ABS weekly review: rebound hopeless, cautious view
1. violence in Nigeria and the United States and Iran tensions lead to oil supply threat, American air temperature drops, the dollar is down again to the euro, the beginning of the week by the support of international oil prices rose; however, the obvious signs of economic slowdown in the United States, crude oil inventories for the first time in 9 weeks on demand growth, limited oil prices rose after falling about pulling. The benchmark crude oil futures in Europe and the United States have risen sharply in the past week, falling to the lowest level in the year. International oil prices have fallen by 10% this year.
2. dollar depreciation, Asian styrene market changed the style of the past, and the trend of domestic CFR China China draw further apart, continuous record high at $13551365 on Thursday, 1305, 1340, 1350 in the near future, the price of $1360 sold. China's regional price reappearance upside down situation. This week, Jiangsu quoted a slight pullback of 150 yuan / ton, the mainstream price of 11050 yuan, the next week ahead of the pre-sale at 10950 yuan.
Mainly concentrated in the oil sales company's 3. this week the price of East China enterprises, most manufacturers offer steady, the actual price is not much change, some manufacturers have clearly felt the holiday is approaching the sales pressure.
4., the mainland and Hongkong markets continue to maintain a narrow range of consolidation trend, the enthusiasm of the parties declined. Traders are mostly stable operation, not willing to take goods for the new year.
5. seasonal demand is light, some terminal enterprises consider shutting down or low load start. Some enterprises are mainly based on the return of funds, the market attention is reduced, but fortunately, the current market resources have not been a lot of precipitation and accumulation, the market for the stock of subordinate to the general level. But the digestion speed of resources slowed down.