The trading atmosphere in the hottest market was l

2022-08-07
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The market trading atmosphere was light, and the PE market price fluctuated slightly.

I. market overview

international crude oil rose slightly, Asian naphtha fell, and Asian ethylene closed. The ex factory price of domestic PE is stable today. The domestic PE market price fluctuated slightly today, linear low prices disappeared in some regions, and prices remained stable in some regions. The market atmosphere is mainly wait-and-see, the mentality of the merchants is poor, most of them ship goods according to the market, the downstream demand is weak, there are not many inquiries, and the actual transaction price is mainly negotiated

II. Fundamental analysis

1. On the same day, the euro zone released a series of positive economic data, which boosted investors' confidence in the economic recovery of the euro zone, so the euro gained momentum. The exchange rate of the US dollar against the euro once fell to its lowest level in one month. The US dollar index, which tracks the exchange rate changes of the US dollar against a basket of currencies, fell by about 0.5%. The weak US dollar increased the attractiveness of crude oil, pushing the decline in oil prices before the repair of energy-saving intelligent infrared shielding v02/mica functional composite and energy-saving PMMA acrylic polymer plate. At the close of the day, light crude oil futures for July delivery on the New York Mercantile Exchange rose slightly by 8 cents to close at US $99.09 per barrel. The price of Brent crude oil futures for July delivery in London market rose by US $2.30 to US $116.78 per barrel, or 2.01%

2. In the second half of July, the price of naphtha naf-1h-tyo in Japan's open specification fell by $3.00 to $958.50 per ton, the lowest since Friday. Some traders still expected the market to be weak, pointing out that the cracking plant of Formosa Plastics, a major Asian buyer, was still closed after the fire on May 12. This resulted in a significant reduction in demand, but the spot supply in the Gulf continued to be sent to Asia. Abu Dhabi National Oil Company (ADNOC) is expected to sell 75000 tons of cargo shipped on July this week. In addition, tasweeq is expected to launch a July auction on Thursday or Friday

3. On June 7, the closing price of Asian ethylene market was flat. CFR Northeast Asia quotation 1200 USD 5/ton; CFR Southeast Asia quotation 1198 5 dollars/ton. The negotiation atmosphere in the spot market was bleak. There was a resurgence of parking in some units in Taiwan, and there was a strong wait-and-see atmosphere in the venue. However, in view of the current high social inventory, the parking news has more impact on people's mentality, and the real offer operation has not changed much. There was still a lack of terminal buying gas. The seller offered us $1200/T fobnea, but there was no transaction. On the aspect of the device, the government ordered the South Asia No. 3 and most steel mills in Taiwan to maintain low inventory production. The No. 4 ethylene glycol device was shut down on June 20, and its load is currently maintained at%. In addition, the No. 1 and No. 2 ethylene glycol units in South Asia, Taiwan shut down due to pipeline fire on May 12, which means that the ethylene glycol supply in South Asia will be interrupted throughout June. Formosa Petrochemical's 700000 T/a unit was forced to shut down due to the fire on May 12. With the shutdown of the ethylene glycol unit in South Asia, its demand for ethylene decreased significantly, and the possibility of shutting down its 1.03 million T/a No. 2 steam cracking unit in the later period increased

4. Today, the ex factory prices of PE from major manufacturers are stable, and individual ex factory prices are reduced. Linearity: major manufacturers' 7042 mainstream quotation range is yuan/ton, and manufacturers maintain yesterday's ex factory price; Low voltage: the mainstream 5000S quotation range of major manufacturers is RMB/ton; All manufacturers maintain yesterday's ex factory price; In terms of high voltage: the main range of 2426h is yuan/ton. The ex factory price of PetroChina Southwest 18D was lowered by 200 yuan. 7. The adjustment of the experimental space was controlled by electric control per ton, and other manufacturers maintained the ex factory price of yesterday

On Tuesday, the central bank opened the market for the first time after the Dragon Boat Festival. On that day, the central bank only issued 2billion yuan of one-year central bank bills, but carried out a repurchase operation of up to 100billion yuan. Analysts said that on the one hand, the central bank's implementation of 100 billion positive repurchase is to hedge the maturing funds of more than 200 billion this week, and on the other hand, it is also to balance the distribution of maturing funds in the second half of the year

III. Market Overview

crude oil futures in New York fell, Asian naphtha rose, and Asian ethylene leveled off

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