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On Tuesday, the Liansu L2005 contract rebounded, and the futures price closed at 6185 yuan / ton, -85 yuan from the previous trading day; Volume 310925 lots, +113123 lots; Position 168342 lots, -16822 lots, basis 215 yuan, +85 yuan; 5-9 spreads -80 yuan, -10 yuan
.
News: Shenhua Coal Chemical linear intraday bidding volume of 1100 tons, trading volume of 456 tons, transaction rate of 41.
45%; The high-pressure auction was 286 tons, the transaction volume was 129 tons, and the transaction rate was 45.
1%; The low-pressure auction was 400 tons, and 55 tons were transacted, with a transaction rate of 13.
75%.
From January to February 2020, the domestic output of plastic products was 7.
884 million tons, a decrease of 1.
686 million tons, or 17.
62%,
compared with the same period last year.
Spot market: The domestic polyethylene market continued to decline
.
The opening price of the main regional sales company continued to decrease, linear futures fell, merchants were pessimistic, some transactions continued to be inverted, downstream on-demand procurement, and real orders were long, medium and small orders
.
As of the midday close, the North China market fell 50-120 yuan / ton; East China fell 50-200 yuan / ton; South China fell around 50 yuan / ton
.
Warehouse receipt inventory: exchange warehouse receipt reported 592 lots, intraday - 50 lots
.
Main position: The top 20 long positions in the main contract are 103564 lots, -12521 lots, short positions are 118911 lots, -12594 lots, and the net position is -15347 lots, with a decrease
in net shorting.
The accelerated spread of the overseas epidemic has caused market panic, and the absolute value of domestic two barrels of oil and petrochemical inventories is still high, indicating that downstream demand has not fully recovered, crude oil is running weakly, and although the volume of Shenhua's online auction has increased, it is still in the historical low area, which has suppressed
the price of polyethylene to a certain extent.
However, the Fed's opening of the unlimited QE mode has boosted market confidence to a certain extent, and it is not ruled out that there will be follow-up stimulus policies in the United States that also give the market hope, and the market will focus on whether crude oil can stop falling and rebound
.
In terms of operation, it is recommended that investors close short orders in their hands to close the dip, and pay attention to the long opportunities
of the 2009 contract in the future.
