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Trade Service
On Monday, February 10, Liansu L2005 contract was narrowly sorted, and the futures price closed at 6825 yuan / ton, +15 yuan from the previous trading day; Volume 93216 lots, -1841 lots; Position 307698 lots, +2567 lots, basis 175 yuan, -65 yuan; 5-9 spreads - 155 yuan, +15 yuan
.
News: As of the week of February 7, China's polyethylene production totaled 369,200 tons, a year-on-year decrease of 3.
31% from last week, and low pressure, high pressure and linear were reduced, with reductions of 4100, 2700 and 5800 tons
respectively.
Among them, the weekly output of oil-to-polyethylene was 274,500 tons, down 2.
66%
from last week.
The weekly output of coal-to-polyethylene was 94,700 tons, down 5.
11%
from last week.
Shenhua coal chemical linear intraday auction volume of 650 tons; The transaction volume was 0 tons, the high-pressure bidding volume was 373 tons, the transaction was 0 tons, and the low-pressure bidding volume was 150 tons, and the transaction volume was 0 tons
.
Spot market: The domestic polyethylene market continues to decline
.
Most of the prices of sales companies continue to be stable, but due to logistics obstruction, the current resource circulation is difficult, merchants' shipments are not smooth, and the offer continues to decline
.
As of the noon close, the North China and East China markets fell 50-100 yuan / ton; East China was 50-150 yuan / ton lower, and the South China market was 50 yuan / ton lower
.
Warehouse receipt inventory: exchange warehouse receipts reported 2622 lots, intraday -120 lots
.
Main position: The top 20 long positions in the main contract are 173361 lots, +1102 lots, short positions are 227361 lots, +48 lots, and the net position is -54000 lots, with a decrease
in net shorting.
Summary: The inventory of domestic polyethylene enterprises has risen sharply, and petrochemical enterprises have mainly reduced prices and promoted inventory, and spot prices have fallen
.
In the spot market, Shenhua polyethylene online auctions are all streamed, showing that downstream demand is sluggish, and traders and demanders have no willingness to
purchase.
In terms of demand, affected by factors such as sluggish downstream demand and low resumption rate of enterprises, downstream demand is expected to remain sluggish
this week.
The polyethylene market is still under high supply pressure
.
