1. Upstream dynamics
crude: On Tuesday, WTI crude oil futures for June delivery fell by 0.15% to US$72.13/barrel on Tuesday. Brent’s July crude oil futures closed up 0.44% at US$79.57/barrel. Concerned about the tight supply caused by geopolitical tensions, Europe and the United States crude oil. Futures rose sharply, Brent crude futures once again broke through 80 US dollars per barrel. However, the decline in the US stock market dragged down oil prices narrowed, US crude oil futures ended lower.
Ethylene: On Tuesday (May 22nd) Asian ethylene mixed, CFR Northeast Asia rose 10 US dollars / ton to close at 1269-1271 US dollars / ton, CFR Southeast Asia fell 25 US dollars / ton to close at 1159-1161 US dollars / ton.
Propylene : On Tuesday (May 22nd), the closing price of Far East Propylene FOB Korea was unchanged at 1060-1090 USD/ton, while that of propylene CFR China was 1090-1130 USD/ton, up 5 USD/ton.
2. Today's domestic market dynamics
PP : Today's domestic PP market is dominated by weak adjustments. The petrochemical ex-factory price is stable overall, and it forms a certain cost support for the market. The PP futures have fluctuated on the disk, which has hurt the market mentality. Some traders let trades profit, downstream factories Purchasing on-demand, general transaction. Today's domestic mainstream drawing price in 9050-9350 yuan / ton.
PE : Today's domestic PE market continues to be weak. Some large-area varieties have fallen by 50 to 100 yuan/ton. Linear futures have oscillated and prices of petrochemicals have continued to decline. Most businesses have a pessimistic outlook. Follow-up declines have accompanied them. Downstream demand has not changed significantly. More than one transaction is the main one. The linear price is 9500~9850 yuan/ton.
PVC : Today's domestic PVC market is slightly down. Futures are weak, spot atmosphere is not good, traders offer a follow-through, and the downstream wait-and-see attitude is strong. Just need a small single purchase, poor trading. The current mainstream price of vinyl material in the 7050-7250 yuan / Ton or so, 5 types of electric stone mainstream quoted at 6800-6900 yuan / ton.
3. Market outlook forecast
PP: Today's petrochemical ex-factory price is basically stable. In addition, the recent equipment inspection and maintenance is more concentrated, and the market supply cost support is still available. However, the current raw material prices are high, and the downstream demand is weak. The purchase of raw materials is limited, the merchants are slow to ship, and part of the sales are profitable. It is expected that the domestic PP market will continue its weak and volatile trend tomorrow.
PE: Linear futures oscillated down and hit the spot market. The industry is overly bearish in its bearish attitude. Downstream demand is weak, and most of the traders are blocked. The domestic PE market is expected to continue to be weak. The linear mainstream price is 9450~9800. Yuan / ton.
PVC: At present, despite the temporary supply pressure of spot PVC, some factories in the upper reaches have lowered their factory prices. Futures have weakened and fluctuated, which has a certain influence on the market mentality and a strong downstream attitude. It is expected that the domestic PVC market will show a narrow range of fluctuations in the near future.
4. Device dynamics
Five general plastic closing prices
