The hottest trading Express oil market soared, and

2022-09-23
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[trading Express] the surge in the oil market and the rise of petrochemicals stimulated the warehouse receipt to a record high

[trading Express] the market closed at 15:00, and the China Plastics warehouse receipt index closed at 1426.25, up 16.14 points from the previous trading day

driven by the rise in heating oil and market concerns about Iran's oil production, the settlement price of crude oil futures rose on Tuesday. Recently, the oil ministers of major oil producing countries have said that the global supply is sufficient and there is no need to hold an emergency meeting before September, but they also revealed that they may consider increasing production if necessary, which makes the market see a glimmer of hope for increasing production. On the other hand, in the face of the record high crude oil price of close to $127/barrel, the U.S. power supply voltage needs to be stabilized. The house of Representatives overwhelmingly passed the bill on Tuesday for the reasons of low hardness. There are generally three reasons: the bill that may force the Bush administration to stop enriching the U.S. strategic crude oil reserves. Analysts believe that one of the two interest groups has finally taken substantive measures, which has a considerable role in stabilizing oil prices

today's WTI electronic intraday quotation ended at 3 p.m. at $125.66/barrel, down $0.15.

on May 10, the warehouse receipt volume was adjusted, the dealers' transaction intention was strong, the two sides had obvious differences, and the order volume also increased due to the establishment of positions. Today, the warehouse receipt market rose again on the premise of high oil prices, with an astonishing rise. The main increase in the early opening was around 100 points, and the increase was expanded to about 150 points close to the end. In terms of transaction dynamics, today's transaction was good, both sides registered orders frequently, both sides established positions, and the order volume increased for three consecutive days. It can be seen from the intraday game that the buyer has an absolute advantage, and large orders are constantly hanging out, while the seller also has a considerable number of rivals hanging out. The overall market expectation is biased towards the rising side, but the high risk is too large, and many traders leave the market to wait and see. In terms of spot goods, stimulated by the rise of petrochemicals today, the market prices in various places have increased differently, but the follow-up is not strong. Many traders began to digest profit taking. There is still a certain wait-and-see in the market, but the resistance from downstream is also getting stronger and stronger

the rise in oil prices shows that the crude oil market is far more concerned about supply than demand. At the same time, OPEC is an oil producing country. High oil prices are in its interests, and whether it increases production or not has little impact on the supply of international crude oil. Under the background of economic recession, inflationary pressure and purchasing power contraction caused by the subprime mortgage crisis, high oil prices are making things worse. In the short term, oil prices may rush to the $130 mark due to speculation, which may constitute a new round of stimulus to the downstream market

15:00 closing, the settlement prices of ab0806, hd0806, ll0806, pp0806 and pvc0805 were 15767, 14134, 14385, 13610 and 8505 yuan/ton respectively, up and down by +64, +31, +101, +155 and +47 points compared with the previous trading day. A total of 9640 tons of new materials were traded in the market today, a decrease of 990 tons compared with the previous trading day; The total order was 16850 tons, an increase of 115 tons over the previous trading day. The specific data of double volume are as follows:

total amount

ABS is one of the largest profile manufacturers in Southwest China

LLDPE

PP

PVC

HDPE

trading volume

9640

55

1510

8010

25

40

order volume

16850

120

2535

14085

55

55

(personal view, for reference only; based on this, enter the market at your own risk)

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