Market dynamics: Plastic demand may enter the off-season
发布时间：
2022-09-30
On the macro front, the economies of China, the US and Japan continue to improve, but at a slower pace; The eurozone economy continues to shrink. The purchasing price index fell from 55.5 to 50.6 in March, the raw material inventory index fell from 49.5 to 47.5, and finished goods inventory rose from 46.6 to 50.2. These data show that: 1. Low end consumption leads to the increase of finished product inventory; 2. 2. Rising inventories of finished products and falling prices of raw materials make enterprises passive destocking. This situation is not expected to change in the second quarter.
On the macro front, the economies of China, the US and Japan continue to improve, but at a slower pace; The eurozone economy continues to shrink. The purchasing price index fell from 55.5 to 50.6 in March, the raw material inventory index fell from 49.5 to 47.5, and finished goods inventory rose from 46.6 to 50.2. These data show that: 1. Low end consumption leads to the increase of finished product inventory; 2. 2. Rising inventories of finished products and falling prices of raw materials make enterprises passive destocking. This situation is not expected to change in the second quarter.
The eurozone is not improving and the US economy continues to expand, but at a slower pace. Only 88,000 nonfarm jobs were created in March, well below the 187,000 monthly average so far in the third quarter of last year, and the participation rate fell to a new low of 63.3%. Although prices are still rising, the National Association of Home Builders' index of activity has fallen for two months in a row; U.S. bank loan growth slowed again in January, especially in the mortgage sector. So America's growth engine is disappearing under the US deficit-reduction act.
In terms of monetary policy, the central bank will minimize the adjustment of interest rate/reserve requirement rate, but continue to maintain the overall liquidity adjustment by positive/reverse repo. With little inflationary pressure, market funds are expected to remain balanced.
From crude oil inventory, crude oil CFTC position, are facing upward pressure. And recently the three major oil agencies continued to cut this year's oil demand forecast. Three institutions for the future market demand are not optimistic. Hence the downward pressure on crude oil. PE supply and demand side: Entering April, domestic petrochemical enterprises will increase the maintenance of equipment, but if Daqing Petrochemical starts in April, it will reduce part of the supply side. In terms of demand, the current operating rate of downstream enterprises is reasonable. The second quarter is the traditional off-season for demand, and downstream manufacturers purchase on demand.
But at present, petrochemical enterprises are willing to offer strong, so the futures price is expected to bottom out after two months of decline.
keyword:
plastic
Recommended
Baoding Maohua Plastic Products Co., LTD
Tel：0312-6921540
Phone：13722225651 13582051116
Email：bdmhsl@163.com
Address: No. 66, Jixiang Street, Dingxing County, Baoding City, Hebei Province
Douyin
Public
Copyright © 2022 Baoding Maohua Plastic Products Co., LTD