Brief introduction to the one week market of the h

A brief description of the one week market of China Plastics spot ABS (March 23 - March 27)

as of the end of this week, China's plastic price index was 903.32 points, up 42.85 points from the same period last week. The China Plastics spot index was 971.14 points, up 46.03 points from the same period last week

I. upstream information:

on Monday, the plan that the U.S. government will pay for the non-performing assets of banks strengthened market confidence. Driven by the rise of the stock market, crude oil futures in Europe and the United States rose sharply. On Tuesday, affected by the early decline of U.S. stocks and the rise of the U.S. dollar exchange rate, international oil prices fell in early trading. Expectations for the growth of U.S. crude oil inventories and the decline in consumer confidence curbed the rise in oil prices. In the following days, although the U.S. crude oil inventory rose to the highest level in 15 years, the upward trend of crude oil futures was restrained. However, the inventory of refined oil products fell, US stocks rose, and OPEC shipping exports decreased, triggering a buyer's atmosphere in the oil market. On Thursday, European and American crude oil futures rebounded sharply, rising to the highest level since December last year

as of the week of March 26, the answer of New York light oil in the first month was that the average closing price of the former futures was $53.19 a barrel, which was $4.69 higher than the previous week. London Intercontinental Exchange Brent crude oil futures for the first month closed at an average price of $52.68 a barrel, up $5.584 from the previous week

II. Market situation:

international market: supply is tight, demand is OK, and Asian ABS intermediaries continue to push up prices. This week, CFR China's price rose by 97.5 US dollars/ton to US dollars/ton, and CFR Southeast Asia's price rose by 92.5 US dollars/ton to US dollars/ton. This week, the delivery price of ABS railway transportation in the United States stabilized at 1 cent/pound. Demand recovered from January to March, and orders in April were acceptable. Since March, the ABS market in northwest Europe has only increased slightly. Asian prices have a competitive advantage. At present, imports are expected to put pressure on local spot prices and market demand is weak

domestic market: in just a few days from last weekend to this Monday, the domestic ABS market has digested the sharp rise of petrochemicals. Especially in the East China market, supported by the high hype atmosphere of merchants and the limited supply of goods, most prices have risen sharply by yuan/ton. The atmosphere in the venue was high, the enthusiasm of merchants was high, and some merchants actively replenished. In the following days, market prices continued to rise. The rising trend of the East China market slowed down slightly, and the market was mainly to digest the rising trend in the early stage, and traders' sentiment of chasing up at the high point fell. The hype atmosphere in the South China market is still strong, and the replenishment of traders is relatively high. 5. When opening the fixture to clamp the sample, pay attention to the clamping distance of the sample, not too much or too little. It is positive, and the overall trading volume is considerable. Compared with previous trading days, the rise in the domestic ABS market slowed down slightly this weekend, and transactions in the East China market were OK, but traders' intention to cover positions fell significantly, and wait-and-see and shipment increased. Under the influence of oil price fluctuations in the South China market, the market atmosphere has cooled down, and traders' mentality has become more rational, but the trading volume is acceptable

III. future trend prediction:

the domestic market is affected by the stabilization of ex factory prices of petrochemical enterprises, the hype atmosphere has dropped, and the mentality of businesses is calm. At present, the operating rate of downstream factories is acceptable, but the enthusiasm for taking goods is not high. Some market participants said that supported by tight inventory, tight supply and increased demand from buyers, it was time for Sinopec to raise prices again. It is expected that there is still room for growth in the future, but if businesses take profits from early resources, the market may have a rational correction

note: there are some small problems in this transfer, and the contents are indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its contents