A brief introduction to the weekly market of the h

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A brief description of the one week market of China Plastics spot PP (November 17 - November 21)

the PP market continued to rebound weakly this week, and the market fell rapidly. Last week, hoarders began to actively ship goods, the market circulation source increased, the transaction price continued to decline, and the noise during working hours was low. The mentality is pessimistic again, and there is no good expectation for the future market. As of the end of this week, China's plastic price index was 747.97 points, up 1.91 points from the same period last week; Xiao Yaqing said that the index on Friday was 921.97 points, up 9.27 points year-on-year from the same period last week

I. upstream information review:

geopolitical tensions and the news of the OPEC meeting in advance failed to boost the market. In the pessimistic atmosphere of the market, the international oil price fell to the lowest level in three and a half years, and the European and American crude oil futures fell below $49 in the intraday, closing below $50 a barrel, the lowest since late May 2005. U.S. crude oil and gasoline inventories increased, the economy fell seriously, demand continued to decline, consumer confidence lost, and international oil prices continued to plummet by two-thirds in a quarter. As of the week of November 20, the average closing price of New York light oil futures for the first month was $53.924 per barrel, 5.512 lower than the previous week, with the highest closing price of $57.04 per barrel and the lowest price of $49.62 per barrel of exchange industry information. London Intercontinental Exchange Brennan is a unit of length measurement. The average closing price of the first month futures of special crude oil is $51.64 per barrel, which is $3.66 lower than the previous week. The highest closing price is $54.25 per barrel and the lowest price is $48.08 per barrel

II. Market Review:

the PP market continued to rebound weakly this week, and the quotation fell rapidly. At the beginning of the week, the market continued to rise, and the market expected Petrochemical prices to rise. Prices remained high and were closed. But since Tuesday afternoon, as the dust of Sinopec's price rise settled, the market lost the factors that could be hyped, and the atmosphere gradually cooled down. Merchants actively ship goods and constantly seek deals at low prices, but the downstream market is bearish again, and the intention to receive goods is weak

in terms of petrochemicals, the production reduction measures have significantly reduced the petrochemical inventory. With the help of the market rebound, petrochemicals generally raised the listing price. However, after the market fell, the ex factory price of petrochemicals was significantly higher, and PetroChina East China took the lead in recalling the ex warehouse price. It is expected that the petrochemical price is likely to decline in the later stage

in terms of devices, Yanshan Petrochemical PP device Yiju recovers to full load, and now produces K1008; Dimer continues to stop in line with the production restriction policy; Trimeric k9026. Tianjin United PP plant stopped in the early morning of September 28, and has no intention to start in the near future. The preliminary plan will be postponed to start in March next year

III. trend forecast for next week:

this week's short and violent rebound ended, and the market fell again. On the premise that the macroeconomic environment is still bad, although petrochemicals will continue to reduce production next week, the supply of goods will not increase significantly. However, the current situation of sluggish downstream demand will not be improved, and the factory's ability to digest the supply of goods is weak, which will become the fatal weakness of the market. Next week, the market will continue this week's decline

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