Liansu rebounded slightly, and the actual transaction of the market followed slowly

In terms of news, Shenhua online auction data shows that polypropylene auctioned 2201 tons, and the transaction was 1568 tons, with a transaction rate of 71.
26%.

Some goods are traded 10--70 yuan higher than the reserve price, and some models are up to 110 yuan higher than the reserve price
.
The linear auction was 900 tons, and 864 tons were transacted, with a transaction rate of 96%.

Some are 10--20 yuan higher than the reserve price
.
Individual models were sold
50 yuan higher.
The volume of linear auctions has rebounded significantly, and the transaction is active, indicating that the willingness to take goods downstream has rebounded
.

Spot market: The domestic polyethylene market price fell slightly, and the transaction atmosphere was still weak
.
In terms of enterprises, the opening price of sales companies was partially reduced, with a range of 50-100 yuan / ton, and the cost support was weak
.
In terms of the market, linear futures are weak and volatile, merchants have a wait-and-see attitude, the offer follows the petrochemical adjustment, some upside down shipments, and the transaction performance is weak
.
As of the noon close, the North China market fell 50-100 yuan / ton, and the East China market fell 50 yuan / ton; The South China market is temporarily stable
.

Warehouse receipt inventory: exchange warehouse receipt reported 1961 lots, intraday +0 lots; In the historical median zone
.
Main positions: The top 20 long positions in the main contract are 100428 lots, -772 lots, short positions are 132557 lots, -6830 lots, and net long positions are -32129 lots, +3058 lots
.

Summary: Polyolefin port inventories have fallen, and PE social inventories are at historical lows to support
prices.
However, the intensification of the Sino-US trade war has affected market confidence, in addition, the weakening of crude oil and the correction of ethylene prices have also weakened the cost support
of polyethylene.
The operating rate of downstream enterprises fell sharply year-on-year, manufacturers had limited enthusiasm for procurement, low willingness to stock up, and slow follow-up of actual transactions
.
The rise in traders' inventories has been mainly based on profit taking profits in the near future, and the continued low operating rate of downstream enterprises has also put a certain pressure
on prices.
It is expected that the weak adjustment will remain mainly
in the short term.
In terms of operation, it is recommended that investors can reduce their holdings in batches to buy short orders in their hands, and drop their pockets for safety
.