The hottest LLDPE rebound is difficult to sustain,

2022-08-13
  • Detail

LLDPE rebound is difficult to sustain, and the aftermarket is still facing downward pressure

first, Market Review

LLDPE futures hit the bottom at the 10000 yuan level after a sharp decline on Monday, and then fell into a volatile market. The main contract l1009 opened at 10500, with an intraday high of 10545 and a low of 9970. It closed at 10235 at the end of the day, down 455 points, or 4.26%. The trading volume increased by 358 hands to 1611000 hands, and the position decreased by 8660 hands to 92374 hands

II. Market analysis

1. The chart of international crude oil

shows the trend of international crude oil futures prices. (picture source: CSC futures)

due to the market's concern that the future fiscal tightening measures implemented by euro zone countries may inhibit the economic growth of the euro zone, investors who previously bought crude oil futures in anticipation of the steady recovery of the global economy have switched to US dollars. ABS is also on the back of the TV. International crude oil fell this week, falling below the integer level of US $70. Although the oil price rebounded slightly in the middle of the week driven by the Federal Reserve's upward revision of the U.S. economic forecast, the market did not show obvious signs of bottoming, and crude oil continued to decline after the date change on Friday. With the continuous increase of Cushing crude oil inventory in the United States and the increase of OPEC shipping exports near the peak demand season in summer, it is expected that the pattern of near weak and far strong crude oil in the future will continue

2. Asia ethylene

Asia ethylene both fell sharply this week and now closed at 1098 US $25/ton CFR Northeast Asia and 1102 The collaborative operation of different parts was $104.25/t CFR Southeast Asia, down $195 and $148 respectively from the previous week. At the beginning of the week, affected by the continued weakness of oil prices, ethylene in Asia both fell slightly, and the market negotiation atmosphere fell into a downturn. Near the weekend, affected by the immediate offer of Iran, the market atmosphere fell sharply. A 4500 ton Iranian spot is first offered to Taiwan at US $1170/ton CFR Taiwan, and the ship will be loaded at the end of this week or early next week. Subsequently, Japanese traders also lowered their offer to US $1200/ton CFR China/Taiwan, but end users are more confident about the transaction price in US dollars/ton CFR Taiwan/China, and finally there is no actual transaction heard. The ethylene market in Asia may continue to decline in the future

supply high-quality silicone extruded medical catheter with a shorter supply cycle Asian ethylene price one week quotation

region

May 14

May 17

May 18

May 19

May 20

May 21

CFR Northeast Asia

1293.25

-1295.25

1283.25

-1285.25

1283.25

-1285.25

1278.25

-1280.25

1193.25

-1195.25

1098.25

-110 0.25

cfr Southeast Asia

1250.25

-1252.25

1245.25

-1247.25

1245.25

-1247.25

1235.25

-1237.25

1160.25

-1162.25

1102.25

-1104.25

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and it does not mean that all the production processes are completely automated, which means to agree with its views or confirm the authenticity of its content

Copyright © 2011 JIN SHI