Continuous plastic volatility rises, and there is still support in the face of basic prices

News: Lianyungang Petrochemical Co.
, Ltd.
officially started construction
with an annual output of 1.
35 million tons of PE, 2.
19 million tons of EOE and 260,000 tons of CAN combined plant.
After the project is completed and put into operation, it will be a world-class petrochemical industrial base
with an annual output of 1.
35 million tons of polyethylene, 2.
19 million tons of ethylene oxide and ethylene glycol and 260,000 tons of acrylonitrile.

As of July 3, 2020, the total inventory of polyolefin samples in major domestic ports reported 275,400 tons, an increase of 5,000 from last week, and still a decrease of 156,900 tons
from last year.

Shenhua coal chemical industry Shenhua Baotou linear intraday bidding volume of 750 tons, yesterday's bidding volume of 650 tons, intraday trading volume of 749 tons, yesterday trading volume of 638 tons
.
Shenhua low-pressure intraday bidding volume 100 tons, yesterday's bidding volume 100 tons, intraday trading volume 100 tons, yesterday's trading volume 0 tons
.
Yulin High Pressure intraday bidding volume was 140.
175 tons, intraday trading volume was 131.
175 tons
.

Spot market: The domestic polyethylene market has risen in price
.
The sales billing part of the main region was raised by 100-250 yuan / ton, the factory price was raised, the market quotation followed, the market price was at a high level, the merchant mentality was more cautious, wait-and-see was the mainstay, and the real transaction was general
.
As of the midday close, North China rose 50-250 yuan / ton, East China rose 100-200 yuan / ton, and South China rose 100-250 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipt reported 490 lots, intraday +59 lots
.
Main position: The top 20 long positions in the main contract are 248285 lots, +17703 lots, short positions are 240682 lots, +9532 lots, net positions are 7603 lots, net short to net long
.

Summary: Recently, crude oil has maintained a high volatility pattern, but the epidemic in the United States seems to have been repeated
.
Fundamentally, the recent domestic PE device maintenance volume has still increased, and the apparent consumption of PE and downstream pipe production in May have increased, indicating that the downstream rigid demand is better, port inventory is still lower than the same period last year, and manufacturers have raised product quotations, which is expected to provide some support
to prices.
Operationally, investors can set a take profit in their hands and hold
them cautiously.