International oil prices continue to fall, the plastics main contract market remains more
2020-02-06 13:07:57
Although the US crude oil rig continues to decline for 27 consecutive weeks, the market is worried about oversupply, Saudi Arabia has signs of continued production increase, Saudi Arabia is an oil-producing country, and international oil prices have fallen for two consecutive days. Yesterday, the domestic plastics main contract opened weakly consolidating, but the end of the force pulled up, closing at the day's high. The sudden increase in the position of the plastics main contract in the late stage indicates that the market remains strongly emotional.
In terms of spot, the petrochemical pricing in the PE spot market was stable and the RMB price was sideways. Yesterday, the trading market of PE US dollar market was general, the pressure of merchants' supply was not great, and there was no intention to rush to ship. The market's mainstream offer is basically stable, buyers are selling at a very high price, and there is no lower price to hear. Due to the strong price of petrochemicals in the near future, the futures trend is still acceptable, and market confidence is still stable. There are not many market enquiries, buyers are not interested in the current price, follow-up intentions to make up the short position, and there are not many transactions. Personally believe that the plastic cycle price will remain strong and volatile, but the upside is subject to crude oil prices.
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