echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > The rebound of Liansu was blocked, and the price retreated

    The rebound of Liansu was blocked, and the price retreated

    • Last Update: 2022-12-18
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Wednesday, the rebound of the Liansu L2009 contract was blocked, closing at 5920 yuan / ton, -140 yuan from the previous trading day; Volume 615349 lots, +151974; position 364314 lots, +42642 lots, basis 340 yuan, +145 yuan; 5-9 spread: 90 yuan, +50 yuan
    .

    Continuous plastic

    News: Shenhua Coal Chemical linear intraday bidding volume of 1079 tons, trading volume of 712 tons, transaction rate of 65.
    99%; High-pressure auction 0 tons, transaction volume 0 tons, transaction rate 0%; The low-pressure auction was 337 tons, and the transaction was 194 tons, with a transaction rate of 57.
    57%.

    Xinjiang high-pressure auction 50 tons, 50 tons, the transaction rate is 100%.

    PE spot trading fell slightly during the day, indicating that the willingness to take goods at high prices in the middle and downstream is not strong
    .

    Spot market: The domestic polyethylene market price is mostly higher, and the price of a few varieties is slightly loosened
    .
    The opening price of the main regional sales company continued to rise, the range was 50-300 yuan / ton, linear futures fluctuated, merchants were on the sidelines, most varieties continued to be overreported, downstream goods were cautious, and the real market was more negotiated
    .
    As of the noon close, the North and South China markets rose 50-150 yuan / ton; East China market adjustment 50-200 yuan / ton
    .

    Warehouse receipt inventory: exchange warehouse receipt reported 120 lots, intraday +120 lots
    .
    Main position: The top 20 long positions in the main contract are 205865 lots, +23272 lots, short positions are 265100 lots, +21998 lots, and the net position is -59235 lots, with a decrease
    in net shorting.

    Summary: The postponement of the OPEC+ meeting may cause market concerns about whether oil-producing countries can reach a joint production reduction agreement, and the absolute value of domestic two barrels of oil and petrochemical inventories is still high, indicating that downstream demand has not fully recovered, forming a certain suppression of prices, and Shenhua's online auction volume has declined, indicating that the willingness of the middle and downstream to receive goods at high prices is not strong
    .
    However, domestic petrochemical enterprises have a strong willingness to raise prices, and the firm spot price has formed a certain support
    for the price.
    Whether the key OPEC+ meeting in the future market can reach an agreement on production cuts, operationally, investors can take profits by rebounding and fall into the pocket.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.