Continuous plastic narrow finishing The short-term trend is still repeated

News: Shenhua coal chemical industry Shenhua Baotou linear intraday bidding volume of 881 tons, previous day's bidding volume of 931 tons, intraday trading volume of 466 tons, last day's trading volume of 400 tons
.
Shenhua low-pressure intraday bidding volume was 800 tons, the previous day's auction volume was 550 tons, the intraday trading volume was 336 tons, and the previous day's trading volume was 335 tons
.
Yulin High Pressure intraday bidding volume is 46 tons, the previous day's auction volume is 0 tons, the previous day's trading volume is 0 tons, and the previous day's trading volume is 0 tons
.
Xinjiang high-pressure intraday bidding volume is 50 tons, the previous day's bidding volume is 50 tons, the intraday trading volume is 10 tons, and the previous day's trading volume is 50 tons

The PE inventory of domestic polyethylene enterprises (oil + coal) in this cycle fell by 5.
1%
from last week.
In terms of varieties, LDPE inventory rose by 12.
12%; HDPE inventory fell by 9.
77%; LLDPE inventories fell 9.
18%.

Among them, the total inventory of PE in two barrels of oil fell by 4.
13%.

Sinopec PE inventories rose 3.
21%; CNPC PE inventories fell 7.
82%.

PE inventories of coal-based enterprises fell by 7.
49%.

Domestic sample trader PE inventories rose 4.
9%.

Spot market: The domestic polyethylene market is mixed
.
The opening price of the main regional sales company was partially reduced by 100 yuan / ton, the merchant's offer was adjusted with it, the downstream wait-and-see was the mainstay, 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 by 50-100 yuan / ton, and the South China market fell by 50-200 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 250746 lots, -3574 lots, short positions are 284079 lots, -6740 lots, net positions are -33333 lots, and the 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.
In the industrial chain, after entering May, the number of overhauled devices has increased, which is expected to form a certain support
for Liansu.
However, linear downstream demand has weakened, agricultural film demand has basically ended, shed mold demand has not yet begun, packaging film demand is basically stable, indicating that downstream demand recovery is still insufficient, and the recent sluggish spot transaction shows that the downstream willingness to take goods is not strong, and it is expected that the short-term trend is still repeated
.
Operationally, it is recommended that investors wait and see for the time being
.