With plastic to follow the crude oil market fell by their daily limits

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September 2 day assessment LLDPE


September 2, by the sharp decline dragged down international crude oil market, with plastics futures opened low, sharply lower overall. Main contract L0901 morning lower opening in the 13,380 points, followed by shock on the price fell, tumbled to a daily limit, until the close, intraday high of 13,380 points, the lowest 12 990 points, Zhong Pan down over 540 points the previous day settlement price, to 12,990 points turnover of 31 226 hands, 856 hand positions to reduce to 15,714 hand, the contract traded a total of 36 538 hands, with a total 22 232 positions hand.


Spot market, spot market price of polyethylene plastic overall stability, some slight downward adjustment of grades, general transactions. Still be taken, with a downstream firm with purchases, sporadic demand for normal, few large, traders operating still cautious, wait and see petrochemical enterprises in general trends. LLDPE prices in the current mainstream 13650-15500 yuan per ton. One morning in North China LLDPE market transactions lower, Sinopec Beijing linear cut prices listed, crude oil prices lower monomer, futures opened limit-down, poor stock market sentiment, the downstream getting goods with less. East LLDPE market prices, much lower reaches of the factory getting goods, traders poor attitude. South LLDPE market inquiry light, listed Sinopec Guangzhou, the lower reaches of the factory watching the majority of transactions scarce.
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Warehouse receipt market, warehouse receipts in the plastic main warehouse receipts LL0811 LLDPE market opened low center of gravity down, opening reported 13,300 points, up 13,350 points, then shut down daily limit price shocks of warehouse receipts position until the close, at 13,220 points compared to the previous day settlement price fell 409 points, against yesterday's turnover decreased to 120 hand, an increase of 24 hand positions, to 516 hands. Treasure Island warehouse receipts, warehouse receipts substantially LLDPE market opened low, opening main warehouse receipt LL0811 reported 13 400 points, followed by warehouse receipts price shocks all the way down, and seal the daily limit position until the close, at 13,126 points, up settled down 405 points, closing 130 hand, 729 hand positions.
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Upstream market, due to Hurricane Gustav will seriously damage the U.S. oil industry concerns have eased, the storm before making landfall in Louisiana has been weakened, as oil prices tumbled more than at present to around 107 U.S. dollars. London, October Brent crude fell below 110 U.S. dollars. Ethylene, the ethylene latest tumbled in Asia, CFR Northeast Asia Report 1302-1308 or 35 U.S. dollars U.S. dollars / ton, CFR Southeast Asia Report 1272-1278 40 dollars or U.S. dollars / ton.


As of now, the New York electronic trading in October crude fell to around 107 U.S. dollars, plus the sharp decline in Asian ethylene markets dragged down with plastic weakness in the futures market, as published in Beijing, Sinopec listed LLDPE price reduction policy, traders on the petrochemical This approach is more positive. No significant improvement in downstream plant demand, the downstream petrochemical This makes staying on the sidelines, getting goods less active, more than not getting goods. Comprehensive view, will continue to shock even the plastic or adjust posture, close attention to the crude oil market dynamics.