The price rebound of continuous plastic futures is weak and will maintain range-bound volatility in the short term

News: 1.
Longzhong Information reported on January 26: The two oil stocks were 520,000 tons (the revised inventory of 545,000 tons in the previous day), down 25,000 tons
from the previous day.
2.
Shenhua coal chemical industry Shenhua Baotou linear bidding volume is 400 tons, the previous day's bidding volume is 897 tons, the intraday trading volume is 309 tons, and the previous day's trading volume is 40 tons
.
Shenhua low pressure intraday bidding volume of 100 tons, previous day's bidding volume of 50 tons, intraday trading volume of 8 tons, previous day's trading volume of 50 tons
.
Yulin high-pressure intraday bidding volume was 51 tons, the previous day's auction volume was 51 days, the trading volume was 0 tons, and the previous day's trading volume was 0 tons

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 7900 yuan / ton, +0 yuan
.

Warehouse receipt inventory: 946 warehouse receipts, -6 warehouses
.
Main positions: Top 20 long positions 174243, +9794, short positions reported 210126, +7862
.
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, this week and next week may have many companies need to prepare materials, and the petrochemical inventory of 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 long and short intertwined, it is expected that the short-term will maintain a range shock, the center of gravity upward pattern, operationally, it is recommended that investors can set a take profit in their hands and hold
cautiously.