yesterday continuation of most varieties of domestic futures market oversold market correction, wherein the plastic in the previous trading day bullish breakout 10,300 shopping basket yuan / ton, after a bit of pressure continued strong lead in the market. But compared to the previous trading day is shrinkage lighten up, investors chase high enthusiasm remains inadequate.
Plastic recent rebound mainly the following three points: First, the new round of global interest rate cuts plastic expansion boom is a major cause of oversold bounce; Second, the U.S. oil consumption peak season, the recent trend of crude oil continued to rebound strongly plastic power; first Third, the market spot prices remain high and larger futures premium provide space for the rise in prices. However, the macro level, China, the U.S. economy continues to improve, but slowed down; eurozone economy continues to shrink. Crude oil market, the three institutions have flip scans cut crude oil demand is expected this year, demand for crude oil market outlook is not optimistic. The spot market, the second quarter is traditionally the low season demand, downstream manufacturers demand procurement.
Therefore, the short term, plastic rebound is still not over, but the medium pattern needs to be improved.