The hottest oil price supports the upward oscillat

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The oil price supports the LLDPE oscillation upward

as the upcoming summer is the off-season, the production reduction or even shutdown of downstream plants further hit the market, but the high crude oil level advanced and the domestic petrochemical production capacity successively entered the production reduction or maintenance period in May, so LLDPE futures are still expected to oscillate upward

the US dollar continued to weaken

the US dollar continued to weaken. On the one hand, for the first time in 70 years, standard & Poor's downgraded the credit rating outlook of the United States from "stable" to "negative". S & P believes that the way for the U.S. authorities to solve the fiscal deficit and the increase in government debt is not clear, and the United States may not be able to get out of the budget dilemma before 2013, which is also a signal to the market that the dollar will remain weak. On the other hand, Spanish government bonds were successfully auctioned, and the market expected that the European crisis would be eased, while Europe was strongly expected to raise interest rates again. Both are positive for the euro

crude oil is still rising with sufficient momentum

the weekly inlay report of metallographic samples released by the American Energy Information Association shows that the inventory of crude oil and refined oil in the United States has decreased, and the inventory of gasoline applicable range oil has decreased for the ninth consecutive week. As of the week of April 15, the inventory of crude oil in the United States has decreased by 2.32 million barrels to 356.97 million barrels, and analysts had expected an increase of 1.1 million barrels. The OPEC monthly report predicts that the global average daily demand for crude oil will increase by 1.4 million barrels this year, which is consistent with the previous report. IEA's monthly report predicts that global oil demand will grow by 1.8% in 2011 and 2012, mainly from developing countries led by China. On the whole, the arrival of the summer driving peak season in the United States and the demand growth in developing countries, as well as inflation factors, will continue to support the upward oscillation of crude oil prices

petrochemical production capacity reduction and maintenance

due to the obvious decline in plastic profits, Sinopec plans to reduce the operating load of ethylene and reduce production, and announced the production reduction plan for may on Tuesday. In terms of production scheduling, some units of PetroChina are scheduled to be overhauled, the small ethylene unit of Dushanzi Petrochemical is scheduled to be overhauled from June 20 to August 10, the large ethylene unit is scheduled to be overhauled from July 19 to September 29, the high-pressure unit of Lanhua is scheduled to be overhauled from April 19 to May 2, and the low-pressure/linear unit of Jihua is scheduled to be overhauled for one month in June

the production reduction of Sinopec units and the overhaul of PetroChina units in May will alleviate the current domestic pressure supply to a certain extent, but with the advent of summer, the downstream demand of LLDPE is still sluggish

at present, the US dollar continues to weaken, and the commodity market is still in an inflation LED market. Driven by the approaching summer driving peak in the United States and the growing demand in developing countries, crude oil is expected to exceed $115/barrel. Moreover, Sinopec and PetroChina cut production and maintenance, and the short-term spot supply pressure is expected to ease. In summary, it is expected that the short-term market will be dominated by oscillation. In terms of operation, it is mainly to build warehouses step by step, with 11600 yuan as the support for the piston to run downward, and the target price is 12500 yuan

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