Even plastic shrinkage reduced positions slightly higher, short-term trend turned stronger

News: 1.
In June 2020, China imported a total of 1,829,700 tons of PE, up 183,300 tons, or 11.
14%, and 578,700 tons, or 46.
26%,
over the same period last year.
From January to June 2020, China imported a total of 8.
6978 million tons of PE, an increase of 564,700 tons or 6.
94%
over the same period last year.
In June 2020, domestic PE exports were 18,300 tons, down 03,300 tons, or 15.
47%, and 00,300 tons, or 1.
61%,
year-on-year.
From January to June 2020, domestic exports totaled 128,600 tons of PE, an increase of 14,000 tons or 1.
09%
over the same period last year.
From the above data, it can be seen that domestic PE imports began to bottom out in April and have now hit a new high
in the same period of the past year.
2.
Shenhua Coal Chemical Industry Shenhua Baotou linear intraday bidding volume of 950 tons, the previous day's bidding volume of 1150 tons, intraday trading volume of 600 tons, the previous day's trading volume of 820 tons
.
Shenhua low-pressure intraday bidding volume was 350 tons, the previous day's auction volume was 350 tons, the intraday trading volume was 193 tons, and the previous day's trading volume was 222 tons
.
Yulin High Pressure intraday bidding volume was 82.
175 tons, the previous day's auction volume was 82.
18 tons, the trading volume was 49 tons, and the previous day's trading volume was 20 tons
.
Xinjiang high-pressure intraday bidding volume is 50 tons, the previous day's bidding volume is 50 tons, the intraday trading volume is 50 tons, and the previous day's trading volume is 20 tons
.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 7100 yuan / ton, -0
.
Warehouse receipt inventory: warehouse receipt 328, -5
.

Main positions: the top 20 long positions 171368, +249, short positions 169360, +96
.
Net increase
.

Summary: Crude oil maintains a high volatility pattern, which forms a certain support
for chemicals.
Fundamentally, there are still many PE devices in China under maintenance, port inventories remain at a historically low level, and two barrels of oil and petrochemical inventories are also lower than the same period last year, indicating that the sales pressure of production enterprises is not large, and these factors are expected to have some support
for prices.
Operationally, investors can hold long positions with caution
.