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    Home > Chemicals Industry > New Chemical Materials > After the long holiday, the operating rate rebounded, and PP prices rebounded

    After the long holiday, the operating rate rebounded, and PP prices rebounded

    • Last Update: 2022-12-17
    • Source: Internet
    • Author: User
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    Market conditions: PP low rebounded, PP2001 main contract rebounded, futures price closed at 8120 yuan / ton, -0.
    49% from the previous trading day; Volume 482758 lots; Position 589432 lots, +13340 lots
    .

    PP

    News: Shenhua online auction data shows that polypropylene auctioned 1412 tons, (1747 tons in the previous trading day) 466 tons (229 tons in the previous trading day), the transaction rate was 33%, most of them were traded at the auction reserve price, and some varieties were sold at a premium of 20 yuan
    .
    The linear auction was 400 tons (229 tons in the previous session), 0 tons were traded (0 tons in the previous session), and the transaction rate was 0.
    00% (0.
    00% in the previous session).

    Spot market: After the end of the National Day holiday, petrochemical inventories increased by 280,000 tons to 885,000 tons, inventory pressure was large, spot quotations in the market fell downward, spot goods in the market were less, and merchants were cautious
    .
    The ex-factory price of CNPC Northeast was generally reduced by 100 yuan / ton; CNPC Northwest Copolymer injection molding was raised by 50 yuan / ton
    .

    Warehouse receipt inventory: Exchange warehouse receipts reported 322 lots, -0 lots within the day, in the historical low area
    .

    Main position: The top 20 long positions in the main contract are 186539 lots, +5971 lots, short positions are 204866 lots, +3395 lots, and the net position is -18327 lots, with a decrease
    in net shorting.

    Summary: During the long holiday, the international economic situation continued to remain turbulent
    .
    Chaos in the Middle East continues and shows signs of
    contagion.
    The international trade disputes between the United States and Europe, the United States and Iran, the United States and Russia, and the United States have continued
    .
    Saudi crude oil production has fully recovered to pre-attack levels
    .
    International crude oil prices have shown initial signs of stopping their decline after falling back to the previous low, but whether they can stop falling and rebound still depends on the development of
    the situation in the Middle East.
    During the long holiday, the operating rate of producers was stable and market inventories increased
    significantly.
    However, after the long holiday, the operating rate of downstream enterprises has rebounded, and it is expected to accelerate the digestion of a part of social inventory
    .
    Operationally, it is recommended that investors operate in the range of
    8150-8000.

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