The price of continuous plastic futures will be lowered and higher, and the range shock pattern will be maintained in the later stage

News: 1.
Longzhong Information reported on November 3: Shenhua low-pressure intraday bidding volume of 270 tons, the previous day's bidding volume of 200 tons, intraday trading volume of 120 tons, the previous day's trading volume of 100 tons
.
Xinjiang high-pressure intraday bidding volume is 50 tons, the previous day's bidding volume is 50 tons, the intraday trading volume is 50 tons, and the previous day's trading volume is 0 tons
.
2.
According to Longzhong estimates, the estimated output of polyethylene in November was 2.
1275 million tons, +70,700 tons compared with the actual output of the previous month and +346,500 tons
over the same period last year.
Among them, due to the resumption of production of Shenhua Baotou and Jiutai plants, the supply of coal-to-polyethylene products increased in November, and it is expected that the output of coal-to-polyethylene in November will be about 460,000 tons, an increase of 13.
3% over October and 5.
3%
higher than the average for the year.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 8900 yuan / ton, -0 yuan
.

Warehouse receipt inventory: 4077 warehouse receipts, -160 sheets
.
Main positions: Top 20 long positions 165924, +453; short positions reported 162793, +169
.
Net increase
.

Summary: The average operating rate of domestic polyethylene enterprises last week was 84.
21%, down 0.
3% compared with the operating rate of 84.
51%
last week.
Polyethylene production was 461,600 tons, up 02,100 tons
from 45.
95 tons last week.
In the later stage, pay attention to the production progress
of Zhejiang Petrochemical and Luqing Petrochemical.
The operating rate of downstream enterprises reported 55.
6%, +1.
1%
from the previous week.
Among them, the operating rate of agricultural film, packaging film and hollow enterprises has increased, but the operating rate of injection molding has declined, and it is still in the peak season of demand for shed film, but the start is limited and the peak season is not strong
.
In November, the demand for shed film will gradually weaken, and only a few enterprises have started construction of mulch film, and it is expected that downstream demand will be difficult to recover
significantly.
This week, inventories by producers have decreased from the previous week, indicating that there is little pressure on the supply side
.
The intraday L2201 contract tested lower and higher, indicating that there is still some support
below.
It is expected that the range-bound pattern
will be maintained in the later stage.