The price of continuous plastic narrow finishing fell slightly

News: In the first half of 2020, polyethylene production totaled 9.
5689 million tons, a year-on-year increase of 10.
61%.

January was the highest, reaching 91%, and June was affected by the maintenance of the plant, the lowest operating rate was 81.
32%.

The two oil stocks were 760,000 tons (the previous day's inventory was revised to 780,000 tons), down 20,000 tons
from the previous day.

Shenhua Coal Chemical Industry Shenhua Baotou linear intraday bidding volume of 834 tons, previous day's bidding volume of 734 tons, intraday trading volume of 633 tons, last day's trading volume of 500 tons
.
Shenhua low-pressure intraday bidding volume was 274 tons, the previous day's bidding volume was 124 tons, the intraday trading volume was 274 tons, and the previous day's trading volume was 0 tons
.
Yulin High Pressure intraday bidding volume was 82.
175 tons, previous day's bidding volume was 82.
175 tons, intra-day trading volume was 0 tons, and the previous day's trading volume was 0 tons
.
Xinjiang high-pressure intraday bidding volume is 50 tons, the previous day's bidding volume is 50 tons, intraday trading volume is 0 tons, and the previous day's trading volume is 0 tons
.

As of July 17, 2020, the total inventory of polyolefin samples in major domestic ports was 270,400 tons, down 05,000 tons from last week and 131,000 tons
from last year.

Spot market: the price trend of the domestic polyethylene market is up and down
.
Linear futures fluctuated down, the main regional sales ex-factory order price was steadily lowered, the range of 50-300 yuan / ton, merchants offered with the market, some quotations moved up slightly, downstream just need to take goods, the transaction is general
.
As of the noon close, the fluctuation range in North China was 50-100 yuan / ton, in East China it was 100-200 yuan / ton, and in South China it was 50-100 yuan / ton
.

Warehouse receipt inventory: Exchange warehouse receipts reported 295 lots, intraday -0 lots
.
Main position: the top 20 long positions in the main contract are 185047 lots, -14142 lots, short positions are 190173 lots, -11325 lots, net positions are -5126 lots, net short increases
.

Summary: Recently, crude oil has maintained a high volatility pattern, forming a certain support
for chemicals.
Fundamentally, there are still many PE devices in China under maintenance recently, port inventories are still maintained at historical lows, and two barrels of oil and petrochemical inventories are also lower than the same period last year, indicating that the sales pressure of production enterprises is not large, and these factors are expected to have some support
for prices.
However, the recent flood disaster has a great impact on plastic downstream products enterprises, and after continuous rise, there is an overbought phenomenon in the short term, and investors should guard against a technical pullback
in the process of rising.
Operationally, investors temporarily focus on the operation strategy of short and short prices
.