The upward trend of the plastic futures price is hindered, and there is still some pressure above

News: 1.
In October 2021, the output of domestic PE was reported at 2,056,900 tons, an increase of 138,200 tons, or 7.
20%, from September, and 232,400 tons, or 12.
74%,
higher than the same period last year.
From January to October, the cumulative domestic production of polyethylene was 19.
0735 million tons, an increase of 2.
6738 million tons over the same period last year, an increase of 16.
30%.

Due to the reduction of plant maintenance in November, Luqing Petrochemical's new plant was put into operation, and the domestic polyethylene output in November 2021 is expected to be 2.
1275 million tons, an increase of 70,600 tons, or 3.
43%,
from October.
2.
From January to October 2021, the import volume of domestic PE decreased significantly, but the export volume increased
significantly.
Data show that in October 2021, domestic imports of PE totaled 1.
0646 million tons, a decrease of 139,700 tons, an increase of -11.
60%, and -384,900 tons or -26.
56%
over the same period last year.
From January to October 2021, China imported a total of 12.
3263 million tons of PE, an increase of -18.
7%
over the same period last year of -2.
8358 million tons.
In October 2021, domestic PE exports were 32,800 tons, -13,700 tons, an increase of -29.
46%, and +12,000 tons, an increase of 57.
82%.

From January to October 2021, domestic exports totaled 44.
56 tons of PE, +232,900 tons over the same period last year, an increase of 109.
54%.

3.
In October 2021, the apparent consumption of PE in China rebounded month-on-month, but it was still lower than the same period last year
.
The data shows that in October 2021, the apparent consumption of domestic PE was 3.
0887 million tons, an increase of 0.
27% from +08,400 tons in September, and -385,700 tons, an increase of -11.
10%
compared with the same period last year.
From January to October 2021, the apparent consumption of domestic PE was 30.
9581 million tons, an increase of -2.
01%
over the same period last year of -634,900 tons.
From January to October 2021, the apparent consumption of domestic PE fell
significantly.

Market quotation: North China Daqing Petrochemical 7042 mainstream price is 9130 yuan / ton, +130 yuan
.

Warehouse receipt inventory: 2924 warehouse receipts, -0 sheets
.
Main positions: the top 20 long positions 167692, -9549; short positions reported 171459, -146
.
Net multi-turn net halo
.

Summary: The average operating rate of domestic polyethylene enterprises last week was 87.
61%, an increase of 0.
59% compared with the 87.
02%
operating rate last week.
The total output of polyethylene of domestic enterprises was 490,700 tons, an increase of 05,000 tons
from 48.
57 tons last week.
Increased market supply
.
The operating rate of PE downstream industries was 56.
0%, up 0.
1%
from last week.
Although this week is still in the peak season of shed film production, the demand for mulch film is light, and the demand for pipes has also entered the end, and the overall demand is expected to be basically stable
.
Last week, the PE inventory of domestic polyethylene enterprises (oil + coal) increased by 15.
17%
compared with last week.
Supply is expected to increase this week, demand is stable, and social inventories may continue to rise
.
The intraday L2201 contract encountered resistance to the upside, indicating that there is still some pressure
above it.