PP Zhou Comments: plastics market correction continued lack of support
I. Summary of upstream raw materials a week Trend of international crude oil a week
WTI crude oil closed this week interval 51.12-56.34 U.S. dollars / barrel, Brent crude closed interval 50.80-56.15 U.S. dollars / barrel. International crude oil prices this week, up 50 dollars, the main factors: new investment fund on the market, the stock market rose less than expected increase in U.S. crude inventories.
Crude oil futures ended slightly higher, Chrysler (Chrysler) filed for bankruptcy protection in the news weighed on investors Economy Rapid recovery is expected. Friday rebounded to settle at more than 53 dollars per barrel, the highest six-week high. Substantial new investment fund on the market and market demand season for gasoline is expected to push oil prices higher.
Monday the New York Mercantile Exchange crude oil futures prices rose to new highs during the year 2009, due to Oil Traders will be substantial increase in the stock market as a harbinger of stronger demand. Tuesday prices hit a high point after the fall, due to be published later this week's economic data, has the potential to investors and rapid economic recovery hopes. Wednesday rose more than 4%, 56 dollars a barrel, closing at nearly six high. Government data showed U.S. crude oil inventories increased less than expected, gasoline inventories fell, while the number of corporate layoffs than expected, encouraging oil prices.
Algeria Energy Minister ChakibKhelil Wednesday said that if oil prices continue to rise, and the economy continued to experience good news, then I think the O PE C will not be further cut. Saudi national oil company, or Saudi Aramco oil company officials said the Saudi daily oil production within the next few months will likely remain at 800 million barrels below the level. Propylene market overview
Far East Buyers of their products can remain at the current price level, lack of confidence, so the price of propylene pressure. Such as drawing / injection Polypropylene In the past week the price fell 10 U.S. dollars / ton, Thursday closed at 1,095 U.S. dollars / ton CFR. About 5-6 million tons of ocean cargo shipped to the Asian market polypropylene way, the Chinese importer as in June this negative factor in the market. In addition, the onset of the Western Hemisphere swine flu outbreak reminiscent of the beginning of the end of 2002 -2 003 SARS epidemic in China has been swept.
The buyer can not be sure of their ability to deliver propylene prices decline, so the market more and more cautious. CFR Taiwan / China prices have fallen from 22.5 to 842.5 U.S. dollars / ton CFR, Southeast Asia, decline in value from 10 to 810 U.S. dollars / ton CFR. Decline in value of FOB Korea USD 10 / t to 842.5 U.S. dollars CFR. South Korean manufacturers tend to not be within the retained propylene Sell To the market, the local stock supply. North Asian propylene market, the main buyers – Japan, into the Golden Week holiday this week, next Thursday is expected to return. Southeast Asia, becoming the buyer to purchase intention or because the majority of buyers in March -4 ocean cargo during the month has been ordered, so no need to purchase stock of propylene.
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