Since late June, driven by rising costs and warmer demand, plastics futures have emerged from a strong rebound, technically close to the upper edge of the downtrend channel, and prices have reversed. As plastics futures face the main force for the moon, the following The 1809 contract and the 1901 contract are analyzed together.
In terms of volume, as of July 20, the volume of plastics futures was 199012 lots, a decrease of 146,356 lots compared with the rebound on June 22, a decrease of 42.38%. At the same time, the position was 506,038 lots, compared with June 22 The decrease was 119,724 lots, a decrease of 19.13%. From the data point of view, the increase in plastic prices was accompanied by a decline in the volume, which indicates that the bulls are taking profits, and the price increase continues to be uncertain. In addition, the turnover rate is 39.33%. Compared with June 22, it decreased by 15.86 percentage points, and the trading activity dropped significantly.
Specifically, on the position of the main seat, on July 20, the position of the top 20 seats in the plastics futures was 156,996 lots, the position of the top 20 seats in the short position was 175,912 lots, and the net open position was -18,916 lots. On the day, the long position of the top 20 seats was 187,362 lots, the position of the top 20 seats was 209,290 lots, and the net long position was -21,928 hands. The short position was weakened, but not obvious.
In terms of warehouse receipts, the number of plastic futures warehouse receipts was 284 contracts, which was 0.06% of the positions held. The impact of spot selling on futures prices was basically negligible.
In terms of capital, due to the sharp decline in transaction volume, the turnover of plastics futures also fell sharply. As of July 20, the turnover was 9.267 billion yuan, a decrease of 6.184 billion yuan from June 22, a decrease of 40.02%. However, thanks to As the price rose, the stock of plastic futures deposits showed an upward trend. The stock of funds was 11.934 billion yuan, an increase of 2.867 billion yuan compared with June 22, an increase of 31.62%.
On the whole, although the price of plastics has risen well recently, due to the volume of transactions, the volume of positions has declined, the amount of increase is insufficient, and there is continuous doubt. In addition, the price is close to the pressure level, and the probability of recent correction is greater.