Market situation: On Wednesday, the main contract of Liansu L2001 fell slightly, and the futures price closed at 7250 yuan / ton, -40 yuan from the previous trading day; Volume 268588 lots, -46614 lots; Position 385342 lots, -20442 lots, basis 150 yuan, +20 yuan; 1-5 spread 25 yuan, -30 yuan
News: Dushanzi Petrochemical's December PE production schedule: low pressure is planned to produce about 95,000 tons, linear production is about 11,700 tons
Lanzhou Petrochemical's December production plan: high-pressure planned output of 18,000 tons, low-pressure planned output of 32,000 tons, linear planned production of 6,000 tons
Spot market: The center of gravity of the domestic polyethylene market has mostly shifted
The high-voltage part of the main regional sales company was raised, with a range of 50-100 yuan / ton, and the linear and low-pressure were mostly stable
Linear futures fell, merchants feared a fall mentality to ship more upside down, the market real center of gravity shifted, and the trading atmosphere was light
As of the noon close, the North China market adjusted 50-100 yuan / ton; The East China market is temporarily stable; The South China market narrowly dropped by 50-100 yuan / ton
Warehouse receipt inventory: exchange warehouse receipts reported 1081 lots, intraday -10 lots
Main position: The top 20 long positions in the main contract are 109873 lots, -9034 lots, short positions are 143274 lots, -6194 lots, net positions are -33401 lots, net short increases
Summary: The International Monetary Fund lowered the global economic growth rate in 2019 to 3%, the lowest growth rate in 10 years, and the sharp decline in crude oil hit market confidence, and the average operating rate of polyethylene enterprises last week was 89.
95%, an increase of 1.
35 percentage points week-on-week, and the total weekly output was reported at 361,000 tons, an increase of 05,400 tons
Market supply has increased
However, after entering late October, the demand for plastic agricultural film gradually rebounded, and the overall operating rate of agricultural film enterprises reported 42.
3% last week, and continued to rise slightly by 0.
And PE social inventories continued to fluctuate and fall, down 5.
21% week-on-week, while polyolefin inventories in major domestic ports also continued to fall, reporting 218,400 tons, down 04,000 tons from last week, and also lower than the same period last year
It shows that there is little supply pressure in the market, which has some support
Considering that the short-term gains have been large, it is expected that there is a risk
of a technical correction in the short term.