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[PE daily review] futures open up shock PE market consolidation
- Jun 07, 2018 -

First, upstream market dynamics

It was rumored that the United States was asking OPEC to increase its crude oil production, and that international oil prices fell to the lowest level in nearly a month, but analysts estimated that US crude oil stocks had decreased and European and American crude oil futures fell to a higher level. Tuesday (June 5th) New York commodity futures exchange West Texas light oil futures settlement price of $65.52 per barrel, up 0.77 US dollars, or 1.2%, $64.22-65.57 in the trading interval compared to the previous trading day, and the August 2018 futures settlement price of London Intercontinental Exchange Brent crude oil $75.38, up 0 than the previous trading day. .09 US dollar rose 0.1%, trading range 73.81-75.74 US dollars. SC crude oil night plate closed at 463.2 yuan / barrel, down 2.9 yuan, or 0.62%.

Second, today's PE Market Review

1. Spot:

Today, the price of PE market is narrow, and most of them are in the middle of the market. Most of the petrochemical factory prices are stable, individual downregulation, linear futures although high volatility, but the market trading atmosphere is general, some merchants shipped in the market, the downstream purchasing mood is not good, firm focus on business.

2. Futures:

The closing price of domestic crude oil was 465, compared with 461.70 of the opening / selling price rose by 3.3 yuan, the highest price hit 466.70, and the turnover was 238 thousand hands. Yuan / barrel

PE futures contract 1809 opened 9295, closed at 9225, 50 lower than the previous settlement price, 256 thousand hands traded; 1905 main contract closed at 9135, fell 15, 554 hands.

3, the US dollar side:

The PE dollar market continues to be stable today, and the transaction is still available. Part of the new brand prices down, to stabilize the deal. At the beginning of this month and the middle of the month, some traders in the Middle East came to Hong Kong, and traders continued to make profits. At present, the domestic PE dollar market has high demand for high pressure foaming and heavy package, and is expected to be postponed to the RMB market, which is conducive to the digestion of high pressure inventory.