Futures Weekly Report (5.9-5.13)

Methanol: first down then up

Last week, methanol futures hit a new low in nearly 4 months, and the center of gravity quickly stopped falling and pulled .

In terms of supply, the overall operating rate of methanol plants was 758%, down 88 percentage points from the previous month and down 34 percentage points from the same period last ye.

In terms of inventory, methanol inventory in coastal areas fluctuated within a narrow range, slightly increasing to 891,000 tons, an increase of 1,000 tons from the previous month, and an increase of 179% year-on-ye.

On the downstream side, the downstream market maintains just need to receive goods, and the enthusiasm for purchasing in the market is not hi.

On the whole, the short-term market pressure of methanol is acceptable, and after the center of gravity stabilizes, it rebounds in a narrow ran.

(Xia Congcong in the middle of Founder)

Polyolefins: Oscillating Operation

Last week, the price of polyolefin futures fluctuated main.

In terms of spot, the price of LLDPE was adjusted within a narrow range, with a decrease of 100-150 yu.

In terms of supply and demand, some maintenance units have been restarted, and the output has increased marginally, but the profits of oil-to-olefins companies are not good, and many companies have reduced loads and stopped production uni.

In terms of demand, the operating rate of agricultural film was 19%, down 5 percentage points from the previous week; the operating rate of packaging was 60%, up 1 percentage point from the previous week; the operating rate of monofilament was 52%, up 1 percentage point from the previous week; The film operating rate was 52%, up 1 percentage point from the previous week; the pipe operating rate was 47%, the same as the previous week; the plastic weaving operating rate was 45%, the same as the previous week; the injection molding operating rate was 50%, the same as the previous we.

In terms of inventory, the main manufacturers' inventory is 810,000 tons, the PE social inventory is 184,600 tons, and the PP social inventory is 46,100 to.

On the whole, the supply and demand side has not changed much, the market has shifted from strong expectations to weak reality, and the performance of polyolefin supply and demand is we.

(Cheng Xuefei in the middle of Founder)

Natural rubber: a slight rebound

　　Last week, natural rubber futures tested low and met support, stabilized and rebounded slight.

　　In terms of supply, domestic production areas have entered a period of full opening and cutti.

　　In terms of inventory, as of May 13, the inventory of Hujiao increased by 3,557 tons to 267,100 tons; the inventory of TSR 20 decreased by 6,230 tons to 96,700 to.

　　On the downstream side, the operating rate of tire companies has increased significantly, and the shortage situation has eas.

　　On the whole, the supply of natural rubber is strong and the demand is we.

　　(Shi Hai of CSI Futures)

　　Soda ash: downside meets support

　　Last week, due to the interweaving of many bullish and bearish factors, soda ash futures continued to fluctuate unilaterally and fell, and stabilized when they were support.

As of the close on May 13, SA2209 closed up 26 yuan to 2,807 yu.

　　In terms of inventory, the total inventory of domestic soda ash enterprises last week was 810,000 tons, a decrease of 16% from the previous week and a decrease of 17% from the same period last ye.

Soda ash manufacturers have sufficient orders and inventories continue to decli.

The pressure of futures warehouse receipts is heavy, which has a suppressive effect on futures pric.

　　In terms of spot, the output of soda ash manufacturers is 548,000 to.

The domestic soda ash market was stable and improved, the price difference between light and heavy caustic soda narrowed, and the market trading atmosphere was mi.

The number of reduction and maintenance companies increased, the operating rate of the soda ash industry declined, the supply of goods decreased, most manufacturers had sufficient orders, and the inventory continued to drop sharply, and manufacturers were reluctant to se.

The glass production line was ignited, and the consumption of heavy alkali continued to improve, and the price of heavy alkali for manufacturers was mainly stab.

　　In terms of installations, the overhaul of domestic soda ash installations has increased significant.

As of May 11, the capacity of the units involved in maintenance and planned maintenance was about 15 million tons, and the daily operating rate of the units dropped to 87
The production capacity of soda ash is stable, and the maintenance of soda ash equipment in the off-season leads to a phased reduction in supp.

　　On the downstream side, the landing speed of photovoltaic glass projects in various places has accelerat.

　　Overall, the operating rate of soda ash manufacturers fluctuated at a high lev.

Local real estate stabilization policies have been introduced, the cold repair of glass production equipment is expected to weaken, and the demand for soda ash stocking has increas.

Soda ash futures are expected to maintain a high possibility of regional shoc.

　　(Shi Hai of CSI Futures)