Liansu weak drop limit Market worries are rising

News: Shenhua coal chemical linear intraday auction volume 1046 tons, trading volume 0 tons, transaction rate 0%, high-pressure auction 448 tons, trading volume 0 tons, transaction rate 0%, low-pressure auction 432 tons, transaction 0 tons, transaction rate 0%, Xinjiang high-pressure auction 100 tons, transaction 0 tons, transaction rate 0%.

Shenhua Coal Chemical Auction was auctioned across the entire line, showing that the downstream willingness to take goods was insufficient
.

Spot market: the domestic polyethylene market fell, crude oil fell sharply, the main force of domestic linear futures fell to the limit, the opening price of the main regional sales company fell steadily, the spot market merchants were cautious, most of the offers moved down, and the real trading atmosphere was poor
.
As of the noon close, the North China market fell 50-220 yuan / ton; East China market adjustment 50-100 yuan / ton; The South China market fell 50-100 yuan / ton
.

Warehouse receipt inventory: Exchange warehouse receipts reported 2348 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 165595 lots, +9338 lots, short positions are 199889 lots, -6048 lots, net positions are -34294 lots, net space is reduced
.

Summary: The accelerated spread of the overseas epidemic has caused market panic, OPEC and OPEC+ failed to reach a production cut agreement, and crude oil has plummeted, which has increased the market's fears
.
In addition, the absolute value of the domestic two barrels of oil and petrochemical inventory is still high, indicating that downstream demand has not fully recovered, and Shenhua's online bidding is all streamed, showing that the downstream willingness to take goods is sluggish and the market is sluggish, which suppresses
the price of polypropylene to a certain extent.
Overall, the fundamentals are relatively bearish, and it is recommended that investors hold short orders with caution
.