Generally speaking, futures refers to futures contracts, which are completely different from spot. Spot is a real commodity that can be traded, and futures are mainly not commodities. Refers to the standardized contract made by the futures exchange, which stipulates to deliver a certain number of subject matter at a certain time and place. This subject matter, also called the underlying asset, is the spot corresponding to the futures contract.
Plastic futures are futures products introduced by Dalian Commodity Exchange, mainly including polyvinyl chloride (PVC), polyethylene (PE) and polypropylene (PP), all of which belong to five general plastics, and their raw material sources and downstream uses have deep roots. Moreover, all three are listed on large commercial exchanges, and they are all commodities, and their trends are highly correlated. Combined with the above situation, plastic futures are futures contracts based on plastics.
There are several factors that affect the plastic futures price: from a fundamental point of view, it is the relationship between supply and demand. If the market exceeds supply, the plastic futures price will fall, and vice versa. Macro-economy and favorable economy will drive futures prices up, on the contrary, the market will go down because of the withdrawal of funds. Government policies also have a significant impact on the price of plastic futures market. This year, the two sessions will increase tax reduction and work reduction, which will greatly benefit the plastic industry and the plastic futures market will rise accordingly. The demand of plastics industry is seasonal. Generally, 9- 10 is the peak demand season, so the futures price at this time of the year will be slightly higher than that in other quarters. The price of naphtha will also affect the price of plastic futures. The higher the naphtha price, the higher the plastic futures price. On the contrary, the price is low and consolidation. The futures market will also be manipulated by large investors with abundant funds, resulting in speculative price fluctuations, but these fluctuations will not last long and will eventually return to fundamentals.
To sum up, plastic futures must consider a variety of factors in order to assess the situation and win profits. How is the plastic futures market in recent years? We can know from Aauto Quicker chain official website that the development of polyethylene is very good in recent years, and the demand is also increasing. The emergence of coal-to-olefin technology makes the future development of polyethylene broader.
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Compared with polyethylene, polypropylene started late, but it is not backward. The huge demand and the emergence of propylene from coal make the polypropylene futures listed on 20 14 also perform well. However, the performance of PVC, which ranks first in production capacity, output and consumption, is surprising, and it continues to bear the burden of high energy consumption, high pollution and overcapacity. Prices have been hovering at a low level for many years, so that the industry can only choose to wait and see. Judging from the recent plastic futures price, the forward spot market is not optimistic, mainly affected by supply and demand. At present, the petrochemical inventory is at a high level, and the downstream market procurement is not active, resulting in a weak spot market. In the later period, the equipment maintenance was not strong, the production capacity was expanded, and the pressure of supply and demand still existed. However, the uncertainty of 20 19 macro-economy restrained the upward trend of plastic futures prices. However, based on the gradual recovery of demand, the market still has upward expectations.