Last week (July 3-7), the rise became the main tone of the oil and chemical index.
In the chemical sector, the chemical raw material index fell by 1.03%, the chemical machinery index rose by 0.77%, the chemical pharmaceutical index rose by 0.20%, the pesticide and fertilizer index rose by 0.95%; in the petroleum sector, the petroleum processing index rose by 2.45% , The oil exploration index rose by 3.66% and the oil trade index fell by 0.40%.
In terms of energy, international crude oil prices rose. On the one hand, the Saudi Ministry of Energy recently announced that the voluntary reduction in crude oil production by an additional 1 million barrels per day, which began in July, will be extended until the end of August, and the measure may be extended further. In addition, Russian Deputy Prime Minister Novak said that he will reduce oil exports by 500,000 barrels per day in August. The Algerian Ministry of Energy also stated that it will cut an additional 20,000 barrels per day of oil production from August 1st to August 31st. The voluntary production cuts by OPEC and its production reduction allies have brought strong support to the international crude oil market.
On the other hand, the U.S. Institute for Supply Management (ISM) Manufacturing Purchasing Managers Index in June was lower than expected, falling 0.9 percentage points, shrinking for the eighth consecutive month. The market is worried about the US economic recession, which to a certain extent suppressed the upward space of international crude oil prices.
As of July 7, the settlement price of the main contract of West Texas Intermediate crude oil futures on the New York Mercantile Exchange was US$71.80/barrel, a month-on-month increase of 2.78%; the settlement price of the main contract of Brent crude oil futures on Intercontinental Exchange was US$76.52/barrel barrels, up 2.93% month-on-month.
Looking at the spot market, the petrochemical products with the top five increases were liquid chlorine up 91.43%, alkylated oil up 21.89%, mixed aromatics up 14.91%, paraquat 42% mother liquor up 13.27%, paraquat up 12.83% %; the petrochemical products with the top five declines were aniline down 6.54%, 2,4-dichlorophenoxyacetic acid down 8%, dimethyl carbonate down 7.43%, trichloroethylene down 6.77%, and carbon black oil down 6.74% .
Looking at the capital market, the top five listed chemical companies in the Shanghai and Shenzhen stock markets last week were Kangpu Chemical up 21.87%, Hengguang Co., Ltd. up 17.92%, Zhengguang Co., Ltd. up 15.74%, and Ruifeng Gaocai Co., Ltd. , Xinri Hengli rose 11.38%; the top five listed chemical companies that fell were CSSC Hanguang fell 11.50%, Xinhua fell 10.30%, Marubi fell 10.17%, Bohui fell 10.08%, and Sanyuan Bio down 9.15%. (Luo Iowa)
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