices and drop their pockets
.