The market atmosphere is weak, and the main force of Liansu fluctuates lower

News: The PE inventory of domestic polyethylene enterprises (oil + coal) fell this cycle, with a week-on-week decrease of 11.
06%.

Among them, the total inventory of PE of two barrels of oil continued to decline, down 12.
22%
from last week.
Sinopec's PE inventory decreased by 17.
31% from last week; CNPC PE inventories fell 10.
22%
from last week.
The PE inventory of coal enterprises fell by 7.
44%
week-on-week.
Trader PE inventories edged up 0.
10%
from last week.

Spot market: The domestic polyethylene market atmosphere is weak, and the trading center of gravity has shifted
downward.
The sales company has not much inventory, most of the prices are stable, linear futures are falling, the spot market merchants are cautious, the offer part is down, but the downstream consumes more inventory, and the goods are light
.
As of the noon close, the North China market was narrowly adjusted around 50 yuan / ton; East China market fell 50-100 yuan / ton; The South China market fell by around 50 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 3112 lots, +0 lots
within the day.
Main position: The top 20 long positions in the main contract are 175582 lots, +2353 lots, short positions are 259009 lots, +6435 lots, net positions are -83427 lots, net space increases
.

Summary: Fundamentally, the average operating rate of polyethylene companies has fallen
from last week.
The total polyethylene production of domestic enterprises decreased
from last week.
PE market supply is still expected to decrease
slightly.
The two oil inventories continued to fall, indicating that there is little pressure on the market supply
.
The overall operating rate of agricultural film enterprises was 39.
3%, +2.
7%
week-on-week.
The operating rate of shed film enterprises was about 39.
1%, +3.
5%
month-on-month.
The operating rate of mulch film enterprises was 39.
9%, +1.
0% week-on-week, and the overall operating rate of packaging film was 71.
8%, +1.
5%
week-on-week.
At present
, packaging film enterprises are in high-load production before the holiday.
However, downstream companies began to stop work for the holiday, demand may weaken, and factory inventory accumulated
during the Spring Festival.
Therefore, the subsequent continuation of weak volatility is the mainstay, operationally, it is recommended that investors hold short orders in their hands with caution
.