EVA Plummeted 1000, POM Plummeted 2500

Affected by the OPEC+ production cut remarks, the price of crude oil has risen recently, and the performance of crude oil futures in the intraday session is much stronger than the trend of international oil prices!

On August 24th, the main contract of SC crude oil in the inner disk surged by 5.05% to close at 734.1 yuan/barrel; on August 25, the main contract of SC crude oil in the inner disk closed up 3.67% to close at 745.2 yuan/barrel, continuing to hit a record high. A new high in two months, setting a strong performance of "Seven Lianyang".

However, the sluggish demand for refined oil shown in the EIA weekly report is still a hidden concern, and the Iranian issue is still possible. At present, the "final text" proposal has been approved by the US side. The US side said that if Iran accepts the text of the agreement, the US side will also prepare quickly Finalize the agreement. The return of Iranian crude oil has become a major variable on the supply side. Although some OPEC members continue to follow up their positions to support production cuts and support prices, they mainly stay in words, which are directly related to whether the Iran nuclear deal is reached, and may be strongly opposed by major global consumer countries. At present, the uncertainty of crude oil at the cost side is still relatively large, and its own fundamentals are still tight (US attitude towards Iran, European energy status).

Under the firmness and strength of crude oil, plastic futures rose slightly, and some brands such as PP, PE, PVC also began to test the price!

However, due to the really sluggish downstream demand, there are still a lot of plastic raw materials that cannot be supported, and POM has plummeted by 2,500 CNY/ton in a single day!

The domestic POM market prices are often down, with varying declines. Some brands have dropped sharply by 900-1500 CNY/ton, and POM/Taiwan Poly/M90-44 has plummeted by 2,500 CNY/ton in a single day. There is still a certain pressure on the supply side, the trading attitude of POM operators is not good, the mainstream offers will continue to make profits, the terminal construction load is insufficient, the pace of follow-up of firm offers is relatively slow, and the transaction situation is hard to say optimistic, it is expected that the short-term domestic POM market will be weak and sorted out .

The domestic PC market is weak and fluctuating. With the rising raw materials, the cost pressure of PC manufacturers continues to increase, and the low-end materials are losing money again. The market is still down in southern China. PC/Jiaxing Teijin/1250Y fell by 250 CNY/ton in a single day. Difficult to shake, and actively follow the shipment without changing.

In the domestic EVA market, the offer was chaotic, the center of gravity was lowered in a narrow range, the firm offer was partial to transaction negotiation, traders were divided, and the downstream terminal demand was against the high-priced offer. In the Xiamen market, EVA/Lianhong/UL00428 plummeted by 1,000 CNY/ton in a single day.