The futures price fell slightly

News: 1.
Longzhong information survey data shows that agricultural film production in September 2020 increased by 11.
4% year-on-year and 30.
8% month-on-month; From January to September 2020, the total output of agricultural film decreased by 5.
7%
year-on-year.
Agricultural film production in October 2020 is expected to increase by 1.
2% year-on-year and 16.
5%
month-on-month in September.
In the peak demand season for agricultural film in the fourth quarter, production is expected to continue to increase
.
2.
Longzhong Information reported on October 19: Two barrels of oil and petrochemical stocks were 815,000 tons, an increase of 100,000 tons
from last Friday.
3.
As of October 16, 2020, the total inventory of polyolefin samples in major domestic ports was 304,700 tons, up from last week, and also up 31,300 tons
from last year.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 7350 yuan / ton, +0 yuan
.
Warehouse receipt inventory: 968 warehouse receipts, -97 sheets
.

Main positions: Top 20 long positions 170637, -7665; short positions 181545, -5015
.
Increased
headroom.

Summary: After entering the middle and late October, PE has a new plant production plan, and the equipment for later maintenance is gradually reduced, and the decline rate of the two barrels of oil and petrochemical inventory after the holiday slows down, indicating that the market supply has increased
.
On the demand side, as the weather gradually gets colder, the demand for agricultural film in the north will recover, and the orders of BOPP companies will also increase steadily, indicating that downstream demand has recovered well, and these factors support
linear prices.
It is expected that the linear or will maintain the pattern
of range oscillation and downward shift of the center of gravity.
Operationally, investors should
operate in the range of 7350-7180.