The contract contraction and the futures price fell slightly

News: 1.
Shenhua coal chemical industry Shenhua Baotou linear bidding volume today 885.
775 tons, yesterday's bidding volume 985.
775 tons, today's trading volume 434 tons, yesterday's trading volume 800 tons
.
Shenhua Low Pressure auctioned 433 tons today, 350 tons yesterday, 116 tons today, and 0 tons
yesterday.
Xinjiang High Pressure bid 50 tons today, 50 tons yesterday, 0 tons today, and 20 tons
yesterday.
2.
The apparent consumption of PE in June 2020 was 3.
2942 million tons, up 1.
93%
from the previous month.
The apparent consumption of HDPE was 1,556,300 tons, the apparent consumption of LLDPE was 1,221,800 tons, and the apparent consumption of LDPE was 516,100 tons
.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 7150 yuan / ton, +30
.

Warehouse receipt inventory: 760 warehouse receipts, +48
.
Main positions: top 20 long positions 93899, -12701; short positions 103610, -10128
.
Increased
headroom.

Summary: Fundamentally, port inventories remain in the historically low area, and the recent two barrels of oil and petrochemical inventories are also in the low area of the past few years, indicating that the short-term supply pressure is not large, crude oil maintains a high volatility pattern, and cost support is still there
.
However, after entering August, three new units are planned to be put into production, and it is expected that the market supply will increase significantly in the later period, and the gradual reduction of overhauled units after entering the middle and late months is expected to limit the growth of LLDPE
.
In operation, investors can set the take profit for short orders in their hands and hold
them cautiously.