Liansu continued to weaken, and the futures price was weak and volatile

As of May 10, Shanghai port inventory was 297,200 tons, Huangpu port inventory was 81,000 tons, Tianjin port inventory was 62,100 tons, the total was 440,300 tons, up 40,800 tons
from before May Day.

Spot market: the domestic polyethylene market continues to be weak, and the opening price of the main regional sales companies continues to decrease, mainly linear and low-pressure varieties, with a decrease of
100-300 yuan / ton.
Linear futures are broadly lower, spot merchants are pessimistic, actively underreport shipments, downstream is cautious, and the market is weak
.
As of the morning close, prices in North China, East China, South China and Southwest China fell by
50-300 yuan / ton.

Warehouse receipt inventory: exchange warehouse receipts reported 1812 lots; In the all-time low zone, +355 lots
intraday.
Main position: the top 20 long positions in the main contract are 190436 lots, 11763 lots, short positions are 242256 lots, 12045 lots, net long positions are -51820 lots, short positions increase more
.

Summary: Affected by macro factors, coupled with the contradiction between supply and demand of plastics themselves, short-term prices continue to fall, and the downstream demand for plastics is general, while the inventory pressure rises after the holiday, the supply pressure is large, and the basis is further expanded
.
Technically, the L1909 contract continued to fluctuate downward, the MACD green kinetic energy column was further amplified, the KDJ indicator further weakened, the upper moving average showed a short arrangement, and the futures price was mainly weak and volatile
.
Operationally, it is recommended to close the five-day line and break through the stop loss
.