Commodities Update: As of 08:00,
Gold: 1.41%
Silver: 1.27%
Oil – US Crude: 0.77%
- S&P 500 Aiming Higher on Vaccine Progress Despite Gridlock Fears
- Gold Prices Regain Strength After Falling 4.5% as Vaccine Enthusiasm Fades
- Hang Seng and ASX 200 Rise on Vaccine Hopes, Tech Drags Nasdaq Lower
- EUR/USD Slides Lower as Weak German Economic Sentiment Sparks New Recession Fears
- USD/JPY May Rise on Vaccine Hopes Despite Election Dispute, Chinese CPI Eyed
- USD/JPY, POST-ELECTION TRADES UNWIND, CHINESE INFLATION DATA – TALKING POINTS
- Markets aimed higher during risk-on U.S. session following vaccine headlines
- US Dollar moves higher as post-election trades unwind on election clarity
- USD/CNH at multi-year low; Chinese October inflation data on tap
2020/11/10. USD TO CNY TODAY.
Actual USD to CNY exchange rate equal to 6.6102 Chinese Yuans per 1 Dollar. Today’s range: 6.5960-6.6280. Previous day close: 6.6300. Change for today -0.0198, -0.30%.
Biden locked the US election victory, the market bet on the dollar was lower, and the global stock market rose sharply. Meanwhile, positive progress was made in vaccine research and development in Europe and the United States. Opec+ production reduction policy adjustment was stronger than expected, and international oil prices rose strongly. On the gasoline side, yesterday refinery shipments were smooth, with an upward intention. In terms of mixed C5, the refinery has low inventory operation, sufficient underlying gas, and crude oil is greatly increased, and it is expected that the market will rise steadily today.
Separated products:
Mixed C5 increased by 20-30 yuan / ton to 3060-3100 yuan / ton in Shandong, and stabilized at 2950-3060 yuan / ton in East China. The remaining C5 is 3050-3300 yuan / ton in Northeast China, 2900-3000 yuan / ton in North China, 2950-3000 yuan / ton in Central China and 3000-3130 yuan / ton in South China.
The main delivery price of isoprene in China is 8000 yuan / ton, and the market inquiry is positive. SIS is expected to increase production and demand for isoprene this month. At present, the profits of isoprene rubber and sis are better, which supports the isoprene market. Isoprene is expected to rise today.
The mainstream self raised price of m-pentadiene in China is 8400-8700 yuan / T. Sinopec is still in shutdown, and the price of adhesive resin is firm, which has certain support for the isoprene market. The supply of m-pentadiene is slightly tight, and the market is slightly firm.
The domestic market of dicyclopentadiene is still weak. With the increase of maleic anhydride price, the bicyclic pressure will increase, and the price may continue to run downward. At present, DCPD hydrogenated resin is in operation and maintained, but the raw material inventory is relatively sufficient, and the intention of large-scale purchase is not high, and the double ring export is also reduced, and the domestic inventory is facing the risk of recovery. Affected by the sudden shutdown of LG cracking unit in South Korea, the export market may recover, and the industry will wait and see.
C5 petroleum resin:
At present, the market volume is scarce, a small amount of rosin is going down, the price of rosin is too high, and the price of rosin resin is temporarily stable. The market price of turpentine is 27000-28500 yuan / ton in Jiangxi Province, 11500 yuan / ton in Jiangxi Province, 14500-15000 yuan / ton in 138 resin, 14700-15500 yuan / ton in resin market. In the short term, the rosin market is still out of stock. Most of the manufacturers believe that the price of rosin will still rise after the periodical adjustment. The rosin resin manufacturers have few orders and supply.
rosin
At present, the mainstream transaction price of C5 petroleum resin for road marking paint is 10000-10600 yuan / ton. At the beginning of the week, the orders of various manufacturers are concentrated, and the inventory is almost empty. The sporadic load of manufacturers is reduced, the supply is tight, and there is still partial shortage in the short term, and the price is mainly stable. The transaction price of C5 petroleum resin for adhesive is between 12000-13000 yuan / ton, and the price of rosin resin is at the beginning of the week In the short term, C5 petroleum resin is out of stock, and the focus is on the high-end price range.
