Plastic (polyethylene) Futures weeks assessment (March 15? 19)
HC plastic mesh : Dalian last week Plastic Futures rebound fatigue, followed by shock down. 1005 main contract which opened 11,330 yuan / ton, up 11,330 yuan / ton, minimum 10,835 yuan / ton to close at 11,245 yuan / ton, down 85 yuan, or 0.75%. Although the petrochemical industrialists took the opportunity to increase exploratory listed, but the absence of scale, and international oil prices shocks, LLDPE The road rally is still heavy resistance.
The New York Mercantile Exchange (NYMEX) crude oil futures closed lower on the 19th, because interest rates in India and around the European Union (EuropeanUnion) how to solve the debt problems of Greece fears prompted investors to underweight high-risk positions. New York Mercantile Exchange, April light, sweet crude contract settled down 1.52 dollars to 80.68 U.S. dollars a barrel, down 1.9%. April crude oil futures contract will expire on 22. May crude oil futures contract trading volume enormous, the contract fell 1.57 U.S. dollars to 80.97 U.S. dollars a barrel, down 1.9%. ICE Brent crude futures contract fell 1.64 U.S. dollars to 79.84 U.S. dollars a barrel, down 2%.
Ethylene monomer Asian market as a whole to maintain a downward direction, closing Thursday's close, CFR Northeast Asia, the price closed at 1,143.5-1,145.5 U.S. dollars / ton, CFR Southeast Asia, the price closed at 1,105.5-1,107.5 U.S. dollars / ton, four from last week (March 11) fell by an average 6 USD / ton. Singapore Shell Thursday began an annual capacity of 800,000 tons of feed cracker, industry sources said this is the third attempt to launch Shell cracker. If the device is stable, Singapore ethylene increased supply may lead to changing patterns of supply and demand in the Asian market.
In international oil prices continuing to rise in the boost, some petrochemical factories taking advantage of the lower price listed price increase, but up only slightly, and still below the high-end factory pricing. It can be seen that the position is not strong petrochemical manufacturers. And the current inventory is too large petrochemical manufacturers, distributors, performance is not positive. Downstream demand is only slightly improved, low-cost factories tend to supply procurement intentions, high-end spot market transaction price is not ideal.
Statistical data, in February 2010 China PE Total output of 72.2 million tons, compared to 698,000 tons in January grew by 2.4 million tons, an increase of 3.4% in the chain. Over the same period in 2009, 617,000 tons 10.5 million tons, an increase of 17%. China 2010 1-2 months PE Cumulative production of 1.42 million tons, compared with 1.225 million tons over the same period in 2009 increased by 19.5 million tons, an increase of 15.9%. As can be seen from the above data, the commissioning of new facilities with domestic manufacturers and the petrochemical plant to the smooth operation of production to maintain a growth trend in domestic PE. Therefore, weak demand and the supply of abundant, L LDPE The overall bearish market fundamentals, short-term resistance to rebound more.
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