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The petrochemical destocking effect is obvious, and the PP market quotation is temporarily stable

 Last Update: 2022-12-06
 Source: Internet
 Author: User

Tags

oil trading price

lng spot price

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Recently, petrochemical destocking has gradually achieved results, and the PP operating rate has dropped below 85% again, and the effect has gradually appeared
at the end of last month.

In crude oil, international oil prices rose for five consecutive years, with WTI up $0.
50, or 1.
13%, at $44.
74 per barrel, and Brent up $0.
66, or 1.
41 percent, at $47.
31 per barrel
.

In the spot market, the PP market resumed its rally, drawing the mainstream 7600-7950 yuan / ton, up 50-100 yuan / ton
.
Today's PP factory price is firm, PP futures are still the main driving force for the rise, today PP futures rose again, the highest once exceeded 7900, futures soared driven by the market trading atmosphere improved, the transaction is better
.

Downstream demand has not improved substantially, which is still restricting the resistance of the market rebound
.
It is expected that the PP market will be mainly
stable.

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