Even plastic volume reduction position, futures price shock fall

News: 1.
Yantai Wanhua's 450,000-ton linear unit is started, and the 350,000-ton low-voltage unit is scheduled to start up in October, and the supply of PE is expected to increase
in October.
2.
The operating rate of domestic polyethylene (PE) pipe enterprises increased by 1% in September 2020 compared with August, and decreased by 11%
from the same period last year.
3.
Longzhong Information reported on September 30: the inventory of the two oils was 625,000 tons, an increase of 10,000 tons
over the previous day.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 7350 yuan / ton, +0 yuan
.
Warehouse receipt inventory: 1446 warehouse receipts, -0 sheets
.

Main positions: Top 20 long positions 162558, +895, short positions 166813, +1575
.
Increased
headroom.

Summary: The operating rate of downstream agricultural film enterprises has rebounded, and the recent polyolefin inventory in major domestic ports has remained in the historical low area, indicating that the short-term supply pressure is not large
.
However, after entering the end of September, PE has a new device production plan, and the later maintenance of the equipment gradually decreased, it is expected that the market supply will increase significantly in the later stage, in addition, the trend of crude oil weakened, but also to a certain extent to the price of plastics to a certain extent
.
In terms of operation, it is recommended that investors take profit cautiously and hold
short orders in their hands.