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On Monday, Liansu L2105 contract increased its position, and the futures price soared and fell, closing at 8605 on the day, +25 yuan from the previous trading day; The volume is 459785 lots, the position volume is reported 255633 lots, +6117, and the basis is 45 yuan
.
News: 1.
In the second quarter of 2021, China's polyethylene industry entered a period of concentrated capacity expansion, and the supply side in the second quarter with the commissioning of new equipment, according to Longzhong information statistics, the new production capacity is 5.
44 million tons, when the domestic production capacity will reach 28.
85 million tons / year, which will provide a lot of pressure on the supply side in the second quarter and the second half of
the year.
2.
As of March 26, 2021, the total inventory of polyolefin samples in major domestic ports was 398,200 tons, an increase of 5,000 tons from last week's inventory and 47,900 tons
from last year.
Market quotation: North China Daqing Petrochemical 7042 mainstream price is 8650 yuan / ton, +0 yuan
.
Warehouse receipt inventory: 242 warehouse receipts, -178 sheets
.
Main positions: Top 20 long positions 172367, +9603; short positions reported 188394, +10014
.
Increased
headroom.
Summary: In March, there were still installations in Asia for shutdown and maintenance, and supply in overseas markets remained tight
.
Dow Chemical said the price of all polyethylene resin it sells in the U.
S.
will increase by 9 cents/pound ($200/ton)
starting in April.
Domestic: The average operating rate of domestic polyethylene enterprises rose slightly to 97.
98% last week, and the domestic production of polyethylene increased
.
The operating rate of domestic PE downstream industries remained stable, reporting 59%, in addition to the decline in the operating rate of agricultural film enterprises, the operating rate of pipe, packaging film, hollow and injection molding enterprises all increased
by different amounts.
The PE inventory of domestic polyethylene enterprises (oil + coal) continued to decline, down 6.
36%
week-on-week.
Downstream bargain hunting, resistance to high prices, poor shipments by traders, and inventories continued to rise by 20.
54%, indicating that the inventory of production enterprises showed signs
of shifting to middlemen.
Lianyungang Petrochemical has a new plant put into operation in mid-April, and the market is expected to be
well supplied.
Operationally, it is advisable
for investors to wait and see for the time being.
