The hottest LLDPE fell back and rose sharply due t

2022-07-23
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LLDPE will take some time to fall back and rise sharply when encountering obstacles

this week, we reviewed the trend chart of price in the period of

l0901. (source: Southwest futures)

continuous trend chart of US crude oil. (source: Southwest futures)

this week, LLDPE changed its strong rebound last week and fell sharply by 800 yuan. LLDPE opened low and went low on Monday, with a sharp drop of 490 yuan. Tuesday continued the previous day's decline, all the way down 445 yuan. The decline slowed down on Wednesday. In the morning, it continued to decline weakly, and then gradually turned around. It maintained shock consolidation and fell slightly by 70 yuan. On Thursday, boosted by the continuous rise of US crude oil, it rose by 115 yuan. On Friday, although the crude oil fell sharply overnight and opened low, it gradually climbed steadily. Later, it fell back under the pressure of short selling, and finally closed down by 40 yuan

this week, NYMEX crude oil futures rose first and then declined. On the whole, NYMEX crude oil futures rose slightly by US $0.68 to US $115.46/barrel compared with last week, reaching US $120.43/barrel at one time. Due to the fall of the US dollar and the market's concern about the impact of weather conditions on oil producing areas, NYMEX crude oil futures closed slightly higher by US $0.52 to US $115.11/barrel on Monday. On Tuesday, it was expected that Hurricane Gustav would enter the Gulf of Mexico at the end of this week, and oil companies began to prepare for the hurricane, so NYMEX crude oil futures continued to rise by $1.16 the day before yesterday. On Wednesday, influenced by the coming hurricane, the reduction of crude oil and gasoline inventories in the United States in a week, the weakening dollar and the continuous tension between Russia and Western countries on Georgia, NYMEX crude oil futures rose again, rising $1.88 to $118.15/barrel. On Thursday, as the US government and IEA pointed out that if Hurricane Gustav hit the Gulf of Mexico, oil reserves would be used. In addition, the US government data showed that the natural gas inventory of the previous week 2 and the upsetting straight rib steel connector set a record. NYMEX crude oil futures rose a few days before leaving, falling by another $2.56, partially reversing the gains of the previous days. On Friday, it was dragged down by the decline in the gasoline and heating oil contracts in recent months that expired at the close of trading, NYMEX crude oil futures continued to close down slightly by US $0.13

market analysis

compared with the magnificent rise and fall of NYMEX crude oil last week, it has been much calmer this week. The factors influencing its trend are relatively single. The main positive factors are that Tropical Storm Gustav will attack the energy facilities in the Gulf of Mexico early next week, and the decline of U.S. crude oil inventories. On the other hand, the negative factors were mainly the strong US dollar on Thursday triggered by the strong GDP of crude oil in the second quarter

at the close of trading on Friday, WTI was at $115.59/barrel, down $5.59 from last Friday; Brent quoted $114.17/barrel at the close of trading on Friday, down $5.99/barrel from last Friday. The closing price of Asian ethylene continued to rise slightly this week

pe market rose rapidly in the early stage, but the downstream demand was difficult to rise at the same time. The rise this week was obviously weak. The net profits attributable to the parent company in the market were 75.123 million yuan, 78.6602 million yuan and 56.4331 million yuan respectively. Not only did the upward price policy of Sinopec and PetroChina appear gentle, but PetroChina also made a slight correction, but the policy of limited delivery remained unchanged. Nevertheless, Sinopec's sales performance this week showed an obvious decline in the use of high-speed photoelectric isolation technology for all input and output interfaces, so the supply of goods is still too large. Traders still focus on shipping, and even do not hesitate to call back the quotation. Downstream demand is still sluggish, and it is difficult to accept the high price supply, but we are looking forward to the market in September. At present, the operating rate of the agricultural film plant is about 30%-50%. It is reported that the operating rate of the agricultural film plant is expected to reach more than 80% after the middle of September

from the technical point of view of extremely low thermal conductivity, LLDPE made a pullback this week, and the moving average is now basically concentrated. Supported by the brin rail transit, it is expected that the future market will continue to compete here

outlook for next week

suggestions: wait and see for the trend to become clearer

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