Liansu volatility goes down, and the market panic is strong

News: Shenhua Coal Chemical linear intraday bidding volume of 1028 tons, trading volume of 66 tons, transaction rate of 6.
42%; High-pressure auction 358 tons, volume 0 tons, transaction rate 0%; The low-pressure auction was 500 tons, and the transaction was 42 tons, with a transaction rate of 8.
40%.

Xinjiang high-pressure auction 100 tons, no deal
.

Spot market: The domestic polyethylene market price continues to fall
.
The opening price of all varieties of the main regional sales company has been reduced, with a range of 100-200 yuan / ton
.
Linear futures open wide and low, merchants are pessimistic, more upside down to find transactions, downstream on-demand procurement, real transactions are acceptable
.
As of the midday close, the North China market fell 50-200 yuan / ton; East China fell 100-200 yuan / ton; South China fell 50-200 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 576 lots, intraday -16 lots
.
Main position: The top 20 long positions in the main contract are 182252 lots, +93840 lots, short positions are 235111 lots, +131378 lots, and the net position is -52859 lots, with a net increase
in shorting.

Summary: The accelerated spread of the overseas epidemic has caused market panic, the absolute value of the domestic two barrels of oil and petrochemical inventory is still high, indicating that downstream demand has not fully recovered, crude oil is running weakly, and Shenhua online auction trading volume is still in the historical low area, which suppresses the price of polyethylene to a certain extent
.
Although the Fed opened the unlimited QE mode and released a 2 trillion economic stimulus plan, it failed to offset the panic in the market, and the market focused on the evolution of the overseas epidemic and when crude oil will stop falling and rebound
.
In terms of operation, it is recommended that investors set a take profit for short orders in their hands and hold
them cautiously.