Chemicals fall hard in the early years of plastics

Dalian Commodity Exchange Plastics 1505 fell 255 yuan/ton on the first day of the new market opening, or a drop of 2.97%, to close at 8,330 yuan/ton, with 779,000 contracts and 403,000 positions. PP1505 fell more fierce, fell 375 / ton throughout the day, a decrease of 4.70%, to close at 7597 yuan / ton, turnover of 562,000 hands, holding 265,000 hands, PP1501 contract will be sealed at the opening of the daily limit to close at 9131 yuan / ton.

According to the report data of China Plastics Information Holdings, as of December 31, 2014, the total inventory of major domestic PP and PE markets continued to decline, which was a decrease of 4.87% from the end of last month and a decrease of 2.15% from the same period of last year. In terms of inventory structure, both PP and PE inventory have declined. In the first half of this month, PP stocks decreased by 2.53% from the end of last month and increased by 1.19% over the same period of last year; PE inventories decreased by 5.66% from the end of last month and 3.26% from the same period of last year. From a regional perspective, stocks in both the North and South declined this month. Northern inventories decreased by 3.64% from the end of last month and increased by 1.16% over the same period of the previous year. Southern inventories decreased by 5.65% from the end of last month and decreased by 3.93% from the same period of last year. In general, inventory in December not only continued to decline, but also declined.

On the first day of the market opening, LLDPE's ex-factory price was generally stable, and prices in some regions were mixed. Fujian Joint 7042 was priced at 9,650 yuan/ton, and Guangzhou Petrochemical 7042 was priced at 50 yuan/ton to 9,850 yuan/ton, Maoming Petrochemical. 7042 pricing report 9800 yuan / ton, Qilu Petrochemical 7042 pricing reported 9,500 yuan / ton, Yangzi Petrochemical 7042 pricing reported 9900 yuan / ton, PetroChina East China 7042 pricing reported 9900 yuan / ton. PP ex-factory price fell, Daqing Petrochemical T30S pricing down 200 yuan / ton to 9,000 yuan / ton, Fujian Joint T30S pricing report 9,600 yuan / ton, Maoming Petrochemical T30S pricing down 200 yuan / ton to 10,100 yuan / ton, Qilu Petrochemical T30S Pricing reported 9,250 yuan / ton, China Eastern East China T30S pricing reported 9,200 yuan / ton.

Affected by the expected decline in inventories, the prices of plastics and PP spot markets rose in the last week of last month, and prices also rebounded. However, before the holidays, we still believe that the rebound is short-lived. It is not recommended to hold more than one holiday. Plastics and The downtrend of PP has not changed. Although from the inventory data, plastic and PP inventory have declined, and the decline has widened, but only to bring a wave of rebound in the market mood, inventory reduction has not played a role in changing the market. Today's opening of plastics and PP have fallen sharply. On the one hand is outside the crude oil to maintain the decline, the WTI February contract is currently the lowest fell to 51.44 US dollars, away from 50 US dollars only one step away. On the other hand, the domestic market continued to be sluggish, and the plastic 1505 contract of 8,000 yuan was still on the front line.