Short-term supply pressure is not large, and the price of continuous plastic futures fluctuates higher

News: 1.
PE imports in July 2020 were about
1.
6664 million tons.
It decreased by 163,300 tons, or 8.
92
, from June.
Compared with the same period last year, Changhong increased by 274,400 tons, an increase of 19.
71%.

Among them, LDPE imports were 286,000 tons, HDPE imports were 824,200 tons, and LLDPE imports were 556,200 tons
.
In July 2020, the total PE export volume was 20,100 tons
.
Among them, the export volume of LDPE is 0.
70 million tons, the export volume of HDPE is 096000 tons, and the export volume of LLDPE is 0.
35 tons
.
2.
The two oil stocks were 585,000 tons, down 40,000 tons
from yesterday.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 7300 yuan / ton, +50 yuan
.
Warehouse receipt inventory: 1110 warehouse receipts, +115 sheets
.

Main positions: Top 20 long positions 203138, +11215, short positions 207751, +6772
.
Reduced
headroom.

Summary: From the end of August to the beginning of September, PE has a new plant and a production plan, and after entering the second half of the year, the number of overhauled equipment will gradually decrease, and it is expected that the market supply will increase
significantly in the later stage.
However, crude oil maintained a high volatility pattern, and the cost support of continuous plastic is still there
.
The operating rate of downstream agricultural film enterprises has rebounded, and the recent polyolefin inventory in major domestic ports has remained in the historical low area, and the two barrels of oil and petrochemical inventory are also in the low area of the past few years, indicating that the short-term supply pressure is not large.