September 20, the European ethylene market closed up part of the price, FD Northwest Europe prices unchanged, to close at 995-999 euros / ton; CIF Northwest Europe prices rose 2.5 US dollars / ton, to close at 1182-1186 US dollars / ton.

September 20, the European styrene market FOB fell 1 US dollars / ton, ARA reported 1336-1337 US dollars / ton.

First, the price trend

According to the price of the business community monitoring, this week the domestic calcium carbide market prices, the weekend manufacturers offer the average price of 2715.00 yuan / ton, the factory price this week, the average price of 2754.44 yuan / ton, offer up 39 yuan / ton, or 1.43% With the same period last year rose 14.77%.

Second, the trend analysis

(A) products: domestic calcium carbide factory prices generally rose last week, Inner Mongolia Wuhai, Ordos region calcium carbide mainstream ex-factory price 2750-2800 yuan / ton; Inner Mongolia Wumeng area a product price 2780-2850 yuan / ton; Ningxia Shizuishan area calcium carbide The mainstream ex-factory price 2750-2850 yuan / ton; Shaanxi factory 2750-2850 yuan / ton; Gansu 2800-2850 yuan / ton. Affected by the increase in procurement costs of raw materials, September 11 – September 15, calcium carbide manufacturers a wave of price increases, calcium carbide factory price generally raised 50-100 yuan / ton.

(B) industrial chain:

Upstream raw materials market, coke September 15 offer the average price of 2182.50 yuan / ton, compared with September 11 offer average price of 2095.00 yuan / ton, up 4.18% over the same period last year rose 78.35%, cost increases, to promote calcium carbide prices.

Downstream PVC market fell, the formation of the impact of calcium carbide fell this week, the overall domestic PVC prices fell slightly as a whole. Take the sample calcium carbide SG5, for example, the beginning of the week to maintain the price of 7566.67 yuan / ton, the weekend fell to 7558.33 yuan / ton, the price fell 0.11% during the week, prices rose 24.78%. PVC futures market fell on Wednesday, from the beginning of the week 7430 yuan / ton, down to the weekend of 7160 yuan / ton, down 270 yuan / ton. This week the domestic PVC enterprise equipment operating rate decreased, calcium carbide procurement demand decreased, calcium carbide significantly.

(C) macro:

According to the price monitoring of the business community, the first half of 2017 (9.11-9.15) commodity prices rose in the list of chemical stocks in the ring than the rise of a total of 43 kinds of goods, the decline in the total number of 14 kinds of goods, this week, the chemical plate were up and down 1.23%.

Third, the market outlook forecast

Calcium carbide prices continue to rise this week, the market outlook, affected by environmental supervision, PVC enterprises to stop production limited production enterprises, PVC equipment operating rate in the low, calcium carbide demand decline, the formation of negative calcium carbide market, but the raw material prices rose, Factor is the main factor supporting the rise in calcium carbide this week. Although the rising price of raw materials, making the cost of calcium carbide to further increase, but PVC demand decline, can not pull calcium carbide prices, is expected next week, calcium carbide prices will rise slightly, but the space is limited, calcium carbide prices will be Slightly adjusted, the price maintained at 2750-2850 yuan / ton.

Venezuelan President Mahro said the country has begun to use the yuan to replace the dollar for crude oil.

US President Trump in August announced the imposition of new sanctions on Venezuela, including the prohibition of US companies on the Venezuelan government and the national oil companies were issued, the payment date of more than 30 days and 90 days of new debt, securities transactions, while prohibiting a series of Venezuela Country-owned existing debt transactions and dividends paid by the Venezuelan government.

In response to the new sanctions imposed by the United States, Venezuelan President Mahduro also announced that it would use the currency, euro, yen and other currency baskets in international payments, thus freeing the country from dependence on the dollar. Foreign media that this move is in the positive US sanctions.

Venezuela’s oil ministry on Friday listed September yuan-denominated oil prices, including the first few weeks and the first few months of dollar-denominated oil prices. The Venezuelan government has ordered oil traders to stop accepting or initiating dollar payments.

Venezuela, the world’s largest oil reserves, is a blow to the dollar, regardless of progress, even if the current global oil market is still overwhelmingly trying to trade dollars. In the case of

Over the past two years, Qatar and China have traded in RMB worth $ 86 billion and have signed an agreement with China to encourage further economic cooperation.

Russia has also begun to accept RMB payments in 2016, becoming China’s largest crude oil partner, and repeatedly surpassed Saudi Arabia as China’s largest importer of crude oil. Earlier this year, Iran also gave up the dollar in response to President Trumb’s travel ban. The position of the renminbi in the international oil market is becoming more and more important.

US WTI October crude oil futures electronic prices Friday (September 15) closed up 0.11 US dollars, or 0.22 percent, to $ 49.83 / barrel. This week the contract rose nearly 5%, is the last two months of the strongest weekly performance; due to increased demand for crude oil, and the United States refinery to resume production.

At the same time, ICE Brent crude oil futures in November closed up 0.2 US dollars, or 0.36 percent, to $ 55.48 / barrel. This week rose for the third consecutive week, up 3.3%, the largest weekly increase since the end of July.

Anticipated demand for crude oil is expected to increase

The Organization of Petroleum Exporting Countries (OPEC) is expected to see growth in 2018 this week, pointing out that global oil markets have signs of tightening, showing that a cut-off agreement with non-OPEC countries has helped to ease oversupply.

Previous reports from the International Energy Agency (IEA) reported that oversupply was declining due to strong demand in Europe and the United States, as well as lower OPEC and non-OPEC production.

Tradition Energy market research director Gene McGillian said it boosted the market and attracted new speculative bulls. In order to maintain the current high oil prices, the need for continued growth. McGillian pointed out that the weak demand in the fourth quarter may prompt traders to withdraw from long positions.

Baker Hughes oil drilling number drop

Energy companies this week to reduce the number of active rigs for the largest since January, which is the future output of the previous indicators. Due to weak oil prices, up to 14 months of drilling recovery trend stagnation.

Energy service company Baker Hughes said in a report closely that, as of September 15 the week, drillers to reduce the seven wells, the total number of wells fell to 749, the least since June.

Refiners return to good oil prices

Investors are also concerned about the further impact of US refineries on demand for crude oil after a disruptive production.

According to IHS Markit, as of Wednesday, 13 of the 20 affected refineries have been or are close to normal production capacity, and five more refineries are restarting or increasing production capacity.

HSBC Holdings analysts said that despite the disruption of US refinery production, but in 2017 will continue to be oil demand growth “strong” year, which is to support a key factor in rising oil prices.

HSBC Holdings to maintain the next year Brent crude oil were 65 US dollars / barrel and 70 US dollars / barrel of the estimated price.

British Petroleum chief executive Bob Dudley said oil prices will remain at $ 50-60 / barrel, as major oil producers are still doing