The long and short sides are still in a stalemate, and the continuous plastic contract is strongly sorted out

News: As of early March, the resumption rate of agricultural film enterprises has reached more than 90%, and most of them are produced
according to orders.
Mulch film enterprises have less finished product inventory
.
The raw material inventory of agricultural film enterprises increased by 7425 tons from last week, +18.
22%
week-on-week.
The number of agricultural film resumption enterprises has increased, and the demand has increased
.
The purchase volume of some enterprises increased, and the inventory of agricultural film raw materials increased
slightly.

Shenhua coal chemical linear intraday bidding volume of 1100 tons; The trading volume was 799 tons, and the transaction rate was 72.
64%; The high-pressure auction volume was 238 tons, and the transaction volume was 98 tons, with a transaction rate of 41.
07%; The low-pressure bidding volume was 373 tons, and the transaction volume was 277 tons, with a transaction rate of 60.
86%; Xinjiang high-pressure bidding volume is 100 tons, the transaction is 40 tons, the transaction rate is 40%.

The PE inventory of domestic polyethylene enterprises (oil + coal) in this cycle was higher, up 7.
55%
from last week.
The total inventories of PE in the two barrels of oil rose 2.
21%
from last week.
Among them, Sinopec's PE inventory increased by 16.
58% from last week; CNPC PE inventories fell 5.
82%
from last week.
PE inventories of coal-based enterprises rose 19.
88%
from last week.
Trader PE inventories rose 6.
21%
from last week.

Spot market: The domestic polyethylene market is volatile and narrow.

Most of the opening prices of the main regional sales companies are stable, the attitude of merchants is wait-and-see, the offer is slightly adjusted, the downstream atmosphere is general, and the transaction of small orders is the mainstay
.
As of the noon close, the North China market adjusted around 50 yuan / ton; East China market adjustment 50-150 yuan / ton; The South China market is temporarily stable
.

Warehouse receipt inventory: exchange warehouse receipts reported 2348 lots, intraday - 4 lots
.
Main position: The top 20 long positions in the main contract are 164864 lots, -797 lots, short positions are 213590 lots, -612 lots, net positions are -48726 lots, net space increased
.

Summary: The accelerated spread of the overseas epidemic has caused market panic, and the absolute value of the two barrels of domestic oil and petrochemical inventories is still high, indicating that downstream demand has not fully recovered, which suppresses
linear prices to a certain extent.
However, the introduction of domestic stimulus policies has weakened the market panic, and the strong trend of crude oil has also supported PE to a certain extent, and the volume of Shenhua's online auction has rebounded significantly, indicating that the willingness to take goods downstream has increased
.
Overall, the two sides are still deadlocked, but market confidence has recovered, and the market is concerned about whether the pressure level of 7100 yuan can be broken
.