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The Liansu 1809 contract opened at 9185 / ton, the highest to 9330 / ton, the lowest to 9170 / ton, closed at 9305 / ton, up 80 yuan, or 0.
87%, the volume was 263936 lots, and the position increased by 1254 lots to 343560 lots
.
News: On the afternoon of July 9, German local time, Dr.
Brudermüller, Chairman of the Executive Board of BASF SE, and Lin Shaochun, Executive Vice Governor of Guangdong Province, signed a non-binding memorandum of understanding
on cooperation in Berlin, Germany, witnessed by the Chinese and German prime ministers.
BASF AG, a leader in the global chemical industry, plans to invest US$10 billion in the construction of a production base in Guangdong, making it BASF's largest single investment project
in the world to date.
The escalation of the Sino-US trade war may become a good opportunity
for relevant countries to seize China's market share.
Raw material price: naphtha CF Japan reported 677.
38 US dollars / ton, up 1.
29%; FOB Singapore was trading at $74.
13 a barrel, up 1.
31%.
ethylene CFR Northeast Asia 1390 US dollars / ton, flat; CFR Southeast Asia was flat at $1270/mt
.
Spot price: Southeast Asia was quoted at $1140, down $15; Far East reported 1115 yuan / ton, down $
5.
Domestic price: North China Daqing reported 9350 yuan / ton, flat; East China Yuyao reported 9350 tons, flat; South China Guangzhou 9250 yuan, flat; Northwest Dushanzi reported 9,400 yuan, unchanged
.
The Liansu 1809 contract fluctuated higher, and the trading volume increased
significantly.
Fundamentals coexist with long and short, the central mother's directional reduction of the standard, the peak period of equipment maintenance to form a certain support for the price, but the escalation of the Sino-US trade war, the sluggish downstream demand, and the slow decline in social inventory have suppressed it to a certain extent
.
Technically, the MACD indicator red bar is getting longer, and the KDJ indicator shows signs
of a median golden cross.
It shows that the rebound is expected to continue, but the upward pressure cannot be underestimated, and operationally, the short order in the hands of investors can be held cautiously at the 9350 line as the stop loss level
.
