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On Thursday, the Liansu L2009 contract was sorted out in a narrow range, closing at 6890 yuan / ton, +0 yuan from the previous trading day; Volume 305120 lots, +126892; position 332353 lots, -22332 lots, basis 60 yuan, +0 yuan; 9-1 spread 85 yuan, -25 yuan
.
News: According to Longzhong understanding, the domestic output of PE pipe materials in June 2020 increased by 25.
45%
compared with May 2020.
From January to June 2020, the domestic output of PE pipe materials increased by 10% compared with the same period in 2019 and 32%
over the same period in 2018.
The operating rate of domestic pipe downstream factories decreased by 4%
in June 2020 compared with May 2020.
In May 2020, the apparent consumption of PE was 3.
2317 million tons, up 9.
6%
from the previous month.
Compared with 2,845,300 tons in the same period last year, it increased by 386,400 tons, or 13.
58%.
From January to May this year, China's apparent consumption of PE was 14.
8425 million tons, an increase of 842,600 tons, or 6.
02%.
Spot market: Most of the domestic polyethylene market prices are higher, and some have fallen
slightly.
The sales bills of the main regions were raised by 100-150 yuan / ton, and most of the market offers were higher, and the supply of high pressure in South China was small, and the market price increased more
.
As of the noon close, North China adjusted 50-100 yuan / ton, East China mostly rose 100-200 yuan / ton, South China rose 50-250 yuan / ton
Warehouse receipt inventory: exchange warehouse receipts reported 431 lots, +0 lots
within the day.
Main position: the top 20 long positions of the main contract are 225440 lots, -17569 lots, short positions are 225509 lots, -11421 lots, net positions are -69 lots, net long turn net short
.
Summary: Recently, crude oil has maintained a high volatility pattern, but the epidemic in the United States seems to have been repeated
.
Fundamentally, the significant increase in cracker production in Asia in June is expected to weigh on
ethylene prices.
However, the recent maintenance of domestic PE equipment has still increased, and the apparent consumption of PE and downstream pipe production have increased in May, indicating that the downstream rigid demand is better, which is expected to provide some support
to the price.
Operationally, investors can set a take profit in their hands and hold
them cautiously.
