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Recently, PP futures fell slightly after soaring, and spot market quotations weakened in the afternoon, and trading was flat
.
The market focus continued to decline in U.
S.
crude oil inventories and reduced production in Iran and Venezuela, and European and U.
S.
crude oil futures extended their rally
.
However, the strengthening of the dollar and the decline in the US stock market dampened the oil market's
rally.
On Thursday (August 30), WTI crude oil October futures settled at $70.
25 per barrel, up $0.
74, or 1.
1%, from the previous session, trading in a range of $69.
55-70.
5; Brent crude oil October futures settled at $77.
77 per barrel, up $0.
63, or 0.
8%, from the previous session, trading in a range of $77.
18-$78.
03
.
SC main force 1812 rose 4.
4 to 515.
7 yuan / barrel; Overnight trading closed up 7.
2 at 522.
9 yuan per barrel
.
The ex-factory price of PP petrochemical is stable and adjusted, falling more than rising, and the adjustment range is between
30-310 yuan / ton.
Recent production of some PP devices:
The PP market remained unchanged, traders maintained shipments, quotations were generally stable, and a few fell
slightly.
The adjustment of PP in Plastic City has increased, with mixed ups and downs, with the adjustment range ranging from 10-250 yuan / ton; The listing price of some PP grades in Zhejiang Plastic Mall was adjusted by 100-900 yuan / ton, which rose and fell
.
In the future, the operation of the polypropylene spot market is still under pressure
.
The recent sluggish rise of futures has weakened the effect on spot gains; insufficient downstream operation and resistance to high prices of raw materials; In addition, the pre-maintenance equipment has been started one after another, and the market supply and demand have increased
.
As a result, the contradiction between market supply and demand gradually emerged, suppressing
prices.
However, considering that the supply of local grades imposed by the support of petrochemical price support at the beginning of the month is still tight, the expected downside is limited
.
Zhejiang Plastic Market expects that the PP market will launch a weak and volatile trend in the near future, and the transaction will not be significantly amplified in the short term and will be mainly
negotiation.
