While their chemical fundamentals are good, the autumn season maintenance device centralized maintenance, the downstream replenishment behavior after eleven exacerbated the tight supply situation, the strong support of chemicals. In addition, chemicals go strong, also indicates that the futures market started moving round plate.
Oil shocks, chemicals rose
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In trading on Friday, New York and London in recent months, crude oil futures prices fell 2% and 1.5% respectively. From the weekly view, the two are in decline around 4%, the highest since mid September its worst week. The opening on Monday, the domestic chemicals futures continue to “take cities and seize territory”, rising force. At the close, methanol, PVC, PP three futures main contract trading; PTA, natural rubber, asphalt and other varieties in the surrounding varieties under the drive of the red.
This is not the first time chemicals and crude oil futures trend apparent differentiation. Due to unique characteristics of the chemical industry chain, chemicals futures trend is relatively crude oil futures trend is indirect and obvious lag. It is not inconsistent with the two movements is not reasonable, especially in the crude oil into the volatile chemicals, often out of a wave of independent market.
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