International crude oil broke down, 26 chemical products fell

Internal and external factors have superimposed, international crude oil has broken down, and overall chemical products have generally recovered. Expectations are now falling simultaneously.

International crude oil breaks down: the uncertainty of the macro environment and geopolitical situation has increased market concerns about the speed of demand recovery. On September 7, the New York Mercantile Exchange was closed, and the WTI October crude oil spot contract closed at no price. Brent's November crude oil spot contract on the Intercontinental Exchange closed down 0.65 US dollars to 42.01 US dollars per barrel, a decrease of 1.5%. The price of Shanghai crude oil fell during the night trading, and the main future SC2010 closed at 278.6 yuan/barrel, down 6.3 yuan/barrel, or 2.26%.

Domestic chemical spot continued weakness: On September 7, the domestic spot market closed. According to the 130 kinds of chemicals monitored by Jinlianchuang, 33 kinds of chemicals rose, 71 kinds remained stable, 26 kinds fell, the rate of increase was 25.38%, and the rate of decline was 20. %.

Among the 33 rising varieties, the 5 rising varieties were acetone (5.83%), propylene glycol methyl ether (5.77%), soft foam PPG (5.63%), butyl rubber (5.00%), and MMA (5.00%). The focus of acetone market negotiations has risen. There are not many stock holders, and the supply has tightened, and the intention to push up is higher. The raw material PO continued to rise, and the main manufacturers of propylene glycol methyl ether followed up their offers. The downstream waited and saw high prices and just needed to enter the market. With the scattered downstream of PPG just needing support, polyether continues to follow the raw material PO upward. In September, the domestic MMA market launched new production capacity, but due to the reduction of imported goods, the stable and low operating load of the original production enterprises, and the gradual improvement of terminal demand under the background of traditional peak sales seasons, the supply of cracking materials was limited and many other factors. , The overall market may still maintain an upward trend.

Among the 26 falling varieties, the 5 varieties with the largest decline were PA6 (1.83%), bottle grade PET (1.42%), toluene (1.15%), DMF (1.08%), and methyl ethyl ketone (0.83%). Demand continues to be sluggish, and there is significant resistance to high-priced goods, and the PA6 market is operating weakly. Toluene purchases weakened, terminal demand was poor, and prices fluctuated slightly. The downstream high prices of DMF conflict, the actual order prices of the factories are lowered, and the market trading atmosphere is thin. The butanone market is weak and downward, manufacturers are under pressure on inventory and shipments, and the supply and demand are obviously suppressed. The industry's mentality is weak, negotiations continue to run downward, and transactions are not good.

On September 8, the futures market opened, and the chemical sector was mixed: Except for PTA, MEG, No. 20 rubber, rubber, and urea, all products fell.