echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > Petrochemical News > Fuel oil bears still dominate

    Fuel oil bears still dominate

    • Last Update: 2022-11-15
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Last Friday (October 28), the fuel oil futures 2301 contract showed a trend
    of shrinking and reducing positions and rebounding slightly.
    During the session, the center of gravity of the futures price moved slightly up to run above the 2650 yuan / ton mark, and closed slightly up 0.
    94% to 2673 yuan / ton
    .
    Futures 2301 contracts fell sharply by 41,202 contracts to 454815 lots, a decrease of 8.
    31%.

    The data of the top 20 positions on the exchange long and short position ranking shows that the futures 2301 contract position shows a scene of long and short double reduction
    .
    Among them, the bulls reduced their positions by a total of 19186 lots to 261719 lots; The total number of short positions was reduced by 24470 lots to 292241 lots
    .
    As the total number of short orders reduced by the main short force exceeded the total number of long orders reduced by the main force of the long position, the net short position was narrowed to 30522 lots
    .

    Specifically, among the top 20 bulls, 16 seats have reduced their holdings
    .
    Among them, 1 company with a reduction of more than 5,000 lots is a seat for Guotai Junan Futures, a significant decrease of 7,305 lots
    .
    In addition, there were 8 companies with a reduction in holdings between 1,000 and 5,000 lots, namely Orient Futures seats, Oriental Wealth Futures seats, Everbright Futures seats, Huawen Futures seats, Zheshang Futures seats, Founder medium-term futures seats, Huishang futures seats and Huaxi Futures seats, which decreased by 3359 lots, 2490 lots, 1717 lots, 2975 lots, 1780 lots, 1156 lots, 1123 lots and 2588 lots
    , respectively.
    The remaining 7 companies have reduced their holdings by less than 1,000 lots
    .

    Among the top 20 bears, 16 seats reduced their short orders
    .
    Among them, 1 company with a reduction of more than 5,000 lots was a seat for Guotai Junan Futures, a significant decrease of 8,158 lots
    .
    In addition, 7 companies reduced their holdings between 1,000 and 5,000 lots, namely CITIC Futures, Orient Futures, SDIC Anxin Futures, Everbright Futures, Yongan Futures, GF Futures and Huawen Futures, which decreased by 4,503, 1,012, 1,158, 1,689, 1,497, 4,433 and 2,642 respectively
    .
    The remaining 8 companies have reduced their holdings by less than 1,000 lots
    .

    It is worth noting that 2 of the top 20 seats in the long-short leaderboard on the day carried out multi-flip operations
    .
    Oriental Wealth Futures increased its holdings by 74 short orders while reducing its holdings of 3359 long orders, and Xinhu Futures increased its holdings by 518 short orders while reducing its holdings of 745 long orders
    .
    This shows that the above seats lack confidence in the continued rebound of the future futures price, and the backhand layout is short.

    There are 3 seats that use the flip multi-operation
    .
    CITIC Futures increased its holdings by 786 lots while reducing 4503 short orders, Galaxy Futures increased its holdings by 3334 lots while reducing 626 short orders, and Yongan Futures increased its holdings by 2100 lots while reducing its holdings of 1497 short orders
    .
    It indicates that the momentum of the above seats to continue to short is weakened, and there is room for
    the futures price to continue to rebound.

    Last Friday, among the top 20 seats in the long and short ranking of fuel oil futures 2301 contracts, the total number of short orders reduced by the main bears exceeded the total number of long orders reduced by the main bulls, resulting in a narrowing of the net short position to 30,522 lots, indicating that the main bears still occupy a certain advantage
    .
    The author expects that the 2301 contract of fuel oil futures in the future market is still under pressure, and there is a risk
    that the futures price will continue to fall.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.