Brief introduction to the one week market of the h

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A brief description of the one week market of China Plastics spot PP (February 16 - February 20)

the PP market fell significantly this week. Driven by the price reduction of petrochemical, the market accelerated its decline. Without downstream participation in the early rising market, the positive was seriously expanded, resulting in social inventory not yet digested. The current market price has basically fallen back to the level before the Spring Festival. As of the end of this week, China's plastic price index was 789.07 points, down 27.60 points from the same period last week. The China Plastics spot index rose to 896.35 points, down 11.93 points from the same period last week

I. upstream information review:

although the crude oil futures in Europe and the United States once fell below $40 a barrel, the dollar depreciated, and the crude oil inventory in the United States fell unexpectedly. Before the expiration of the recent month futures of crude oil in New York, Brent and WTI shrank, and the forward premium of crude oil futures on the New York Mercantile Exchange narrowed. As of this week, the average closing price of New York light oil futures for the first month per barrel was $36.81, 0.63 lower than the previous week, with the highest closing price of $39.48 per barrel and the lowest price of $34.62 per barrel. London Intercontinental Exchange Brent crude oil futures for the first month closed at an average price of US $42.132 per barrel, US $3.02 lower than the previous week, with the highest closing price of US $44.81 per barrel and the lowest price of US $39.55 per barrel

II. Market Review:

the PP market fell significantly this week. This week, the market continued its decline over the weekend, and now the market price has basically pulled back before the Spring Festival. The hidden danger buried by the rapid false rise in the early stage finally broke out in an all-round way, and the market fell rapidly. This decline began last week, broke out in full this week, and will continue to spread to next week according to the current situation. As of Thursday, the drawing quotation in East China was yuan/ton, and the copolymerization price was yuan/ton

in terms of petrochemicals, this week, the mentality of petrochemicals began to become pessimistic, and actively appeared as price reduction actions. On Wednesday and Thursday, Sinopec Group cut off the power supply in time, and the performance of the machine was stable. The price was reduced by 10 points, and the listing policy was implemented, which made the market more determined to build a highly competitive industrial cluster with a 3.8-year payback period

in terms of devices, the PP powder device of Jiangsu betas Chemical Co., Ltd. was shut down for maintenance on the 17th. The manufacturer's inventory was not large, and the start-up time was uncertain. The PP powder device of Jinzhou refinery was shut down for maintenance on February 3, which is expected to take more than 20 days. At present, it is not available for sale. Tianjin United PP plant was shut down on September 28, 2008 and is scheduled to start up later this month

III. lower Jinan experimental machine factory portal Brinell hardness tester is a new model. Weekly trend forecast:

the market will continue to decline next week, and there is little hope of rebound. Petrochemical inventory basically remained normal, but since the supply accumulated by traders in the early rise had not been sold in time, the digestion of this part of supply in the later period was also a problem. Therefore, merchants will actively ship next week. The start-up of downstream factories has not been resumed, and the operating rate of enterprises that resume production after the holiday is also significantly insufficient. The dismal level of downstream demand is worrying

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