1. PTA futures fell to the limit, and ethylene glycol fell sharply! (Popularity: ★★★★★★★★)
On March 10, most domestic commodity futures closed lower, PTA fell to the limit, and ethylene glycol , staple fiber, methanol, etc. fell more than 5%, crude oil fell more than 3%, and Zheng cotton fell more than 2%.
2. The United States’ $1.9 trillion “spending money” is just around the corner. Will it stimulate the surge in raw materials? (Popularity: ★★★★★★★)
The closely watched $1.9 trillion economic relief plan was voted by the U.S. House of Representatives on Wednesday and will be submitted to the President of the United States last Friday Biden signed. Boosted by the good news, the Dow and S&P 500 expanded their gains during the session, with the Dow once rising by more than 550 points. As we all know, the US dollar inflationary pressure generated by the US$1.9 trillion in additional currency issuance by the United States will be paid by the world. If the currency is loosened, bulk raw materials will be the first to bear the brunt! Regarding the recent price increases of various products seen in almost all circles of friends, it is actually mainly because the raw materials end has benefited from the supply-side reform, resulting in more concentrated production capacity, and due to the continued shrinking of demand, low-price competition for end products has made hot money unprofitable. , with the blessing of hot money and the fuel of the media, commodities are being speculated as investment products. Driven by excess liquidity and profiteering, capital and material companies conspired to hunt down the masses again and again.
3. Saudi Arabia’s oil center was hit by air strikes again, and international oil prices soared past 70 US dollars (Hot: ★★★★★★ )
Last month, the international investment bank Goldman Sachs boldly predicted that the price of Brent crude oil will reach US$70 in the second quarter of 2021. It will reach $75 in the third quarter. The words came true. The second quarter has not yet arrived, and with the help of unexpected factors, the price of Brent crude oil has exceeded 70 US dollars. On the evening of March 7, local time, a huge explosion was heard over the city of Dhahran in eastern Saudi Arabia. Fortunately, neither attack caused any casualties or property damage. Affected by this news, international oil prices rose sharply. Brent crude futures traded at $70 a barrel for the first time since January last year. WTI crude futures hit $67 a barrel for the first time since October 2018.
4. Ease of currency + production recovery + supply exceeds demand, and raw materials set off a price surge (hotness: ★★★★★)
Since this year, among the 57 major commodities, 30 commodities have increased by more than 10%, 11 commodities such as crude oil and polymerized MDI have increased by more than 30%, and pure benzene has increased by more than 30% during the year. It is more than 50%. First of all, the Federal Reserve’s quantitative easing was the trigger; on the other hand, developed economies took the lead in realizing large-scale vaccination, which brought about a recovery in demand and production, but resource countries did not, and supply remained at a low level, intensifying the crisis at the physical level. The contradiction between supply and demand; thirdly, the continued deflation of industrial products after 2012 has led to a substantial reduction in overcapacity by domestic raw material companies, which is also a major reason for this increase in raw material prices.
5. The unveiling ceremony of Xinyi Industrial Base of Xinfengming Group was successfully held (Popularity: ★★★★)
On the morning of March 10, the unveiling ceremony of Xinyi Industrial Base of Xinfengming Group was successfully held in Xinyi, Xuzhou. Xinyi Municipal Party Committee Secretary Chen Tangqing, Municipal People’s Congress Deputy Director Ma Lin and the main persons in charge of the Municipal Economic Development Bureau, Transportation Bureau, Assets Regulation Bureau and other relevant departments, Group President Zhuang Yaozhong, Group Vice President and Xinyi Base General Manager Li Guoping are members of the Xinyi project Participate in this unveiling ceremony together.
6. The demand for downstream textile printing and dyeing has recovered, and the price of disperse dyes has increased by nearly 7% (Hot: ★★★)
3 On March 8, the market price of disperse dyes in Jiangsu and Zhejiang increased by nearly 7%, and the cumulative increase in the past month has reached 20%. The domestic dye industry has a high degree of concentration, with the concentration ratio of the top three disperse dye companies reaching 60%. Recently, affected by the rapid rise in international crude oil prices, the price of dye intermediates has increased. In addition, downstream printing and dyeing companies have seen a surge in start-up orders, and demand in the dye industry has begun to pick up. CITIC Securities believes that the downstream textile printing and dyeing industry market is actively recovering, and the dye industry chain is expected to maintain an upward trend.
7. China’s foreign trade got off to a good start: exports surged by 60% in the first two months and imports increased by 22% (Hot: ★★)
According to customs statistics, in the first two months of this year, the total import and export value of my country’s goods trade was 5.44 trillion yuan, which was 5.44 trillion yuan compared with the same period last year. (The same below) an increase of 32.2%. Among them, exports were 3.06 trillion yuan, an increase of 50.1%;Exports were 2.38 trillion yuan, an increase of 14.5%; the trade surplus was 675.86 billion yuan, compared with a deficit of 43.3 billion yuan in the same period last year. In U.S. dollars, my country’s total import and export value increased by 41.2% in the first two months. Exports increased by 60.6%; imports increased by 22.2%.
8. China announced its formal approval of the RCEP Agreement (Popularity: ★)
A few days ago, Minister of Commerce Wang Wentao said that the Chinese government has officially approved the agreement, and some member countries are also accelerating its progress. It is hoped that relevant countries can speed up the progress and eventually reach 6 The threshold for approval by ASEAN member states and three non-ASEAN member states will come into effect. The earlier it is approved, the sooner it will benefit the people of all countries. After the signing of RCEP, it means that the region accounting for one-third of the world’s economic aggregate can form a unified market. </p
