O-benzene universal resin 350, double ring (DC) hand paste resin 290, artificial stone / quartz resin 310, pultrusion resin 300, winding structure layer resin 320, winding m-benzene lining resin 270, NPG molding resin 330, DPG molding resin 270. The price of crude oil fluctuated greatly, the price of raw materials rose in an all-round way, the cost of resin rose sharply, and the market price of resin rose 200 yuan again.
This week, driven by the double forces of the huge fluctuation of international oil price and the market speculation of capital management funds, the chemical raw material market showed a comprehensive and significant upward trend, with the prices of some varieties skyrocketing by more than 20%, and UPR manufacturers were forced to follow, raising the prices of resin products again. Due to the continuous improvement of terminal market demand and the basic short position of downstream customers, the sales volume of UPR production enterprises generally increased significantly under the psychological effect of buying up and not buying down, and the whole UPR industry presented a situation of volume and price rising. After many negotiations, OPEC + finally reached an unprecedented production reduction agreement in the early morning of Beijing time, starting from May 1 in stages, with the first production reduction of 9.7 million barrels / day, and G20 countries also indicated that they would follow OPEC to implement production reduction. For this agreement, the market is in a state of contradiction. Although the number of production cuts is the most in all previous production cuts, it still cannot offset the huge contraction of international crude oil demand under the influence of the new coronavirus. At the same time, when can G20 countries follow up the production cuts and how large the production cuts will be? There is still a great uncertainty at present. Therefore, the international oil price will significantly weaken the support for the chemical market. On the other hand, the capital management funds that enter the market and hype the market in the early stage are long in the early stage, but at the same time, they are also likely to be short in the later stage, resulting in a large fluctuation of some product markets. Therefore, we hereby remind relevant enterprises to be cautious about the changes of market situation and not blindly pursue the high. After all, both the global market and the domestic market are still in the extremely weak stage, and the inventory is still high. With the worsening of foreign trade export situation, the follow-up market is hard to be optimistic.
Source: unsaturated resin Association
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