Plastics market ignored the oil market bleak warehouse receipts LLDPE
PP Warehouse receipt weak downstream HC plastic mesh Closing this weekend, China Plastic Price index 915.86 points, down 22.90 points from last week over the same period. Plastic warehouse receipts index lower in the index 857.84 points, down 25.93 points from last week over the same period.
An upstream review Last weekend, although the United States announced Economy Data expected better, but the dollar rebounded against the euro again, Europe and the United States stock market fell, driving oil prices lower. Friday (May 15) New York Mercantile Exchange West Texas light oil in June futures settlement price per barrel 56.34 U.S. dollars, down 2.28 U.S. dollars higher than the previous trading day. This week, two oil and gas pipeline attacks in Nigeria, the Sun Oil Company refinery in Pennsylvania in the United States exploded a strong rise in international oil prices. Tuesday, the peak gasoline demand season before the arrival of U.S. refinery maintenance after the accidents, crude oil and gasoline inventories fell, New York light crude oil futures topping 60 U.S. dollars a barrel. Wednesday U.S. crude oil stocks continued to fall sharply, the New York light crude futures strong gains in recent months, six months for the first time breaking 62 dollars / barrel. Affected by the stock market Thursday, oil prices fell back sharply in intraday trading below 60 U.S. dollars, but the late rally to above 61 U.S. dollars.
Ended the week on May 21, New York, the first month of light oil futures averaged 59.622 U.S. dollars per barrel closing, 1.908 U.S. dollars higher than the previous week. Intercontinental Exchange in London Brent crude ended the first month average price of 58.778 U.S. dollars per barrel futures, 1.27 U.S. dollars higher than the previous week.
2, the spot market Significant gains this week, crude oil futures, WTI closed the first time six months to 62 dollars / barrel. Outside the plate, the poor performance of transactions, increased ocean freight impact. China Petrochemical Group two sub-supply low-cost pre-settlement, settlement after the continued listing Sell . Guadan spot market transactions, merchants continue to offer slightly down. Trader mentality in the doldrums, to keep Kuaijinkuaichu.
East this week PE Depressed market conditions, although the shock rise in crude oil prices, the maximum rose to 62 dollars / barrel, but the market have lost all sensitivity, Wednesday Thursday or even a decline in price. LLDPE Mainstream lowest price dropped to 9,250 yuan / ton. LDPE prices have also dropped the lowest offer in 9500 yuan / ton and down. HDPE , The changes in more complex, the overall price in 9300-11000 yuan / ton between the two.
South China PE market conditions to continue this week amid edge lower, from late April this year, the domestic market began a downturn. Generally reflect the poor downstream demand sides of transactions difficult. LLDPE mainstream now offer in 9300-9400 yuan / ton, LDPE maintained at 9400-9500 yuan / ton. HDPE side, too few low-pressure membrane material supply, higher prices. Low pressure injection molding, drawing less demand, and by the more serious the impact of imported materials, prices fell more distinctly.
PE market in North China this week is the big bear market, before the business had doubts when crude oil above 60 U.S. dollars / barrel, the market can remain unmoved? Facts have proved that the market does continue to ignore the price of oil down, there is no demand for support, the market is difficult to catch wind of crude oil. Darker atmosphere of the market bearish prices daily Yindie, recent weakness of the domestic price reported to the 9150-9250 LLDPE mainstream yuan / ton, LDPE ordinary high-pressure main in the 9250-9600 yuan / ton, HDPE Price mainstream in 11000-11400 yuan / ton.
3, Technical Analysis
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