Crude Oil Soared 16%! PP, PE, PVC Rose More Than 3%

On March 1, affected by the escalation of tensions between Russia and Ukraine, international oil prices rose sharply. The main contracts of WTI crude oil and Brent crude oil both exceeded the $100/barrel mark, hitting a new high since 2014. On Monday, US oil rose nearly 11%. Brent oil rose more than 9%.

As of press time, crude oil is still skyrocketing!

It must be not only the editor who was bombed. Affected by the skyrocketing international crude oil, on March 2 (Tuesday time), the main domestic crude oil contracts have skyrocketed!

Then I discovered the outrageous event. In less than an hour, the domestic crude oil futures soared by 7.99% and directly hit the daily limit! The limit is up! Currently reported 663.9 yuan / barrel!

As of the publication date, the chemical raw material sector continued to gap up and open up! Totally crazy! Among them, PP futures rose by 3.64%, rising by 310 yuan in a single day, PE futures futures soared by 4.27%, and rose by 376 yuan in a single day, and PVC directly rose by 4.6%, and rose by nearly 400 yuan in a single day!

People who sell plastic really need to be mentally strong, otherwise the market and people will have to go crazy first!

The futures market has now "skyrocketed"! Completely separated from the technical surge, affected by this, some manufacturers in the spot market such as PP PE PVC have begun to raise spot quotations!

As of the morning of March 2, some manufacturers have raised their quotations. Among them, the increase in PVC is in the range of 100-330! The increase of PP powder is 100-280 CNY/ton!

If according to industry insiders' guesses, crude oil goes straight to $120, I believe that the madness of the raw material market will continue for some time!