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Plastics Market Ignored The Oil Market Bleak Warehouse Receipts Lldpe

PP Warehouse receipt weak downstream HC plastic mesh Closing this weekend, China Plastic Worth index 915.86 factors, down 22.90 points from last week over the same interval. Plastic warehouse receipts index decrease in the index 857.84 points, down 25.Ninety three points from last week over the identical interval.

An upstream review Last weekend, though the United States introduced Economy Information expected better, but the dollar rebounded against the euro once more, Europe and the United States stock market fell, driving oil costs lower. Friday (May 15) New York Mercantile Trade West Texas gentle oil in June futures settlement petroleum refinery restructuring possibilities 2017 price per barrel 56.34 U.S. dollars, down 2.28 U.S. dollars larger than the earlier trading day. This week, two oil and gasoline pipeline attacks in Nigeria, the Sun Oil Firm refinery in Pennsylvania within the United States exploded a strong rise in worldwide oil costs. Tuesday, the peak gasoline demand season before the arrival of U.S. refinery upkeep after the accidents, crude oil and gasoline inventories fell, New York mild crude oil futures topping 60 U.S. dollars a barrel. Wednesday U.S. crude oil stocks continued to fall sharply, the new York gentle crude futures robust good points in latest months, six months for the primary time breaking sixty two dollars / barrel. Affected by the stock market Thursday, oil prices fell back sharply in intraday trading under 60 U.S. dollars, however the late rally to above sixty one U.S. dollars.

Ended the week on Might 21, New York, the primary month of gentle oil futures averaged 59.622 U.S. dollars per barrel closing, 1.908 U.S. dollars higher than the earlier week. Intercontinental Trade in London Brent crude ended the first month average worth of 58.778 U.S. dollars per barrel futures, 1.27 U.S. dollars greater than the earlier week.

2, the spot market Vital petroleum refinery restructuring possibilities 2017 positive factors this week, crude oil futures, WTI closed the first time six months to 62 dollars / barrel. Exterior the plate, the poor efficiency of transactions, elevated ocean freight influence. China Petrochemical Group two sub-provide low-cost pre-settlement, settlement after the continued itemizing Sell . Guadan spot market transactions, merchants continue to supply slightly down. Trader mentality in the doldrums, to maintain Kuaijinkuaichu.

East this week PE Depressed market situations, though the shock rise in crude oil costs, the utmost rose to sixty two dollars / barrel, but the market have lost all sensitivity, Wednesday Thursday or even a decline in price. LLDPE Mainstream lowest worth dropped to 9,250 yuan / ton. LDPE prices have also dropped the bottom supply in 9500 yuan / ton and down. HDPE , The modifications in more advanced, the overall value in 9300-11000 yuan / ton between the two.

South China PE market circumstances to continue this week amid edge lower, from late April this yr, the domestic market began a downturn. Usually replicate the poor downstream demand sides of transactions difficult. LLDPE mainstream now supply in 9300-9400 yuan / ton, LDPE maintained at 9400-9500 yuan / ton. HDPE aspect, too few low-strain membrane materials supply, larger prices. Low pressure injection molding, drawing less demand, and by the more serious the affect of imported supplies, prices fell more distinctly.

PE market in North China this week is the big bear market, before the business had doubts when crude oil above 60 U.S. dollars / barrel, the market can remain unmoved Details have proved that the market does proceed to disregard the worth of oil down, there isn’t any demand for help, the market is troublesome to catch wind of crude oil. Darker environment of the market bearish prices each day Yindie, current weakness of the domestic price reported to the 9150-9250 LLDPE mainstream yuan / ton, LDPE unusual excessive-pressure predominant in the 9250-9600 yuan / ton, HDPE Worth mainstream in 11000-11400 yuan / ton.

3, Technical Analysis
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