Increased market supply Continuous plastic futures price rebound was blocked

News: 1.
As of the week of May 21, China's polyethylene production totaled 425,900 tons, an increase of 5.
73%
over the previous week.
This week, affected by the reduction in plant maintenance, polyethylene production is expected to increase by about
3.
07% compared with last week's weekly output.
2.
As of the week of May 21, 2021, the total inventory of polyolefin samples in major domestic ports was 379,300 tons, an increase from the previous week's inventory and an increase of 111,800 tons
from last year.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 7950 yuan / ton, +50 yuan
.
Warehouse receipt inventory: 7259 warehouse receipts, -0 sheets
.

Main positions: Top 20 long positions 206170, +3727; short positions reported 245547, +5195
.
Increased
headroom.

Summary: The average operating rate of polyethylene enterprises fell back last week, PE production increased, and market supply increased
.
This week, the operating rate of PE downstream industries has generally decreased
from the previous week.
Among them, the decline of hollow enterprises is particularly obvious, while the operating rate of film enterprises has rebounded
slightly.
The inventory of production enterprises continued to decrease, and the inventory of East China also fell slightly, indicating that the pressure on the supply side is not large
.
In addition, the National Council twice talked about the commodity price issue triggered the market's expectations for price control, and it is expected to suppress the upside of the line, and the intraday L2109 contract rebound is blocked, indicating that there is still some pressure
above.
In terms of operation, it is recommended that investors set a take profit for short orders in their hands and hold
them cautiously.