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Trading is dull, plastics continue to decline

Trading is dull, plastics continue to decline

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2021-10-30 11:32
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Trading is dull, plastics continue to decline

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2021-10-30 11:32
  • Views:
Information

Dalian Plastics Futures opened low and moved high on the 23rd. The main 1305 contract closed at 9880 yuan/ton, up 55 yuan. The recent performance of Liansu 1305 is relatively resilient, temporarily forming a short-term bottom at 9700. Geopolitical factors have affected the recent sharp fluctuations in crude oil. With the easing of the conflict, crude oil is still dominated by weakness in the later stage, while the fundamentals of continuous plastics are still weak, and the upstream cost factors continue to weaken. In the next few months, the commodity market is facing heavy pressure, and plastics will continue to decline in the later period. The price of crude oil on the New York Mercantile Exchange (NYMEX) rose on Friday amidst thin trading, as new demonstrations in Egypt reignited supply concerns, and investors were optimistic about the Greek financial aid talks, bringing additional support to the oil market. Crude oil rose 0.90 U.S. dollars and settled at 88.28 U.S. dollars per barrel. Brent crude oil rose 0.83 U.S. dollars and settled at 111.38 U.S. dollars per barrel. The International Monetary Fund's attitude towards the issue of relief funds to Greece is loose. The EU finance ministers are scheduled to meet again on the 26th to discuss the rescue of Greece. In terms of economic data, Germany’s business confidence index unexpectedly rose in November, breaking the six-month decline, alleviating market investors’ concerns about the largest economy in the euro zone, and effectively boosting the market. The strong "Black Friday" sales in the United States have strengthened investors' confidence in the corporate earnings environment and helped rise in oil prices. Spot market: 1. PE market The PE market continues to weaken slightly, with a relatively obvious high pressure drop. Futures opened slightly higher and then sorted out within a narrow range. Merchants kept their sluggish mentality and more actively let the profits take advantage of them to find deals. Downstream demand is hard to pick up, still mainly wait-and-see, the intention to receive goods is not strong, and firm deals are deserted. Mainstream price: LDPE: RMB 11,050-12,000/ton, LLDPE: RMB 10,850-11,400/ton, HDPE: wire drawing material: RMB 11,100-11,400/ton, injection molding material: RMB 1,0800-11,500/ton, film material: RMB 1,1000-12,000/ton, The hollow material is 11400-12300 yuan/ton. Today's LLDP market trend is stable, the listing situation is basically stable, and the number of listings has not changed much earlier. The mentality of traders stabilized, and the market outlook tended to wait and see. In terms of quotation, stability was mainly maintained, and some brands rose and fell slightly. The HDPE market fluctuated down steadily, and the trend was significantly weaker earlier. The listing situation was slightly adjusted, and the number of listings increased individually earlier. Traders' mentality is slightly loosened, market confidence is insufficient, and the market outlook is partly bearish. In terms of quotation, the price is stable and slightly lowered mainly. 2. The PP market As the news has no clear direction, and the weekend is approaching, downstream demand is weak. Most traders have a poor mentality and continue to actively seek shipments. The main quotations are weak and downward. At present, the domestic wire drawing/injection plastic is 10950-11650 yuan/ton, the domestic copolymer material is 11750-12600 yuan/ton, the imported copolymer material is 11,600-12800 yuan/ton, and the monofilament powder is 11,300 yuan/ton. Today, the PP market continues to decline steadily, the market trend is sluggish, the listing situation is basically stable, and the number of listings has not changed much earlier. Traders' mentality is shaken, and the market outlook is generally bearish. In terms of quotation, the price is stable and slightly lowered mainly. 3. The PVC market has no favorable support, and the PVC market maintains a weak consolidation pattern, and individual quotations have weakened. Merchants are more cautious to follow the goods, downstream demand is sluggish, and overall trading remains stalemate. At present, the mainstream price of ethylene material is 6800-6900 yuan/ton, and the mainstream price of 5 type calcium carbide is 6800-6900 yuan/ton. The actual transaction can be negotiated. Today's PVC market performance is basically stable, the listing situation is stable, the mentality of traders is relatively relaxed, and the quotations are stable and small. 4. ABS market The ABS market is operating smoothly. There is no change in market quotations. Traders still choose to actively ship goods and seek real deals. There is still no substantial improvement in the demand of downstream factories, more purchases on demand, a strong wait-and-see mentality. At present, the latest domestic ABS mainstream quotes are 14500-15500 yuan/ton, and imported ABS mainstream quotes are 15000-18200 yuan/ton. Today's ABS market trend is stable, the listing situation has not changed much, and the number of listings is basically stable earlier. Traders have a stable mentality and a strong wait-and-see atmosphere in the market. Most of the quotations remained stable, and individual brands rose slightly. 5. PS market The PS market continued its flat trend yesterday. Due to the lack of downstream demand, market transactions are difficult to fundamentally improve. However, most petrochemical quotations remain stable, and some resources are still tight, which supports the market. At present, the latest GPPS mainstream quotation is 1,3000-13600 yuan/ton, and the HIPS mainstream quotation is 13,500-14200 yuan/ton.

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