Liansu rebounded slightly, and the futures price closed slightly higher

In terms of news: Hebei Province has set up five ecological environmental protection inspection teams of the provincial party committee and provincial government, and decided to station in Baoding City, Dingzhou City, Langfang City from October 10 to November 10, and Shijiazhuang City, Xingtai City and Handan City from November 15 to December 15 to carry out the second round of ecological environmental protection inspection work of the provincial party committee and provincial government
.
This means that it is increasingly difficult for plastic products companies that are not environmentally friendly to survive
.

The PE inventory of domestic polyethylene enterprises (oil + coal) fell broadly in this cycle, with a week-on-week decrease of 16.
66%.

In terms of varieties, LDPE inventory decreased by 14.
51% week-on-week; HDPE inventory decreased by 15.
16% week-on-week; LLDPE inventories decreased by 19.
66%
week-on-week.
The total inventory of PE of the two barrels of oil has trended down, falling by 15.
70%
from last week.
Among them, Sinopec's PE inventory fell 9.
91% from last week; CNPC PE inventories fell 18.
38%
from last week.
PE inventories of coal-based enterprises declined, down 19.
43%
week-on-week.
Among them, LDPE inventory decreased by 23.
37% week-on-week; HDPE inventory decreased by 8.
77% week-on-week; LLDPE inventories decreased by 25.
89%
week-on-week.
Traders' PE inventories rose 8.
41%
week-on-week.

Spot market: The domestic polyethylene market is mixed
.
In terms of petrochemicals, the sales company's high-pressure and low-pressure opening prices were reduced by 100 yuan / ton, and CNPC North China Linear cancelled the batch policy
.
Linear futures fluctuated, merchants adjusted the offer with the line, real negotiations were the mainstay, downstream just needed just demand, and the trading atmosphere improved
.
As of the noon close, the price fluctuation range of North China, East China and South China market was 50-150 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipt reported 1921 lots, intraday -0 lots; In the historical median zone
.
Main position: The top 20 long positions in the main contract are 202900 lots, -7203 lots, short positions are 203983 lots, -7474 lots, net positions are -1083 lots, and the net margin is reduced
.

Summary: After the long holiday, driven by the replenishment of downstream enterprises, the petrochemical inventory of the two barrels of oil fell significantly
.
The downstream agricultural film gradually entered the peak season, these factors have produced 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 purchased cautiously, traders did not ship smoothly, and inventories rose
.
In addition, the continued weakness of ethylene in Asia is expected to suppress
LLDPE.
The future market will pay attention to whether the pressure of the 7385-7400 line can be broken
.
Operationally, investors can hold short orders cautiously
.