The short-term trend is still weak

News: Huajin Chemical (formerly Panjin Ethylene) old low-voltage plant first/second line stopped on June 12, 2014, 300,000 tons/year low-voltage device was converted to K44
.
Today's release of 5502S is priced at 7720 yuan / ton, and K44 is priced at 8270 yuan / ton
.
Lanzhou Petrochemical's 200,000-ton high-voltage unit stopped on the 4th, and has now started to produce 2426H, and the 60,000-ton old full-density unit stopped on May 17, 2013 due to insufficient raw material supply, and has not been restarted
.
The 300,000-ton full-density unit will stop on the 29th, and it is expected to start tomorrow, and the production plan is 6096 and 6097
after driving.
The old line of 170,000 tons of low-voltage equipment produces 5000S, and the new line will be stopped on the 4th and is expected to be driven
on the 13th-15th.

Spot market: The domestic polyethylene market continues to be weak
.
The main regional sales company high pressure and linear part of the price reduction, ranging from 50-250 yuan / ton, cost support is weak
.
The merchant mentality is empty, most of the shipment offers are lowered, the downstream is cautious, and the real transaction is light
.
As of the noon close, the North China market was 50-100 yuan / ton lower; East China market fell by about 50 yuan / ton; The South China market is temporarily stable
.

Warehouse receipt inventory: exchange warehouse receipts reported 1078 lots, intraday - 40 lots; In the historical median zone
.

Main position: the top 20 long positions in the main contract are 183738 lots, -2119 lots, short positions are 197261 lots, -1914 lots, net positions are -13523 lots, net space is reduced
.

Summary: China and the United States are expected to cancel tariffs in phases, and after entering late October, the demand for plastic shed film is expected to gradually recover
.
This has some support for LLDPE, however, the International Monetary Fund lowered the global economic growth rate in 2019 to 3%, the lowest growth rate in 10 years, which hit market confidence, and the second round of environmental protection inspections began, the operating rate of agricultural film enterprises declined, procurement was cautious, and domestic PE social inventories rebounded
slightly.
In addition, ethylene prices in Asia also remain weak, and these factors are expected to weigh on
LLDPE.
The short-term trend of Liansu is still weak
.
In operation, it is recommended that investors hold short orders or set take profit in their hands and hold
them cautiously.