Futures fluctuate in a narrow range PE market just demand

Upstream: International oil prices showed a volatile downward trend this week
.
Although the effect of the United States in restricting Iranian exports has gradually appeared, it has stimulated oil prices to rise
.
However, OPEC and U.
S.
crude oil production growth dampened oil price gains, and offshore crude oil production was affected
by weather.
It is expected that the international oil market will be volatile next week
.
On Monday (September 3) American Labor Day, the New York Mercantile Exchange is closed, WTI crude oil October futures are trading in the electronic trading system range of 69.
89-70.
21 US dollars; Brent crude oil November futures settlement price is 78.
15 US dollars per barrel, trading range 77.
30-78.
44 US dollars
.
Intercontinental Exchange diesel September futures are $
697 a tonne.
On Friday (September 7), the October 2018 futures of West Texas Light Oil on the New York Mercantile Exchange settled at $67.
75 per barrel, trading in a range of $66.
86-68.
08, and the November 2018 Brent crude oil futures on the Intercontinental Exchange in London settled at $76.
83 per barrel, trading in a range of $75.
88-$76.
99
.

Manufacturer dynamics: the total inventory of mainstream petrochemical regions increased year-on-year, due to the downward trend of futures price shocks, the trend of weakening support for PE, so that the factory price of some products has been reduced, while traders are generally active in trading, the downstream wait-and-see mentality is obvious, and the replenishment is more cautious
.
At the same time, the number of domestic petrochemical plant overhauls continued to decrease this week, and imports are expected to be at a high level
.
Traders' inventories have decreased
.
Inventories are expected to maintain a volatile upward trend
next week.

Futures trend: On Friday, September 7, the main contract of polyethylene futures L1901 opened at 9340, the highest price was 9410, the lowest price was 9310, the closing price was 9340, the previous settlement price was 9320, the settlement price was 9350, up 20, or 0.
21%, the volume was 318134, the position was 472816, and the daily increase was 10116
.
(Quotation: yuan/ton)

This week's futures L1901 shock weak trend, to the market support is weak, some petrochemical have lowered the factory price, so that most businesses lack confidence to accompany the profit, but although the weekend temporarily stopped the decline, but the market enthusiasm is still not high, raw material prices intraday sorting
.
At the same time, the downstream demand is in a wait-and-see state, the transaction is cold, the purchase is just needed, and the transaction volume is not high
.
Next week is expected to be dominated by volatile consolidation
.

Downstream: The factory operating rate has increased this week, the agricultural film and pipe industry has increased compared with the previous period, demand has followed up, and other industries have started steadily
.
At the same time, affected by domestic environmental protection policies, the overall start of construction is lower
than in previous years.
At present
, the transaction is still dominated by rigid demand.
It is expected that the situation will remain weak and upward next
week.

Looking forward to the future market, the inventory of manufacturers and enterprises will continue to fluctuate and increase next week, mainly because merchants have insufficient confidence in the future market, and they have followed the decline in shipments
.
Traders wait and see to cover positions
.
Maintenance equipment has been reduced, and imports are expected to be at a high level
.
The operating rate of downstream enterprises has rebounded, and the market spot circulation atmosphere is general
.
On the whole, futures volatility is weak, and the trend is dominant
.
Downstream trading sentiment remains subdued
.
It is expected that next week's market trend will be dominated by a narrow range of volatility and consolidation, and some products may loosen slightly, but it is still necessary to maintain a cautious attitude
.