After the polypropylene festival suddenly meet futures plunge market in the end can hold how long
In February, the polypropylene quotation market experienced a lag in market demand before the fifteenth day of the first month, in order to meet the real peak season in late March, the market experienced a variety of tempering, including the futures decline in the middle of the month, so that some market participants were shocked, most market participants worried about the impact of increased emotions, low cash out frequently. Supported by the strong production enterprises after the year, the market continues to maintain a high level! Some petrochemicals are affected by the decline in futures, whether the market will support or a turning point!
Post-holiday futures continued to be high, giving great support to the market. It is precisely because the futures high pushed up, after the holiday spot to follow the futures continuous high support. However, the continuous high level of off-site inventory after the holiday led to the lag of high market transactions. Due to the decline of futures in the middle of the month, the downward speed of the market was exacerbated. In order to avoid the risk of future market, businesses have made profits to ship.
Polypropylene future market development new direction
Futures decline and terminal demand follow up is limited, restricting market turnover. Merchants due to the continued high off-site inventory after the holiday, in order to avoid future market risks, profit taking is frequent, dragging down the mainstream market offers. However, downstream factory starts and orders are gradually recovering, market demand needs to be improved, and refineries still have confidence in later demand, easing market concerns. Comprehensive advantages and disadvantages, it is expected that the market will tend to be sorted out after the weak fall next week. It is expected that the market drawing price next week will hover around 8700-9000 yuan/ton, and the market copolymerization price will hover around 9000-9500 yuan/ton.