The price of continuous plastic futures rebounded slightly, maintaining range-bound volatility in the short term

News: 1.
According to Longzhong statistics, polyethylene production in September was 1.
7574 million tons, an increase of 27,800 tons from the previous month and an increase of 347,200 tons over the same period last year, including 256,000 tons of high pressure, 802,000 tons of low pressure and 699,400 tons
of linearity.
2.
Longzhong Information reported on October 20: the two oil stocks were 760,000 tons (the previous day's revised inventory was 785,000 tons), down 25,000 tons
from the previous day.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 7350 yuan / ton, +0 yuan
.

Warehouse receipt inventory: 968 warehouse receipts, -0 sheets
.
Main positions: Top 20 long positions 166080, -4557; short positions 178378, -3167
.
Increased
headroom.

Summary: After entering the middle and late October, PE has a new plant production plan, and the equipment for later maintenance is gradually reduced, and the decline rate of the two barrels of oil and petrochemical inventory after the holiday slows down, indicating that the market supply has increased
.
On the demand side, as the weather gradually gets colder, the demand for agricultural film in the north will recover, and the orders of BOPP companies will also increase steadily, indicating that downstream demand has recovered well, and these factors support
linear prices.
It is expected that the linear or will maintain the pattern
of range oscillation and downward shift of the center of gravity.
Operationally, investors should
operate in the range of 7350-7180.