Xinhu Futures: LLDPE hit a record low yesterday. Can it form the bottom of the policy today?
yesterday, China Plastics price index fell 2.02 points to 1237.67 points, and China Plastics spot index fell 3.14 points to 1277.22 points
in order to prevent the U.S. financial crisis from worsening, the IEA released the data of a sharp decline in crude oil inventories, intended to alleviate investors' concerns about the continued recession of the U.S. economy. The settlement price of NYMEX crude oil futures contract in October closed up $6.01 or 6.59% to $97.16 a barrel
the opening of the main 901 contract of LLDPE of Dalian commercial exchange was also boosted yesterday. It seems that there is a short closing order to raise the futures price to 12360 yuan/ton in one minute, but the result tells us that it is just a futile struggle, and it is still difficult to escape the fate of weakness in the end. It hit an all-time low of 11550 yuan/ton, which is really miserable! At the end of the day, it closed at a low price of 11630 yuan/ton. There was no significant increase or decrease in positions and transactions
I 2. The refining business of Sinopec and PetroChina has been suffering for some time on a solid foundation or workbench. Sinopec lost 46.021 billion yuan in refining in the first half of the year, and PetroChina lost 59.015 billion yuan in refining and sales in the same period. Now the oil price has plummeted, and the domestic and international oil prices of finished products have gradually approached. The breakeven point of Sinopec's refining business is about $95 per barrel, while the breakeven point of PetroChina's refining business is $88 per barrel. At present, the refining businesses of the two giants are close to the breakeven point. If we get rid of the loss state, Sinopec and PetroChina will have no pressure as the basis for calculation, and the possibility of raising the price of downstream products will be very small. Therefore, LLDPE is still in a gloomy moment
in the middle and late 1980s,
governments of all countries had the same attitude towards the financial crisis and tried their best to rescue the market. Today we will wait and see whether LLDPE can reach the bottom of the policy
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