Lianplastic shock recovery It is appropriate to wait and see for the time being

News: The PE inventory of domestic polyethylene enterprises (oil + coal) fell in this cycle, with a week-on-week decrease of 4.
84%.

In terms of varieties, LDPE inventory decreased by 4.
89% week-on-week; HDPE inventories rose 1.
90% week-on-week; LLDPE inventories decreased by 15.
99%
week-on-week.
Among them, the total inventory of PE of two barrels of oil declined, down 5.
42%
from last week.
Sinopec's PE inventory decreased by 18.
64% from last week; CNPC PE inventories increased by 1.
02%
from last week.
The PE inventory of coal enterprises fell by 2.
98%
week-on-week.
Among them, LDPE inventory decreased by 14.
18% week-on-week; HDPE inventory rose 17.
29% week-on-week; LLDPE inventories decreased 5.
34%
week-on-week.
Trader PE inventories fell by 8.
29%
from last week.

Spot market: domestic polyethylene market price shock adjustment
.
The sales company did not have many resources, and the linear, high-pressure offer rose
slightly.
Linear futures fluctuate, merchants have a wait-and-see attitude, offers are mixed, and the actual order trading atmosphere is not high
.
As of the noon close, the North China market adjusted around 50 yuan / ton; The East China market is temporarily stable; The South China market fell slightly by 50 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipt reported 1792 lots, +0 lots
within the day.
Main position: The top 20 long positions in the main contract are 175866 lots, +4645 lots, short positions are 254204 lots, +4166 lots, and the net position is -78338 lots, with a decrease
in net space.

Summary: Fundamentally, the average operating rate of polyethylene companies has fallen
from last week.
The total polyethylene production of domestic enterprises decreased
from last week.
The impact of PE equipment maintenance increased
slightly.
It is expected that the PE market supply will still decrease
slightly next week.
The overall operating rate of agricultural film enterprises was 36.
6%, +4.
0%
week-on-week.
Shed film, mulch film enterprises and operating rates have rebounded, indicating that downstream demand is acceptable
.
In addition, the PE inventory of domestic polyethylene enterprises (oil + coal) in this cycle fell by 4.
84% month-on-month, indicating that the market supply pressure is not large
.
However, the Philippines will increase PE supply in Asia by restarting its 2 polyethylene plants and 1 polypropylene plant in Batangas
.
As the current situation between the United States and Iran is still relatively complicated, it remains to be seen whether the conflict between the United States and Iran will further escalate, and operationally, it is recommended that investors wait and see for the time being
.