The hottest southwest futures was dragged down by

2022-09-23
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Southwest Futures: dragged down by the sharp decline in oil prices, LLDPE was closed to the limit

as overnight worries about Hurricane Gustav will seriously damage the U.S. oil industry were eased, the storm weakened before landing in Louisiana, and oil prices fell sharply by more than $4 to $111.22/barrel on Monday. Dragged down by it, LLDPE fell sharply today. After the opening of the main month 0901 contract, it fell all the way to the down limit, opening 13380 yuan, the highest 13380 yuan, the lowest 12990 yuan, and closing at 12990 yuan at noon, a sharp drop of 540 yuan from yesterday. In the spot market of LLDPE today, the China Plastics price index fell 19.94 points to 1319.96 points, and the China Plastics spot index also fell 0.48 points to 1327.92 points. The atmosphere in the spot PE market was poor. Sinopec's policy was finally released by the EIA of Bayer materials technology's 310000 ton/year TDI technological transformation and expansion project. Linear high-voltage price reduction and low-voltage original price were listed. Traders were highly enthusiastic about this, but the demand of downstream factories was still not significantly improved, and they still took a wait-and-see attitude and were not active in picking up goods. The upstream of LLDPE fell sharply today, and the closing price of Brent crude oil futures was $109.41/barrel, down $4.64. The latest close of Asian ethylene fell sharply. Technically, the research object can be a single object, jumping out of the early adjustment range and breaking through several moving averages. Suggestion: wait and see for the trend to become clearer

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