Liansu contract rebounds in the short term

News: China's polyethylene production last week totaled 365,100 tons, an increase of 2.
90% over last week, and low pressure and high pressure increased, with increases of 0.
92 and 0.
57 million tons respectively; The linearity decreased by 0.
46 million tons
.

Spot market: The transaction atmosphere of the domestic polyethylene market is weak
.
The opening price of the main regional sales company is temporarily stable, the linear futures open low and fluctuate, the merchant's shipments are not smooth, the offer part is moved down, the downstream atmosphere is not strong, and the market transaction is difficult to increase
.
As of the noon close, the North China market fell 50-150 yuan / ton; East China market adjustment 50-100 yuan / ton; The South China market is temporarily stable
.

Warehouse receipt inventory: exchange warehouse receipts reported 2412 lots, intraday -30 lots
.
Main position: the top 20 long positions in the main contract are 161919 lots, -2091 lots, short positions are 222708 lots, -1875 lots, net positions are -60789 lots, net space increases
.

Summary: The introduction of domestic stimulus policies weakened market panic, and two barrels of oil and petrochemical inventories fell slightly to 1.
225 million tons, down 30,000 tons
from the previous day.
As the outbreak eases, downstream demand is expected to continue to recover
this week.
However, in the spot market, Shenhua Polyethylene online bidding commodities fell significantly the day before the transaction, indicating that the downstream post-holiday replenishment may come to an end
.
The decline of crude oil has also weakened the linear cost support to a certain extent, and the downstream resumption of work progress remains to be seen, and it is expected that the trend of polyethylene will still be repeated in the short term, and the future market will pay attention to the support
of 6890 yuan.