The 'Price Boom' Is Here! More Than 20 Kinds of Chemicals Are On The Rise!

On the first trading day after the holiday (7th), the domestic commodity futures market ushered in a "good start", with more than 20 kinds of energy and chemical products rising. Among them, liquefied petroleum gas rose by 8.45%, asphalt, PTA, low-sulfur fuel oil rose by more than 5%, polyvinyl chloride, polyethylene, polypropylene, soda ash, crude oil rose by more than 4%, styrene, ethylene glycol, methanol, etc. rose slightly.

Overseas markets collectively rose, and A-shares made a good start

Previously, the market had high expectations for a "good start", mainly due to the collective strength of overseas markets during the holidays. During the Spring Festival holiday, there were frequent reports of good news in the international commodity market. The three leading commodities of crude oil, gold and copper rose one after another. The US stock market stabilized and rebounded as a whole. The Dow Jones Industrial Average, S&P 500, and Nasdaq all recorded gains, with a cumulative increase of 1.89% respectively. , 1.55%, 1.05%.

The Hong Kong stock market opened on the 4th and ushered in a good start to the Year of the Tiger. The Hang Seng Index opened higher and moved higher, closing sharply up 3.24%, and the Hang Seng Technology Index also rose by more than 3%. In addition, other Asian stock markets are also very strong. Japan's Nikkei 225 Index and South Korea's KOSPI Index rose by 2.7% and 3.26% respectively.

In terms of petrochemicals, Marathon Oil, Exxon Mobil, Total, and Bayer in the US stock market, and CNOOC and Tiande Chemical in the Hong Kong stock market all saw slight increases, which also made chemical workers feel more concerned about the tigers in Shanghai and Shenzhen. The opening of the first battle of the year placed great expectations.

In addition, the international crude oil has continued to rise recently and hit a new high in the past seven years, and the inventory is at a historically low level, there is a possibility of a squeeze-style surge. The international oil price broke through the US$90 mark, reaching a maximum of US$93.17, and Brent crude oil reached a maximum of US$93.70. Oil prices rose 17% in January, the biggest gain in January in at least 30 years, with major investment banks and oil companies predicting oil prices could soon top $100 a barrel.

With the end of the Spring Festival holiday in the Year of the Tiger, many industries have started construction one after another. In particular, the expansion of investment ends such as real estate and infrastructure has led to stronger demand, and just need to purchase commodities. On the whole, supply and demand will become the dominant factor affecting the price of chemical products again in 2022. As for whether the popularity will continue after the "good start", it is worth waiting and seeing.