Liansu strong finishing and holding more orders cautiously

News: The PE inventory of domestic polyethylene enterprises (oil + coal) fell this cycle, down 7.
38%
from last week.
In terms of varieties, LDPE inventory decreased by 13.
77% compared with last week; HDPE inventories rose 1.
56% from last week; LLDPE inventories fell 13.
25%
month-on-month.
Among them, the total inventory of PE of two barrels of oil declined, with a week-on-week decline of 9.
91%.

Sinopec's PE inventory decreased by 20.
96% from last week; CNPC PE inventories fell 5.
63%
from last week.
PE inventories of coal-based enterprises fell slightly, down 0.
35%
week-on-week.
The sample traders' PE inventories rose by 3.
33%
week-on-week.
The two oil stocks were 695,000 tons, down 30,000 tons
from the previous day.

Shenhua Coal Chemical Industry Shenhua Baotou linear intraday bidding volume of 750 tons, previous day's bidding volume of 950 tons, intraday trading volume of 750 tons, last day's trading volume of 720 tons
.
Shenhua low-pressure intraday bidding volume was 380 tons, the previous day's auction volume was 410 tons, the intraday trading volume was 249 tons, and the previous day's trading volume was 246 tons
.

Spot market: The price of domestic polyethylene market is mixed
.
The sales order opening part of the main region was raised by 50-100 yuan / ton, linear futures rose, the market quotation was adjusted with it, some high-priced sources fell slightly, the downstream high-price resistance was obvious, cautious wait-and-see was the mainstay, and the real transaction was general
.
As of the noon close, the North China market was adjusted by 50-150 yuan / ton, and the East China/South China market was adjusted by 50-100 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 270 lots, intraday -0 lots
.

Main position: The top 20 long positions in the main contract are 261626 lots, +3392 lots, short positions are 263124 lots, +3786 lots, and net positions are -1498 lots, net short increases
.

Summary: The overseas epidemic has eased, the deregulation of many countries has boosted market confidence, major oil producers have extended the production reduction period, and EIA has raised crude oil demand expectations to support
the market.
Fundamentally, the significant increase in cracker production in Asia in June is expected to weigh on
ethylene prices.
The operating rate of downstream enterprises fell slightly, which is expected to also put a certain pressure
on prices.
However, the maintenance volume of domestic PE equipment in June increased compared with May, and the recent shutdown and maintenance of the equipment may reduce the market supply
.
The rally is expected to continue
.
In terms of operation, investors can set a take profit in their hands and hold
them cautiously.