Liansu rebounded slightly Pay attention to the pressure of the upper moving average

News: polyethylene production in July was 1,492,200 tons, an increase of 73,100 tons from the previous month (1,419,100 tons), an increase of 134,700 tons over the same period last year (1,357,600 tons), of which linear 654,000 tons, an increase of 76,600 tons; low pressure 608,400 tons, down 13,700 tons, high pressure 229,800 tons, an increase of 10,200 tons
.

Spot market: the domestic polyethylene market price adjustment, enterprises, sales companies high pressure unit price part decreased, low pressure pipe opening price increased, the range of 100-200 yuan / ton
.
The attitude of merchants is wait-and-see, the offer is mainly slightly adjusted, the downstream bargain is purchased, and the transaction atmosphere is weak
.
As of the noon close, North China and East China adjusted 50 yuan / ton; Low pressure wire drawing in South China rose slightly by 100 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipt reported 1721 lots, intraday +60 lots; In the historical median zone
.

Main positions: The top 20 long positions in the main contract are 128749 lots, -8953 lots, short positions are 169226 lots, -13347 lots, and net long positions are -40477 lots, +4394 lots
.

Summary: Polyolefin port inventories have fallen, and PE social inventories are at a historical level, which supports
prices.
However, 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
.
Traders mainly let profits take goods, and the continued low operating rate of downstream enterprises has also put a certain pressure
on prices.
The market focuses on the pressure of
the upper moving average.
Operationally, it is recommended that investors wait and see for the time being
.