The fundamentals are long and short intertwined, and the price of plastic futures fluctuates higher

News: 1.
In January 2021, the operating rate of domestic polyethylene (PE) pipe enterprises decreased by 12% in January 2021 compared with December 2020, and increased by 7%
over the same period last year.
At present, domestic polyethylene (PE) pipe companies have recently suspended work and holiday, about a week earlier than the Spring Festival holiday in previous years, and due to the impact of the epidemic, the year-end inventory reserve has decreased
slightly this year.
2.
Longzhong Information reported on January 28: Shenhua coal chemical industry Shenhua Baotou line type auctioned 628 tons today, 897 tons yesterday, 628 tons today, and 40 tons
yesterday.
Shenhua Low Pressure bid 100 tons today, 50 tons yesterday, 8 tons today, and 50 tons
yesterday.
Yulin High Pressure bid 51 tons today, 51 yesterday's auction volume 0 tons today, 0 tons yesterday.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 8050 yuan / ton, +50 yuan
.

Warehouse receipt inventory: 923 warehouse receipts, -13 sheets
.
Main positions: Top 20 long positions 187926, +13545, short positions reported 221583, +8884
.
Reduced
headroom.

Summary: In January, PE maintenance equipment began to resume work, the weekly average operating rate of polyethylene rebounded, and the overall market supply began to recover
.
However, the Spring Festival holiday is approaching, and many companies may need to prepare materials this week, and the petrochemical inventory of the two barrels of oil continues to remain low, and the operating rate of downstream products has rebounded last week, indicating that the downstream rigid demand for PE is still there
.
At present, the fundamentals are intertwined, and it is expected that the pattern of range volatility and upward center of gravity will be maintained in the short term
.