The main force of Liansu fell slightly, and there is a risk of technical correction in the short term

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
downward.
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.
1%
week-on-week.
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
for LLDPE.
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.