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Market situation: Liansu shock lower, L1909 opened at 7725 yuan / ton, the highest reported 7745 yuan / ton, the lowest reported 7630 yuan / ton, closed 7635 yuan / ton, -1.
04% from the previous trading day; Volume 396014 lots, -61556 lots; Position 477538 lots, -17110 lots, basis 15 yuan, +90 yuan, 9-1 spread 75 yuan, -40 yuan
.
News: In the first half of 2019, the profits of industrial enterprises above designated size fell by 2.
4% year-on-year, of which 3.
3% in the first quarter and 1.
9% in the second quarter, showing a narrowing decline
.
The oil, coal and other fuel processing industries fell by 53.
6%, and the chemical raw materials and chemical products manufacturing industry fell by 13.
8%.
The profit decline of chemical enterprises is much higher than the average, indicating that the domestic chemical industry is still sluggish
.
Spot market: domestic polyethylene market shock adjustment
.
In terms of enterprises, the opening price of the sales company at the end of the month was partially moved up, with a range of 50-100 yuan / ton
.
In terms of the market, the opening cost of merchants rose, and the offer was partially adjusted, but linear futures fell, the trading atmosphere in the spot market was weak, and the trading center of gravity was mixed
.
As of the noon close, North China adjusted 50-100 yuan / ton; East China is around 50 yuan / ton; Prices in South China are temporarily stable
.
Warehouse receipt inventory: exchange warehouse receipts reported 1661 lots, intraday -0 lots; In the historical median zone
.
Main positions: The top 20 long positions in the main contract are 137702 lots, -787 lots, short positions are 182573 lots, -11298 lots, and net long positions are -44871 lots, +10511 lots
.
Summary: Polyolefin port inventories have fallen, and PE social inventories are at a historical level, which supports
prices.
However, the operating rate of downstream enterprises fell sharply year-on-year, manufacturers had limited enthusiasm for procurement, low willingness to stock up, and slow follow-up of actual transactions
.
Traders mainly let profits take goods, and the continued low operating rate of downstream enterprises has also put a certain pressure
on prices.
The market focuses on the pressure of
the upper moving average.
Operationally, it is recommended that investors wait and see for the time being
.
