Continuous plastic futures price shock rebound, many parties still have the advantage

News: 1.
As of July 2, 2021, the total inventory of polyolefin samples in major domestic ports was 314,200 tons, down 01,900 tons from last week's inventory and up 38,800 tons
from the same period last year.
2.
According to Longzhong estimates, the estimated output of polyethylene in July is 1.
965 million tons, +77,000 tons compared with the actual output of the previous month, +448,000 tons over the same period last year, of which 246,000 tons of high pressure, +18,000 tons month-on-month; Low pressure 898,000 tons, +81,000 tons, line type 823,000 tons, -23,000 tons
.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 8200 yuan / ton, +20 yuan
.

Warehouse receipt inventory: 5559 warehouse receipts, -0 receipts
.
Main positions: Top 20 long positions 240353, +11221, short positions reported 280291, +17311
.
Increased headroom

Summary: Last week, the average operating rate of polyethylene enterprises fell slightly, polyethylene production decreased, and the inventory of production enterprises declined, indicating that the pressure on the supply side is not large
.
The operating rate of various downstream industries of PE also fell from the previous week, of which agricultural film increased slightly, pipe and injection molding industry were basically flat, and packaging film and hollow industries fell
.
The inventory of production enterprises continued to decline, but the social inventory in East China increased slightly, and PE inventory showed signs
of flowing from production enterprises to midstream enterprises.
The L2109 contract rebounded during the day, and the futures price returned above the short-term moving average, indicating that the bulls still have the advantage
.