The market supply is still relatively sufficient

News: In March 2020, domestic PE production increased
sharply year-on-year.
Data show that in March, China's PE output was about 1.
6945 million tons, up 179,300 tons, or 11.
83%, from February, and still 185,300 tons, or 12.
28%,
higher than the same period last year.
From January to March 2020, China produced a total of 4.
8735 million tons of PE, 514,900 tons higher than the same period last year, an increase of 11.
81%.

From the above data, it can be seen that the current domestic supply is still relatively sufficient
.

In March, the domestic production of plastic products increased
significantly.
Data show that in March 2020, China's plastic products output was 7.
845 million tons, an increase of 2.
952 million tons over the same period last year, an increase of 60.
33%.

Spot market: The domestic polyethylene market is mostly up
.
The opening price of the sales company was partially raised, the range was about 100 yuan / ton, linear futures rose, merchants did not have many resources at the end of the month, the offer actively followed up, and the transaction atmosphere was acceptable
.
As of the noon close, the North China market rose by about 100 yuan / ton; East China market rose 50-150 yuan / ton; The South China market rose 50-100 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 116 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 239193 lots, +15517 lots, short positions are 260846 lots, +8432 lots, and the net position is -21653 lots, with a decrease
in net shorting.

Summary: The global economy is weak
due to the pandemic.
The IMF also lowered its global GDP growth forecast to -3%, which weighed on market confidence and crude oil fell
slightly.
In the industrial chain, the demand for agricultural film is basically over, the demand for shed mold has not yet begun, the demand for packaging film is basically stable, and Thursday and Friday are affected by the rise in futures, however, the volume of Shenhua net auction has increased significantly, the production of plastic products in March has increased significantly, and after entering May, the maintenance of the device has increased, which is expected to form a certain support for continuous plastic, operationally, investors can hold more orders in the hands of caution
.