Continuous plastic shrinkage increases position, and the futures price is weak and volatile

News: 1.
Longzhong Information reported on December 23: The two oil stocks were 625,000 tons, down 15,000 tons
from the previous day.
2.
Longzhong Information reported on December 23: Shenhua coal chemical industry Shenhua Baotou linear bidding volume was 700 tons, the previous day's bidding volume was 836 tons, the intraday trading volume was 32 tons, and the previous day's trading volume was 736 tons
.
3.
In 2020, the average operating load of PE installations in India will be about
76%.
The average number of days for PE equipment maintenance in India is more than
26 days.
The total maintenance loss of PE equipment reached about
655,000 tons.
From January to October 2020, China's total imports of Indian PE were 687,800 tons, accounting for 4.
45% of the country's total imports, a decrease of 14.
51%
compared with the same period.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 7900 yuan / ton, -100 yuan
.
Warehouse receipt inventory: 849 warehouse receipts, -7 warehouses
.

Main positions: the top 20 long positions 134109, +6098, short positions at 138840, +3314
.
Reduced
headroom.

Summary: Two barrels of oil and petrochemical inventories continue to remain low, indicating that there is little pressure on the supply side
.
However, the trend of crude oil weakened, PE has a new plant planned to start production in December, and the number of units for later maintenance is gradually reduced, indicating that the market supply has increased
.
As the weather gradually becomes colder, although the demand for agricultural film has rebounded slightly, the demand for pipes in the north has gradually weakened, and the demand for packaging film has also decreased
.
In operation, investors can set a stop loss at the high and test the short
position lightly.