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Crude oil futures plummet, plastics market is still very high
On October 28, the price of U.
S.
crude oil futures closed sharply lower, hitting the lowest level in about three weeks.
According to data, according to the main contract, the price of U.
S.
WTI futures hit the lowest closing price since October 2, Brent, meanwhile, hit its lowest close since June 12
.
Crude oil futures plummet, plastics market is still very high
Crude oil futures plummet, plastics market is still very highOn October 28, the price of U.
S.
crude oil futures closed sharply lower, hitting the lowest level in about three weeks.
According to data, according to the main contract, the price of U.
S.
WTI futures hit the lowest closing price since October 2, Brent, meanwhile, hit its lowest close since June 12
.
Compared with the plummeting crude oil and U.
S.
stocks, the plastic market is still relatively good, and raw materials are still rising
.
Futures all rose in varying degrees.
PP2101 opened lower and rose 11%, or 0.
14%.
PVC futures rose sharply, and the main contract rose by 75%.
Styrene has risen for four consecutive years, and is currently up 2.
66%.
Today's futures are almost open.
Red across the board
.
At present, in the spot market, the peak consumption season of “Golden Nine and Silver Ten” is coming to an end, and downstream factories are mostly buying goods for rigid needs
.
This week's biggest winner, EVA, continued to lead the rise.
On October 28, EVA/7470K rose 800 yuan/ton, EVA/6110M rose 600 yuan/ton, EVA/5110J and V6020M rose 500 yuan/ton.
Members stood firm at 1W9, approaching the 2W mark (7470K has broken 20,000)
.
Price hikes may continue
Price hikes may continueUnder the "Golden Nine Silver Ten", domestic and foreign orders have improved significantly, and the production of plastic factories has accelerated significantly.
However, the destocking under the pessimistic market expectations has led to the low inventory level of most companies, and the increase in raw material prices has exacerbated the panic of enterprises.
In order to ensure production, even if there is still inventory, plastic companies have begun to scramble for raw materials!
With the advent of shopping festivals such as China's Double Eleven, the growth of the consumer side is expected to bring a secondary positive drive to China's bulk commodities, resulting in the possibility of another increase in the prices of bulk commodities in the chemical fiber, textile, polyester and other industrial chains
.
