Benefiting from the expected enhancement of domestic methanol port inventory depletion, while downstream demand is expected to improve steadily, bullish fundamentals boosted the main bulls to push up futures prices. The main bears knew they were lost and took the initiative to retreat. Last week, the domestic methanol 2101 contract showed an upward trend of heavy volume lightening, and the futures price hit a new high of 2058 yuan/ton since March this year.
In the past week, the open interest of the methanol futures 2101 contract showed a trend of first increasing and then decreasing. Among them, the top 20 long and short positions were significantly lightened. The data shows that the open interest of the top 20 long positions decreased from 627,620 hands on August 28 to 621,026 hands on September 4, a cumulative decrease of 6,594 hands; the open interest of the top 20 short positions decreased from 819,244 hands on August 28 Reduced to 792,477 hands on September 4, a cumulative decrease of 26,767 hands. Due to the optimistic fundamentals of methanol, despite the impact of macro-negative risks last Friday, the long-term counterattack was obvious, and the main short-term players were forced to choose to withdraw. As a result, the net short positions of the top 20 long and short positions have dropped significantly. Data show that the net short position of 2101 contracts decreased from 191,624 lots on August 28 to 171,451 lots on September 4, a net reduction of 20173 lots, a decrease of 10.53%.
Specifically, among the top 20 short positions, 13 seats were reduced and 7 seats were increased. In terms of reductions, the number of shares held by the East Securities Futures and Haitong Futures was the top one, decreasing by 25,453 and 11,253 hands respectively. At the same time, Shenyin Wanguo Futures Seats, Galaxy Futures Seats, Guotai Junan Futures Seats, Zheshang Futures Seats, Guantong Futures Seats, Everbright Futures Seats, Soochow Futures Seats, COFCO Futures Seats and SDIC Anxin Futures Seats are also reduced in number. , Reducing 1476 hands, 8574 hands, 1044 hands, 117 hands, 6058 hands, 369 hands, 1438 hands, 197 hands and 603 hands respectively. In terms of increase in holdings, Huawen Futures ranked first in the number of holdings, a substantial increase of 11,596 hands. At the same time, Yongan Futures, CITIC Futures, Huatai Futures, Xinhu Futures, Donghai Futures and Zhonghui Futures seats also increased their holdings by a large number, increasing by 3005, 7,848, 686, 6190, and 3298, respectively. And 5011 hands.
Among the top 20 long positions, 8 have reduced their holdings and 12 have increased their holdings. In terms of holding reductions, the number of holdings of Dongzheng futures seats was among the top, with a substantial reduction of 25,395 hands. At the same time, the number of Haitong futures seats, Yongan futures seats, Donghai futures seats, CITIC Construction Investment futures seats and Guantong futures seats also decreased, which decreased by 8212, 2821, 319, 2131 and 7397, respectively. In terms of increase in holdings, Huawen Futures ranked the top in the number of holdings, a substantial increase of 11,118 hands. At the same time, CITIC Futures Seats, Huatai Futures Seats, Xinhu Futures Seats, Zhonghui Futures Seats, Guotai Junan Futures Seats, Guofu Futures Seats, Everbright Futures Seats, Founder Interim Futures Seats, Hongyuan Futures Seats, Yide Futures Seats and Galaxy Futures Seats The number of holdings was also higher, increasing 5954 hands, 2231 hands, 7057 hands, 6203 hands, 933 hands, 2257 hands, 1625 hands, 4973 hands, 1827 hands, 1330 hands and 167 hands respectively.
Through analyzing the changes in holdings, it is found that among the top 20 long positions in the methanol 2009 contract last Friday, not only the number of short positions reduced than long positions, but the total number of reductions is also much higher than that of long positions, and some of the main seats showed a lot of flips. Galaxy Futures and Guotai Junan Futures are more obvious. In the context of the major short-stakes collapse and the decline in net short positions, the methanol 2101 contract is expected to continue its strong trend.
Source: Chemical Network
