Lianplastic low-level oscillation finishing It is recommended to wait and see for the time being

As of May 10, Shanghai port inventory was 297,200 tons, Huangpu port inventory was 81,000 tons, Tianjin port inventory was 62,100 tons, the total was 440,300 tons, up 40,800 tons
from before May Day.

Spot market: the domestic polyethylene market continues to be weak, the opening price of the main regional sales company is lowered, the cautious mentality of merchants has not changed, the offer continues to fall, the downstream wait-and-see is the mainstay, and the market is light
.
As of the morning close, prices in North China, East China, South China and Southwest China fell by
50-300 yuan / ton.

Warehouse receipt inventory: exchange warehouse receipts reported 2513 lots, intraday +701 lots
.
Main positions: the top 20 long positions in the main contract are 197147 lots, 7004 lots, short positions are 250042 lots, 7822 lots, net long positions are -528950 lots, and short positions have increased more
.

Summary: The Sino-US trade war continues to ferment, the market avoidance sentiment, coupled with the gradual increase in PE petrochemical inventory pressure, insufficient market confidence, weak demand, enterprises continue to reduce factory prices, but the basis has short-term repair demand or limit its downward momentum
.
Technically, the L1909 contract fluctuates at a low level, the MACD indicator opens downward, the KDJ indicator is in the overbought zone, the upper moving average shows a short arrangement, and the short-term futures price continues to maintain a low volatility finishing
.
Operationally, it is recommended to wait and see
for the time being.