Continuous plastic narrow finishing The decline in inventory has some support for prices

News: As of May 15, 2020, the total sample inventory of major domestic polyolefin ports was 265,400 tons, down 03,000 tons from last week and 167,000 tons
from last year.

Shenhua Coal Chemical Industry Shenhua Baotou linear intraday auction volume was 675 tons, the previous day's auction volume was 615 tons, the intraday trading volume was 560 tons, and the previous day's trading volume was 456 tons
.
The low-pressure intraday auction volume was 721 tons, the previous day's auction volume was 800 tons, the intraday trading volume was 436 tons, and the previous day's trading volume was 483 tons
.
Yulin High Pressure intraday auction volume was 46 tons, the previous day's auction volume was 33 tons within 46 days, and the previous day's trading volume was 0 tons
.
Xinjiang high-pressure intraday bidding volume is 50 tons, the previous day's bidding volume is 50 tons, and the intraday trading volume is 50 tons
.

Spot market: The domestic polyethylene market is mainly
rising.
The sales opening price of the main region was partially adjusted by 50-200 yuan / ton, the linear futures fluctuated slightly, traders adjusted the offer with the market, some high-priced resources were blocked, and the real transaction was general
.
As of the noon close, the North China market adjusted 50-100 yuan / ton; The East China market adjusted 50-150 yuan / ton, and the South China market rose 50-100 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 343 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 250328 lots, -6123 lots, short positions are 280661 lots, -8390 lots, net positions are -30333 lots, net space is reduced
.

Summary: The overseas epidemic seems to be showing signs of easing, and the expectation of deregulation of traffic restrictions in many countries has revived expectations of demand recovery, and the voluntary reduction of production by major oil-producing countries has also supported
the market 。 On the industrial chain, linear downstream demand has weakened, agricultural film demand is basically over, shed mold demand has not yet begun, packaging film demand is basically stable, showing that downstream demand recovery is still insufficient, and the current import profit is still at a high level, it is expected that the import source will be concentrated in May to the port, these factors will suppress the price, but LNG prices, crude oil, ethylene prices have rebounded significantly, improving the linear cost support, and after entering May, the maintenance of the equipment has increased, the operating rate of PE production enterprises has declined, and the output has decreased.
This has led to a slight decline in social inventory, and some factors will form some support
for Liansu.
Operationally, investors can hold long positions with caution
.