Liansu's main force rebounded slightly, and the market supply pressure increased

News: The PE inventory of domestic polyethylene enterprises (oil + coal) rose slightly this cycle, with a week-on-week increase of 1.
51%.

In terms of varieties, LDPE inventory increased by 17.
70% week-on-week; HDPE inventory decreased by 5.
83% week-on-week; LLDPE inventories rose 4.
21%
week-on-week.
Total inventories of two barrels of oil PE were higher, up 6.
84%
from last week.
Among them, Sinopec's PE inventory increased by 14.
22% from last week; CNPC PE inventories rose 3.
54%
from last week.
PE inventories of coal-based enterprises declined, down 13.
06%
week-on-week.
Traders' PE inventories fell 10.
19%
week-on-week.

Spot market: The domestic polyethylene market continues to be weak
.
The ex-factory price of the main regional sales company was reduced, with a range of 50-150 yuan / ton
.
Linear futures fluctuated slightly higher, but due to the decline in factory prices, most of the spot market offers fell with the market, the market trading atmosphere was still weak, and the center of gravity of real trading shifted
downward.
As of the noon close, the North China market adjusted 20-100 yuan / ton; The East China market fell by 50-100 yuan / ton; The South China market is temporarily stable
.

Warehouse receipt inventory: exchange warehouse receipt reported 1081 lots, +0 lots
within the day.
Main position: The top 20 long positions in the main contract are 183141 lots, +24145 lots, short positions are 175201 lots, -45910 lots, and net positions are -67787 lots, net short increases
.

Summary: The overall operating rate of agricultural film enterprises this week was 42.
34%, +0.
07% week-on-week, showing a decline in demand for shed film and an increase in demand for mulch film
.
Exports of plastic products have also rebounded, which has provided some support
for LLDPE.
However, the International Monetary Fund lowered the global economic growth rate in 2019 to 3%, the lowest growth rate in 10 years, and the average operating rate of polyethylene enterprises this week was 93.
84%, an increase of 3.
36 percentage points
compared with the previous cycle data (90.
48%).
The total output of polyethylene of domestic enterprises was 376,600 tons, an increase of 13,500 tons
from the previous month.
Polyethylene production rose in November, and social inventories also rebounded, indicating increased supply pressure
.
It is expected that there will still be weak adjustment requirements
in the short term.
In operation, investors can set the take profit for short orders in their hands and hold
them cautiously.