At present, the long and short are entangled and the continuous plastic shock has fallen

News: The first phase of Zhejiang Petrochemical's 40 million tons/year refining and chemical integration project has been fully put into operation, opening up the whole process, and has achieved stable operation and produced qualified products
.

Spot market: The domestic polyethylene market is stable and small
.
At the end of the year, the sales company partially stopped sales and settlement, and the opening price remained stable
.
Linear futures fell, spot merchants held a wait-and-see attitude, adjusted the offer with the market, the market trading center did not fluctuate much, as of the noon close, North China, East China market narrow adjustment of 50 yuan / ton around the bottom, South China market temporarily stable
.

Warehouse receipt inventory: exchange warehouse receipts reported 1391 lots, +0 lots
within the day.
Main position: The top 20 long positions in the main contract are 192158 lots, -4382 lots, short positions are 272039 lots, -528 lots, net positions are -79881 lots, net short increases
.

Summary: Asian market demand is lukewarm, and participants are on the sidelines
amid economic uncertainty.
In India, where demand is stable, production of tarpaulins in India has already begun, with the Philippines restarting its 2 polyethylene plants and 1 polypropylene plant
in Batangas at the end of December.
The average operating rate of domestic polyethylene enterprises has rebounded
.
The overall operating rate of downstream agricultural film enterprises decreased month-on-month, indicating that downstream demand has slowed down, and the total storage volume of PE of two barrels of oil decreased slightly, with a week-on-week decrease of 4.
20%.

The first phase of the Sino-US trade agreement, while the commodities on the second exclusion list have little impact on the market conditions, and the strong trend of crude oil has supported LLDPE to some extent
.
Overall, LLDPE is currently struggling
with long and short.
Operationally, it is recommended that investors wait and see
.