The company's 1901 contract opened on Tuesday (oct 23) at rmb9,440, up to rmb9,470, and ended at rmb9,430, down rmb40, or 0.42%.
The rebound in the L1901 contract was hampered by a slight contraction in volume, showing that the pressure above remains high. On the basic level, the management's tax reduction and reserve ratio will provide some support to the market, but the price of raw materials will fall back and the flat downstream demand will suppress the price. Technically, the bottom is hard to say in the short term. In operation, investors are advised to set up the short order to profit, cautious hold.
The PP1901 contract opened on Tuesday (oct 23) at rmb1,0034, up to rmb1,0067 and as low as rmb1,006, closing at rmb1,0030, down rmb53, or 0.53 per cent. Turnover was reported at 324,696 hands, with holdings reduced by 14,222 to 460,752.
PP1901 rebound asthenia, a large decline in trading volume, the size of the position is obviously shrinking. On the basic level, social inventory is low, supply pressure is not big to form certain support to the price, but spot and propylene price is loose, downstream enterprise takes goods not active, the market transaction is light to form suppress to the price. Technically, short - term adjustments are required. In operation, investors are advised to set up the short order to profit, cautious hold.
The PVC1901 contract opened on Tuesday (oct 23) at 6440 yuan/t, with a maximum of 6480 yuan/t, a minimum of 6420 yuan/t, and closed at 6460 yuan/t, up 55 yuan/t.
Futures market intraday rebound, boosted market confidence, the overall transaction center of gravity is stable slightly higher, upstream manufacturers for the end of the month sales policy to consider prices slightly lower, the short-term market is expected to 6650-6700 yuan/ton front line, the main shock of the futures disk, during the period to see 6350-6550 yuan/ton.
[PE] futures weakened due to volatility, and petrochemical companies lowered prices one after another, which dampened the market trading atmosphere. In addition, downstream factories were affected by the attitude of "buy up, don't buy down", so they were more cautious in filling positions, resulting in slow shipment by merchants and softening of raw materials prices. PE market is expected to continue weak operation today, linear mainstream price 9550~10000 yuan/ton.
[PP] the domestic PP market situation yesterday consolidation. Futures run at a low level, some petrochemical plant prices fell, the supply of supplies to the cost support weakened, and petrochemical inventory continued to pick up adding to the bearish sentiment in the market. Trade prices slightly loose, downstream factory wait-and-see atmosphere, according to the need to purchase, firm offer negotiations. The overnight price of crude oil dropped sharply. It is expected that the psychology of PP market will be affected today. The market continues to be weak and volatile.
[PVC] the domestic PVC market was stable and positive yesterday, with the futures rising slightly and the spot market price rising by 20-30 yuan/ton. The transaction situation also continued to improve. Inventory of downstream raw materials is not high, but it still needs to be purchased. It is expected that the domestic PVC market will continue to consolidate today, and the price of electrolith in the east China market will be around 6620-6720 yuan per ton.
The ABS market center of gravity continued to move down yesterday. The mainstream market participants lack confidence, the supply of goods circulation is not smooth, the actual transaction price negotiations mainly. Part of the regional market empty orders are active, merchants with the main market operation. As the styrene market fell and the periphery weakened again, pessimism was high. ABS market in the near future is expected to continue the downward trend of weakness.
[PS] the price of raw material styrene continued to decline yesterday, with a strong bearish atmosphere in the PS market and a weak fall in the market price. The overnight international oil price slump, today is expected to hold goods traders still to positive shipments, but the margin of profit will be subject to the impact of the mainstream petrochemical enterprises to maintain stable prices, so the stalemate between buyers and sellers will continue, the market transaction is still difficult to volume