July 28 crude oil pressure drop even with PVC or shock consolidation

Even the PVC** closed up within a narrow range on the 27th, with the main contract 1201 contract closing at 8,445 yuan/ton, up 40 yuan. Yesterday PVC fell after a short period of high impulse, and it closed at a cross star and lacked further kinetic energy. The external economy is long and short, no obvious positive pull. At present, the spot market transactions are still poor, and the lack of downstream demand has caused spot prices to continue to rise. Technically, the PVC8500 has a heavier pressure. Crude oil fell sharply overnight, and it is expected that even in the short term, PVC will maintain its consolidation.

Crude oil on the New York Mercantile Exchange (NYMEX) closed lower on the 27th as crude oil inventories unexpectedly increased last week. At the same time, the U.S. government and Congress are still unable to reach an agreement on raising the federal government’s debt ceiling, prompting the market to doubt the prospects for crude oil demand. NYMEX September light crude oil prices fell 2.19 US dollars to close at 97.40 US dollars a barrel, a decrease of 2.2%. ICE Brent crude ** settled down 85 cents to $117.43 a barrel, down 0.7%.

The U.S. Department of Energy’s Energy Intelligence Agency reported that US crude oil inventories increased by 2.3 million barrels last week. At the same time, US refineries have reduced operating rates, suggesting that demand for refined fuel may weaken during the summer driving season. At the same time, the unexpected drop in durable goods orders in the United States in June added to concerns about the slowdown in the world’s largest oil consumer countries’ economic growth, and also suppressed the drop in oil prices. The U.S. Department of Commerce reported that US durable goods orders fell by 2.1% in June, up from 1.9% in May.

Asian ethylene market, the Northeast Asian market increased slightly by 1 US dollars / ton to 1150.5-1152.5 US dollars / ton CFR, the Southeast Asian market continues to maintain stable operation, CFR closed at 1175.5-1178.5 US dollars / ton. The atmosphere in the Northeast Asian spot market was moderate, and there was an increase in local device parking information and demand was gradually rising. After Formosa Petrochemical's annual production capacity of 1.2 million tons of No. 3 steam cracker is scheduled to be stopped in August, the end user will make an exploratory inquiry. However, social inventory remains high and destocking will continue.

Spot, Qilu Chemical City PVC market transactions in general, the market tepid, individual Yindie, ordinary calcium carbide type 5 material Taishan salinization material does not include taxes 7270 yuan / ton, Shandong Xinfa does not include tax report 7310 yuan / T; Hangzhou PVC market to maintain a stalemate, the current type 5 ordinary electric stone, the mainstream quoted in the 7750-7850 yuan / ton. The overall downstream demand is flat and the price is difficult to increase.