Liansu contracts opened low and volatile, and the overall market transaction was not good

News: Shenhua coal chemical linear intraday bidding volume of 1100 tons; The trading volume was 435 tons, and the transaction rate was 39.
55%; The high-pressure bidding volume was 286 tons, the transaction volume was 0 tons, and the transaction rate was 0%; The low-pressure bidding volume is 400 tons, the transaction is 0 tons, and the transaction rate is 0%; Xinjiang high-pressure bidding volume was 50 tons, the transaction was 0 tons, and the transaction rate was 0%.

As of March 20, 2020, the total sample inventory of major domestic ports of polyolefin was 362,400 tons, down 07,900 tons
from last week.
It was down 42,000 tons
year-on-year.
Affected by international public health events, port inventories this year are significantly lower than in previous years
.

Spot market: The domestic polyethylene market mostly fell
.
Most of the opening prices of the main regional sales companies have been reduced, and the cost support is lacking
.
Linear futures opened low and fluctuated, merchants were pessimistic, most of the offers moved down, only a few tight resources rose slightly, and the overall transaction was not good
.
As of the noon close, the North China market adjusted 50-120 yuan / ton; East China and South China fell 50-100 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 642 lots, intraday -284 lots
.
Main position: the top 20 long positions in the main contract are 116085 lots, -3755 lots, short positions are 131505 lots, -9042 lots, net positions are -15420 lots, net space is reduced
.

The accelerated spread of the overseas epidemic has caused market panic, and the absolute value of domestic two barrels of oil and petrochemical inventories is still high, indicating that downstream demand has not fully recovered, crude oil is running weakly, and although the volume of Shenhua's online auction has increased, it is still in the historical low area, which has suppressed
the price of polyethylene to a certain extent.
However, there is news that the United States may intervene in the price war set off by Saudi Arabia and Russia, and international oil prices have rebounded sharply, but it remains to be seen whether it can be
sustained.
The future market focuses on whether crude oil can stop falling and rebound
.
In terms of operation, it is recommended that investors close short orders in their hands to close the dip, and pay attention to the long opportunities
of the 2009 contract in the future.