Continuous plastic volatility declined, and market trading decreased significantly

News: Shenhua Coal Chemical linear intraday bidding volume of 1314 tons (1264 tons in the previous day) trading volume of 28 tons (216 tons in the previous day), the transaction rate is 2.
13%; The low-pressure auction was 300 tons (300 tons in the previous day) and 0 tons was sold (42 tons in the previous day), with a transaction rate of 0%.

Xinjiang high-pressure auction 50 tons, 20 tons, the transaction rate is 40%.

Spot market: The domestic polyethylene market price fell
widely.
The opening price of the sales company has been reduced, ranging from 100-350 yuan / ton, the merchant's mentality is empty, upside down to find transactions, downstream more suspension of goods, market real atmosphere is poor
.
As of the noon close, the North China market fell 100-250 yuan / ton; East China market fell 50-200 yuan / ton; The South China market fell 50-350 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipt reported 135 lots, intraday - 45 lots
.
Main position: The top 20 long positions in the main contract are 228050 lots, +11634 lots, short positions are 266381 lots, +7389 lots, and net positions are -38331 lots, net space is reduced
.

Summary: Global central banks have continued the strategy of quantitative easing, which has provided some positive support to economic and market confidence, but the boost effect has been limited
.
The OPEC+ joint production reduction agreement failed to exert a strong positive effect this week, the market questioned that the scale of production cuts may not cover the scale of the demand recession, the current epidemic in Europe and the United States has not yet reached the peak, the IMF also lowered the global GDP growth forecast this week, from the previous 3.
3% to -3%, these factors have weighed on
market confidence.
In the industrial chain, but the trend of crude oil is weak, and the current downstream demand has weakened
.
The demand for agricultural film is basically over, the demand for shed mold has not yet begun, the demand for packaging film is basically stable, and after the sharp rise in the price in the early stage, the spot market transaction has been greatly reduced, indicating that the downstream high price is not very willing to take goods, these factors have formed a certain pressure
on the price.