Continuous plastic shock retreat It is expected that there is still a risk of inertia downside

In terms of news, in 2020, there will be 6 sets of PE devices confirmed to be put into production (if verified by Xiaobian from company to company, the device will definitely be put into operation, and the time may be slightly different, everyone understands).

If the new production capacity of 4 million tons is launched as scheduled, the PE production capacity will reach 23.
61 million tons in 2020 (including Zhong'an United and Baofeng Phase II in 2019, with a production capacity of 19.
61 million tons), an increase of 20.
4%.

In the spot market, the domestic polyethylene market price fell, with a range of 50-150 yuan / ton
.
In terms of enterprises, the opening price of the main regional sales company was slightly loosened, mainly linear and low pressure, with a range of 50-100 yuan / ton
.
In terms of the market, linear futures fell widely, merchants were cautious, the center of gravity of shipment offers shifted, the enthusiasm for downstream goods was poor, and the overall trading atmosphere was weak
.
As of the midday close, most of North China fell 50-150 yuan / ton; Linear drop of 50-100 yuan / ton in East China; South China fell by about 100 yuan / ton
.

warehouse receipt inventory, exchange warehouse receipt reported 1563 lots, intraday +0 lots; In the historical median zone
.
Main positions: The top 20 long positions in the main contract are 181138 lots, +7598 lots, and the short positions are 238858 lots, +342 lots
.

Summary: The recovery of crude oil has supported the price of LLDPE
.
However, after a sustained rise, there are certain signs of overbought in the short term, which suppresses
the price.
Technically, the short-term trend of the current L1909 contract is still weak, and it is expected that there is still a risk
of inertia downside.
The indicator MACD high dead cross downward, the red bar contracted, and the KDJ indicator also showed signs
of a high retreat.
Operationally, investors can hold short orders cautiously
.