Liansu fell slightly, and the market trading atmosphere was not strong

News: Shenhua coal chemical industry Shenhua Baotou linear intraday bidding volume of 779 tons, the previous day's bidding volume of 699 tons, intraday trading volume of 249 tons, the previous day's trading volume of 80 tons
.
Shenhua low-pressure intraday bidding volume was 157.
7 tons, the previous day's bidding volume was 165.
7 tons, the intraday trading volume was 0 tons, and the previous day's trading volume was 128 tons
.
Yulin High Pressure intraday bidding volume was 82.
175 tons, previous day's bidding volume was 82.
18 tons, intra-day trading volume 0 tons, and the previous day's trading volume was 20 tons
.
Xinjiang high-pressure intraday bidding volume is 50 tons, the previous day's bidding volume is 50 tons, intraday trading volume is 0 tons, and the previous day's trading volume is 0 tons
.
The two oil stocks were 720,000 tons, unchanged
from the previous day.

Spot market: The price trend of the domestic polyethylene market is mixed
.
The sales price of the main region is steadily reduced, with a range of 50-100 yuan / ton, and the market trading atmosphere is not strong, and the cautious wait-and-see is the mainstay
.
As of the noon close, the fluctuation range in North China was 50-100 yuan / ton, the fluctuation range in East China was 50-100 yuan / ton, and the fluctuation range in South China was 50-100 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 306 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 209858 lots, -10358 lots, short positions are 206348 lots, -6589 lots, and the net position is 3510 lots, net long decrease
.

Summary: Recently, crude oil has maintained a high volatility pattern, forming a certain support
for chemicals.
Fundamentally, there are still many PE devices in China under maintenance recently, and the apparent consumption of PE and downstream pipe production in May have increased, indicating that the downstream rigid demand is better, port inventories are still maintained at a historical low area, and the two barrels of oil and petrochemical inventories are also lower than the same period last year, showing that the sales pressure of production enterprises is not large, and these factors are expected to have some support
for prices.
However, after continuous rises, there is an overbought phenomenon in the short term, and investors should guard against a technical correction
in the process of rising.
Operationally, it is advisable
for investors to wait and see for the time being.