Liansu slightly higher Market merchants mostly hold a wait-and-see attitude

News: Shenhua coal chemical industry Shenhua Baotou linear intraday bidding volume of 543 tons, the previous day's bidding volume of 523 tons, intraday trading volume of 543 tons, the previous day's trading volume of 0 tons
.
Shenhua low-pressure intraday bidding volume was 165.
7 tons, the previous day's bidding volume was 175.
7 tons, the intraday trading volume was 0 tons, and the previous day's trading volume was 10 tons
.
Yulin High Pressure intraday bidding volume was 82.
175 tons, the previous day's bidding volume was 82.
18 tons, the trading volume within the day was 0 tons, and the previous day's trading volume was 0 tons
.
Xinjiang high-pressure intraday bidding volume is 50 tons, the previous day's auction volume is 50 tons, the intraday trading volume is 20 tons, and the previous day's trading volume is 50 tons

Two barrels of oil and petrochemical inventories were reported at 750,000 tonnes, up 95,000 tonnes
from Friday.
As of July 10, 2020, the total port sample inventory was 275,400 tons, stable from last week and down 143,000 tons
from last year.

Spot market: The price trend of the domestic polyethylene market is mixed
.
Linear futures fluctuated to the upside, sales in the main regions were temporarily stable, the market was cautious, and merchants held more coins on the sidelines
.
As of the noon close, the fluctuation range in North China was 50-100 yuan / ton, the fluctuation range in East China was 50 yuan / ton, and the fluctuation range in South China was 50-200 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 306 lots, intraday -182 lots
.
Main positions: The top 20 long positions in the main contract are 215746 lots, -6938 lots, short positions are 209688 lots, -1795 lots, and the net position is 6058 lots, net long is reduced
.

Summary: Recently, crude oil has maintained a high volatility pattern, forming a certain support
for chemicals.
Fundamentally, there are still many PE devices in China under maintenance recently, and the apparent consumption of PE and downstream pipe production in May have increased, indicating that the downstream rigid demand is better, port inventories are still maintained at a historical low area, and the two barrels of oil and petrochemical inventories are also lower than the same period last year, showing that the sales pressure of production enterprises is not large, and these factors are expected to have some support
for prices.
However, the continuous rise of the meridian edge, short-term operation buying phenomenon, investors should guard against the technical pullback
in the rally.
In terms of operation, investors can reduce their holdings when they rush high, and they can drop their bags for safety
.