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HC plastic mesh News: First, the market review
U.S. crude oil futures extended gains on Wednesday, the previous day due to the weak U.S. dollar and up 2.4% Oil OPEC (OPEC) ministers intend to Wednesday meeting decided to maintain the production target unchanged. New York Mercantile Exchange (NYMEX) 4-month crude oil futures CLc1 rose 0.45 U.S. dollars at 0002GMT when, as 82.15 U.S. dollars a barrel, the previous day settlement price rose from 1.9 to 81.70 U.S. dollars. Oil prices have been low as 79.13 U.S. dollars Monday, the lowest since March 2-bit. Asian ethylene offer steady, decline the previous month to up to 300 U.S. dollars / ton; naphtha prices continue to rebound slightly, overtake oil prices, the overall weaknesses in the domestic plastic raw materials; some petrochemical manufacturers today follow the reduction LLDPE Guapai Jia, lower underemployment years after the factory plastic stock market has been plagued with inventory of businesses waiting to see this week's settlement price, not to say price cuts.
Second, fundamental analysis 1. Federal Reserve (Fed) to data released Monday, the United States in February industrial production rose by 0.1% monthly rate in line with Economy Scientists expected, but lower than in January by 0.9%; January industrial output rose a revised 0.9% monthly rate, with the initial flat. At the same time, released the same day in March in New York State Manufacturing index fell to 22.9, lower than February's 24.9, but still higher than the market expected. In addition, U.S. industrial output in February rose 0.1% ring, better than accept the MarketWatch survey of economists, the expected drop of 0.2%. In the latest economic report, driven by significantly higher dollar. In addition, China will soon tighten credit policy is expected to dilute the aid of Greece and the EU leaders to urge U.S. dollar-related factors also significantly higher day one of the main factors. Moody's Investors Service in a recent report that the world's four major economies: the United States, Britain, Germany and France's "AAA" sovereign credit rating of the risk is increased demand for birth dollar hedge.
2. NBS 11, announced in February consumer price index (CPI) rose 2.7% (over the same month down 1.6%), or 1.2 percentage points last month to expand. Among them, the city rose 2.6%, up 2.9% in rural areas; Food Prices rose 6.2%, non-food prices rose 1.0%; consumer prices rose 3.0%, prices of services rose 1.7%. 1-2 months, consumer prices rose 2.1% (down 0.3% a year earlier). Categories Do not look, in February, eight categories of commodity prices rose two fall in six, of which food prices rose 6.2 percent, aquatic products and vegetables prices rose 1.6 percent, clothing prices fell 1.3%, household equipment and service prices fell 0.8%, health care and personal articles prices rose 2.4%, transport and Communicate Class prices rose 0.1%, entertainment, educational and cultural articles prices rose 0.8%, housing prices rose by 3.0%.
3. Customs Department announced that China's January-February Plastic Products Exports increased 17.4% year on year to 1,046,767 tons in the same period, imports of plastics in primary forms by 20% year on year to 3.71 million tons. February 2010, the export volume of plastic products in China 472,789 tonnes, from January to February total export volume of 1,046,767 tons, compared with 891,247 tonnes over the same period in 2009 increased 17.4%.
4. Ethylene, the March 13, ethylene steady in Asia, CFR Northeast Asia reported 1143.5-1145.5 U.S. dollars / ton, CFR South East Asia reported 1105.5-1107.5 U.S. dollars / ton.
5. The spot, the Daqing Petrochemical, Jilin Petrochemical down ex-factory price 400 yuan / ton, Guangzhou Petrochemical, Maoming Petrochemical, Petroleum East China LLDPE Guapai Jia maintained unchanged. Traders to manufacturers are not enthusiastic about billing, shipping businesses have inventories greater pressure, brokers and downstream manufacturers, then set ineffective.
6. Stockpiles, as of March 16, 2010 China PP , PE major markets to increase the total inventory, compared with an increase in 3.46% by the end of February.
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