Continuous plastic shrinkage increased position, and the futures price fluctuated higher

News: 1.
Longzhong Information reported on January 27: Shenhua coal chemical industry Shenhua Baotou line type auction volume today 500 tons, yesterday's bidding volume 897 tons, today's trading volume of 400 tons, yesterday's trading volume of 40 tons
.
Shenhua Low Pressure bid 100 tons today, 50 tons yesterday, 8 tons today, and 50 tons
yesterday.
Yulin High Pressure bid 51 tons today, 51 yesterday's auction volume 0 tons today, 0 tons yesterday.

2.
According to Longzhong statistics, last week (20200116-20210122) the total output of propylene in the country was about 799,000 tons, down 10,000 tons
from the previous week.
3.
On January 25, the Huatai Shengfu Light Hydrocarbon Comprehensive Utilization Project located in Daxie, Ningbo, successfully trial-produced polyethylene products, becoming the first polyethylene enterprise
to successfully test in 2021.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 8000 yuan / ton, +0 yuan
.

Warehouse receipt inventory: 936 warehouse receipts, -10 sheets
.
Main positions: Top 20 long positions 174381, +138; short positions reported 212699, +2573
.
Increased
headroom.

Summary: In January, PE maintenance equipment began to resume work, the weekly average operating rate of polyethylene rebounded, and the overall market supply began to recover
.
However, the Spring Festival holiday is approaching, this week and next week may have many companies need to prepare materials, and the petrochemical inventory of two barrels of oil continues to remain low, and the operating rate of downstream products has rebounded last week, indicating that the downstream rigid demand for PE is still there
.
At present, the fundamentals are long and short intertwined, it is expected that the short-term will maintain a range shock, the center of gravity upward pattern, operationally, it is recommended that investors can set a take profit in their hands and hold
cautiously.