The recovery of the low in the plastic test was supported by lower inventories

News: As of April 3, the total inventory of PE of the two barrels of oil rose slightly, up 4.
14% week-on-week, down 2.
24%
year-on-year.
PE inventories of polyethylene enterprises (oil + coal) rose, up 4.
37%
week-on-week.
Trader PE inventories declined, down 4.
60%
week-on-week.
Traders' inventories are moving downward, but it is understood that the recent market has moved up, and some small and medium-sized traders have stockpiled operations
.

Spot market: The trading atmosphere of the domestic polyethylene market has declined, and the transaction prices of various varieties have risen and
fallen.
In terms of petrochemicals, the opening price of low-pressure pipes of the main regional chemical sales company was partially increased, and the rest was basically stable
.
Linear futures fell slightly, and there are still more low-cost resources circulating in the spot market, and the market trading performance is slightly deadlocked
.
Merchants' high-priced shipments were not smooth, and some offers moved
down.
As of the morning close, most of the North China market was 50-100 yuan / ton lower, and the pipe material was 50-100 yuan / ton higher; East China market fell slightly by 50 yuan / ton; South China market linear decline of 30-50 yuan / ton; The southwest market is temporarily stable
.

Warehouse receipt inventory: exchange warehouse receipt reported 0 lots; It is in the historically low area and stable
during the day.
Main positions: The top 20 long positions in the main contract are 116720 lots, +4275 lots, short positions are 144536 lots, +8111 lots, and net long positions are -27816 lots, -3836 lots
.

Summary: Downstream demand generally suppresses the price of LLDPE to a certain extent, crude oil price trend is firm, Asian ethylene prices are firm, social inventory decline rate slightly accelerated to produce certain support for Liansu, technically, L1905 contract low recovery, trading volume significantly shrinked, and positions increased
significantly.
The main position shows that the main position increase of the long party is smaller than the main position increase of the short side, and the short side occupies the initiative
.
The indicator MACD oscillated higher, the red bar elongated, and the KDJ indicator edged to the upside, indicating that the bulls had the upper
hand.
In terms of operation, investors hold long positions cautiously, and short positions can buy long positions lightly during the pullback
.