The hottest international crude oil fell, and the

2022-08-18
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International crude oil fell, PE market price weakened

I. market overview

international crude oil prices fell, Asian naphtha rose, and Asian ethylene rose. PE ex factory prices of major manufacturers remained stable, linear and high-voltage ex factory prices remained stable, and individual prices of low-voltage brands increased. The price of PE in the domestic market fell slightly, while the price of brand in some regions increased slightly. The market quotation is stable and weak, the market atmosphere is pessimistic, most merchants ship according to the market, and the downstream is more wait-and-see. The demand is light, and the actual transaction is less

II. Fundamental analysis

1. The risk of Italian debt default increased. New York crude oil futures fell from the peak since the end of July on Wednesday and stopped at five consecutive positives, as the sharp decline in the U.S. stock market severely depressed market sentiment. As of the close, crude oil futures for December delivery on the New York Mercantile Exchange fell $1.10, or 1.1%, to $95.74/barrel. On December 9, Brent crude oil futures fell $2.69 to $112.31 a barrel

2. On Wednesday, the price of naphtha in Asia remained near a three week high. In the second half of December, the price of naphtha naf-1h-tyo rose by US $0.50 to US $901 per ton, the highest since October 19. Traders said that as long as China does not import better petrochemical products, the demand for naphtha in Asia will be slow. Formosa Plastics, the largest buyer of naphtha in Asia, has an annual production capacity of 293 tons. The bank said that the operation rate of its 10000 ton factory was reduced to about 80% to cope with the low profit margin of petrochemical products

3. The closing price of ethylene in Asia rose on November 9. CFR Northeast Asia rose $2 to offer 1034 5 dollars/ton; CFR Southeast Asia rose $3 and quoted $per ton

4. Today, the ex factory prices of PE from major manufacturers are stable, the ex factory prices of linear and high voltage remain stable, and the individual prices of low-voltage brands are increased. Linearity: major manufacturers' 7042 mainstream quotation range is yuan/ton, and the brand price of each manufacturer remains stable; Low voltage: the mainstream quotation range of 5000S of major manufacturers is RMB/ton, and the ex factory price of PetroChina Huadong (Fushun) 2911 is increased by 400 yuan/ton; In terms of high voltage: the main price range of 2426h is yuan/ton, and the brand prices of various manufacturers remain stable

5. The data released by the Ministry of Finance yesterday showed that in the first 10 months of automatic shutdown in case of overcurrent, overvoltage and overload, the national fiscal revenue was 9085.168 billion yuan, an increase of 199.186 billion yuan or 28.1% over the same period last year, exceeding the annual fiscal revenue of 8310.151 billion yuan last year. According to the national fiscal revenue level in November and December last year, even if the fiscal revenue in the last two months of this year is the same as last year, the fiscal revenue of this year can exceed 10trillion yuan

III. Market Overview

crude oil prices in New York fell, naphtha rose in Asia, and ethylene rose in Asia. The price of PE in the domestic market fell slightly, while the price of brand in some regions increased slightly. The mainstream quotation of LLDPE in the domestic market is between yuan/ton, the mainstream quotation of high voltage is between yuan/ton, and the mainstream quotation of low voltage is between yuan/ton

1. The linear price of PE market in North China has weakened, and even plastic futures have fallen by the limit. The mentality of merchants is pessimistic, most of them actively sell goods at a profit, some of them cherish goods and close their plates, and the downstream is more wait-and-see mentality. There are few actual transactions. Linear mainstream price yuan/ton. Qilu 7042 has no tax declaration of 9450 yuan/ton, 6098 has no tax declaration of 11400 yuan/ton, 2480 has no tax declaration of 10900 yuan/ton, and 2100-tn26 has no tax declaration of 11050 yuan/ton; Immediately after the completion of the test, take out the sample. Chemical 7042 is reported as 9850 yuan/ton, Daqing 2426k is reported as 9850 yuan/ton, and Yanshan 5000S is reported as 9850 yuan/ton

2. The quotation of PE market in East China was stable and volatile. The crude oil price fell in the last trading day. The market mentality was cautious. Merchants mainly shipped at a stable price, and the downstream took more as needed. The actual transaction was flat. Linear mainstream price yuan/ton. Jihua 7042 reported 9400 yuan/ton, 7050 9450 yuan/ton, Yangzi 2426h 11700 yuan/ton, 2426k 11800 yuan/ton, Daqing 5000S 11700 yuan/ton; Dushanzi 7042 reported 9450 yuan/ton, Daqing 5000S reported 11650 yuan/ton, 2426h reported 11800 yuan/ton

3. The quotation of PE market in South China fell slightly, the confidence of market trading was poor, the offer of merchants was not much, the receiving price of downstream manufacturers was low, and the market transaction was not smooth. The main stream of finite linearity in actual transaction is yuan/ton. Sinopec 7042 reported 9850 yuan/ton, 7144 reported 11200 yuan/ton, 2426h reported 12000 yuan/ton, Sinopec 7042 reported 9980 yuan/ton, Sinopec 2426h reported 11800 yuan/ton, 5502 reported 11100 yuan/ton; Fulian 7050 reported 9850 yuan/ton; Guangzhou Petrochemical 7144 reported 10650 yuan/ton; Daqing 5000S reported 11750 yuan/ton

IV. outlook

the risk of Italian debt default increased, the U.S. stock market plummeted, international crude oil prices fell, Asian naphtha rose, and Asian ethylene rose. PE ex factory prices of major manufacturers remained stable, linear and high-voltage ex factory prices remained stable, and individual prices of low-voltage brands increased. The price of PE in the domestic market fell slightly, while the price of brand in some regions increased slightly. The market quotation is stable and weak, the market atmosphere is pessimistic, most merchants ship according to the market, and the downstream is more wait-and-see. The demand is light, and the actual transaction is less. PE market is expected to weaken in the near future

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