Ex-factory price on Friday of basic petrochemical LLDPE steady, down only slightly for individual manufacturers to offer, 7042's offer of 11200-11600 yuan / ton. LLDPE spot market fell slightly, the 7042 price range is 11000-11450 yuan / ton. Chinese New Year approaching, the majority of businesses in order to reduce inventory shipments mainly positive downstream overstatement wait and see attitude, then set the intention to enter the market is not high volume stalemate.
central New York Mercantile Exchange (NYMEX) crude oil futures inched up 14 closed due to the stock market boom and upbeat U.S. economic data boost to China to tighten monetary policy enough to offset the negative impact. NYMEX February crude oil futures contract settled up $ 0.14, to $ 91.54 a barrel, or 0.2%, week, rose to 4%.
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macro level, the Federal Reserve releases its Beige Book, expressed optimism about the U.S. economic outlook. Towards the end of 2010, the U.S. economic momentum has increased, and the improvement in employment levels, but lower inflation pressures, the labor market remains weak. Geithner also pointed out that U.S. economic growth may be the emerging economies of the half, but twice in Europe and Japan, which further improved market risk sentiment, the dollar index was weak.
Dalian plastic (LLDPE) futures down 17 early weakness. Main 1105 contract opened 12,355 yuan / ton, closing 12,220 yuan / ton, down 65 yuan / ton, 222,800 hand-volume, open interest was 201,752 hands. Weaker dollar and higher oil prices on Friday for a certain period of price support, but gradually weakened downstream demand and again the weekend national monetary policy tightening may make short-term market volatility, but no significant impact medium-term trend. Still the main short-term shocks of plastic. Operation, careful investors wait for the time being.
news side, the People's Bank of China announced that from January 20, 2011, the raised deposit-taking financial institutions of RMB deposit reserve ratio by 0.5 percentage points. The increase from December 20, 2010 raised the deposit reserve ratio by 0.5 percentage points from a very short time, after the deposit reserve ratio rise will reach a record high of 19%. Short-term liquidity crunch countries will suppress the market process.
ethylene CFR Asia on Friday to close at 1254.5-1256.5 Northeast Asia, U.S. dollars / ton (up $ 24), CFR Southeast Asia, to close at 1114.5-1116.5 U.S. dollars / ton (up 14 dollars). European ethylene FD North West Europe to close 1095.5-1100.5 euro / ton (up EUR 35), CIF Northwest Europe to close 1350.5-1355.5 U.S. dollars / ton (up $ 60.)
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