International oil prices plummeted and manganese silicon production was severely lacking
PTA: PTA followed the oil price plunge.
Tuesday night TA2209 closed down 5.18%. Fuhaichuang parking maintenance, PTA load down, terminal weaving demand off-season, downstream polyester plants to reduce production, fundamental supply and demand are both weak, but PTA low inventory reality to support the base difference strong. Overseas recession concerns remain, overnight oil prices fell sharply, PTA cost loosening downward, processing fee neutral high. Short-term PTA absolute prices follow the cost fluctuations, pay attention to the trend of crude oil prices. Short-term short-side operation is recommended.
Polyolefins: crude oil prices fell polyolefins continue to be weak.
Tuesday night trading plastic 2209 closed down 0.37%, PP2209 closed down 0.42%. The current domestic overhaul is more, imports remain low, supply pressure for the time being, downstream demand improvement is weak, the start-up load is low, the plant raw material procurement will be insufficient, the fundamentals maintain the supply and demand weak pattern. Short-term global macro environment is volatile, domestic epidemic disturbance still exists, the overall weakness of the commodity market, polyolefins follow the general trend of weakness, pay attention to oil prices and macro sentiment changes. Short-term operation is recommended.
Crude oil: fears of weakening oil demand international oil prices fell sharply.
International oil prices fell sharply on the strength of the U.S. dollar index, fears of weakening oil demand, restrictions on oil flows and concerns about a global economic slowdown. On Tuesday OPEC released its July Monthly Oil Market Report, this time with OPEC's daily average world oil demand and non-OPEC supply estimates unchanged for 2022, while forecasting slower oil demand growth in 2023. Technically, oil price SC2208 short-term oscillation is weak. Operating recommendations: oscillatory short-side ideas to operate.
Rubber: weak tire demand Rubber price shocks turn weak.
Supply and demand contradictions in the short term no significant improvement in downstream demand, tire factories facing weak domestic sales, high inventory dilemma, enterprise start-up load is still difficult to significantly improve, raw material demand side lack of favorable support. Upstream glue supply increased and prices weakened. Commodities fell in general, and rubber also showed signs of breaking down. Technically, the rubber price RU2209 oscillation turned weak. Operation advice: oscillation short ideas operation.
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