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On Tuesday, Liansu fell slightly, and the main contract of L2001 fell slightly, with the futures price closing at 7270 yuan / ton, -35 yuan from the previous trading day; Volume 305662 lots, -65972 lots; Position 615554 lots, -4560 lots, basis -5 yuan, -80 yuan; 1-5 spreads 100 yuan, +10 yuan
.
News: Lanzhou Petrochemical's 200,000-ton high-voltage plant produced 2426H, and the 60,000-ton old full-density plant was stopped on May 17, 2013 due to insufficient raw material supply, and has not been restarted
.
The 300,000-ton full-density plant is parked, and it is planned to stop for 4 days, and the production of 6095H
is planned after start-up.
The old line of 170,000 tons of low-voltage equipment produces 5000S, and the new line is converted to 5000S
.
Spot market: The domestic polyethylene market atmosphere is still weak
.
In terms of petrochemicals, the opening price of sales companies moved down slightly, with a range of 50 yuan / ton
.
Linear futures are weak and narrow, spot merchants are not shipping smoothly, offers are negative, downstream goods are cautious, and real orders are mainly negotiated
.
As of the noon close, the North China and East China markets were down 20-100 yuan / ton; The South China market is temporarily stable
.
Warehouse receipt inventory: exchange warehouse receipts reported 1562 lots, intraday - 99 lots; In the historical median zone
.
Main position: The top 20 long positions in the main contract are 195988 lots, -3422 lots, short positions are 201620 lots, -1357 lots, net positions are -5632 lots, net space increased
.
Summary: Crude oil stopped falling and rebounded, the Sino-US trade dispute showed signs of easing, and after entering late October, the downstream demand for plastics gradually recovered
.
This has some support for LLDPE, however, the International Monetary Fund lowered the global economic growth rate in 2019 to 3%, the lowest growth rate in 10 years, which hit market confidence, and the second round of environmental protection inspections opened, downstream enterprises were cautious in purchasing, and domestic PE social inventory stocks rebounded
slightly.
In addition, ethylene trends in Asia continue to weaken, and these factors are expected to suppress
LLDPE.
It is expected that Liansu may maintain a range-bound pattern
.
Operationally, investors continue to hold short orders at the 7380 line until the profit level
.
