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On Thursday, February 13, Liansu L2005 contract was sorted out in a narrow range, and the futures price closed at 6805 yuan / ton, -15 yuan from the previous trading day; Volume 131907 lots, +17510 lots; Position 313235 lots, +3765 lots, basis 45 yuan, +15 yuan; 5-9 spread - 155 yuan, +5 yuan
.
News: Shenhua coal chemical linear intraday bidding volume of 600 tons; The transaction volume was 0 tons, the high-pressure auction volume was 423 tons, the transaction volume was 0 tons, and the low-pressure bidding volume was 450 tons, and the transaction volume was 21 tons
.
On February 13, the petrochemical inventory of "two barrels of oil" was 1.
54 million tons, an increase of 25,000 tons from the previous day, 455,000 tons higher than the same period last year, and the PE inventory of domestic polyethylene enterprises (oil + coal) in this cycle continued to rise, up 31.
51%
from last week.
Two barrels of total oil PE inventories continued to rise, up 31.
0%
from last week.
Among them, Sinopec's PE inventory increased by 29.
64% from last week; CNPC PE inventories rose 31.
90%
from last week.
PE inventories of coal-based enterprises rose 33.
15%
from last week.
Spot market: Domestic polyethylene market prices continue to decline
.
The inventory pressure of the sales company is large, and the opening price is mostly reduced, the range is 100-300 yuan / ton
.
Linear futures are weak, the spot market is trading sporadically, and the center of gravity continues to shift
.
As of the noon close, the North China market fell 50-100 yuan / ton; The East China market fell by 50-200 yuan / ton, and South China fell by 100 yuan / ton
.
Warehouse receipt inventory: Exchange warehouse receipt reported 2530 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 174360 lots, +2137 lots, short positions are 230227 lots, +468 lots, and the net position is -55867 lots, with a decrease
in net shorting.
Summary: The inventory of domestic polyethylene enterprises continued to rise significantly, petrochemical enterprises mainly reduced prices and promoted inventory, and spot prices fell
.
In the spot market, Shenhua Polyethylene online bidding commodities are rarely traded, indicating that downstream demand is sluggish, and traders and demanders have no willingness to
purchase.
Affected by sluggish demand, the resumption rate of downstream enterprises is not high, and downstream demand is expected to remain sluggish
this week.
The polyethylene market is still under high supply pressure
.
Operationally, it is recommended that investors wait and see for the time being
.
