Even plastic futures prices fluctuated lower, and fundamentals were intertwined

News: 1.
Longzhong Information reported on January 20: Shenhua coal chemical industry Shenhua Baotou line type auction volume today 735 tons, yesterday's bidding volume 897 tons, today's trading volume of 630 tons, yesterday's trading volume of 40 tons
.
Shenhua Low Pressure bid 100 tons today, 50 tons yesterday, 8 tons today, and 50 tons
yesterday.
Yulin High Pressure bid 51 tons today, 51 yesterday's auction volume 0 tons today, 0 tons yesterday.

2.
As of the week of January 18, the operating rate of plastic downstream products enterprises was about 52.
5%, +5.
53%
week-on-week.
At present, the overall order days are around
15-30 days.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 7900 yuan / ton, +0 yuan
.

Warehouse receipt inventory: 1121 warehouse receipts, +0 sheets
.
Main positions: Top 20 long positions 151256, -5015; short positions reported 181042, -7270
.
Reduced
headroom.

Summary: In January, PE maintenance equipment began to resume work, the weekly average operating rate of polyethylene rebounded, and the overall market supply began to recover
.
However, the Spring Festival holiday is approaching, this week and next week may have many companies need to prepare materials, and the petrochemical inventory of the two barrels of oil continues to fall slightly, while the downstream product operating rate has rebounded last week, indicating that the downstream rigid demand for PE is still there
.
At present, the fundamentals are long and short intertwined, and it is expected to maintain a range-bound pattern in the short term, and operationally, it is recommended that investors can set a take profit in their hands and hold
them cautiously.