Liansu reduced its position and rebounded, and the short-term increase was slightly larger

News: Shenhua online PP auction transaction volume rebounded
sharply.
The data shows that polypropylene auctioned 4312 tons, (2853 in the previous trading day), and 3934 tons (2818 in the previous trading day) The transaction volume increased
significantly.
Some transaction prices are 10--60 yuan higher than the reserve price, and some models are 110 yuan
higher.
Linear trading volume also recovered slightly, bidding 902 tons (1706 in the previous trading day), 652 tons (585 yesterday), half of which were traded at the reserve price, with a separate premium of 90 yuan
.

Spot market: domestic polyethylene market price adjustment
.
In terms of petrochemicals, the opening price of the main regional chemical sales company is basically stable, and in the market, the merchants' offers at the beginning of the month have returned to normal, the market low price has decreased, and the center of gravity has moved upward, but due to the impact of the advance overdraft of the demand part, the transaction situation is temporarily average
.
As of the close of the morning, the adjustment range of the North China market was 50-100 yuan / ton; East China market narrowly adjusted around 50 yuan / ton; The South China market rose slightly by 50-100 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipt reported 0 lots; It is in the historically low area and stable
during the day.
Main positions: The top 20 long positions in the main contract are 90995 lots, -2782 lots, short positions are 112947 lots, -3136 lots, and net long positions are -21952 lots, +354 lots
.

Fundamentally, downstream demand is general, social inventory continues to be high to a certain extent to suppress the price of LLDPE, but the strong trend of crude oil prices to Liansu to produce certain support, technically, L1905 contract volatility higher, trading volume and position have shrunk
sharply.
The main position shows that the main position reduction of the long party is smaller than the main position reduction of the short side, and the multi-party strategy occupies the initiative
.
The indicator MACD flattened, the green column contracted, and the KDJ indicator quickly rebounded, indicating a slight advantage in bullish strength
.
In terms of operation, the short-term increase is slightly larger, and it is recommended that investors reduce their positions
when they hedge high.