Futures generally refer 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 launched by Dalian Commodity Exchange. There are mainly three kinds of plastics: polyvinyl chloride (PVC), polyethylene (PE) and polypropylene (PP), all of which belong to the five general plastics. Their raw material sources and downstream uses are deeply rooted. Moreover, all three are listed in 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.
The factors that affect the plastic futures price are: from a fundamental point of view, that is, the relationship between supply and demand, if the market supply exceeds demand, the plastic futures price will fall, and vice versa. Macroeconomic and economic benefits will drive futures prices up, on the contrary, the market will be pulled away by funds and go down. The influence of government policies on the plastic futures market price is also more significant. This year, the two sessions will increase tax reduction and fee reduction, which will be of great benefit to the plastic industry, and the plastic futures market will also rise accordingly. The demand of plastics industry is seasonal, and 9- 10 is the peak season, so the futures price at this time of the year will be slightly higher than other quarters. The price of upstream naphtha will also affect the plastic futures price. If the naphtha price is high, the plastic futures price will be boosted. On the contrary, the price will consolidate at a low level. The futures market will also be manipulated by well-funded large households, causing speculative price fluctuations, but this fluctuation will not last long and will eventually return to the 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? According to official website, a fast-moving material chain, the development of polyethylene has kept good in recent years, and the demand is increasing. The emergence of coal-to-olefin technology has made the future development of polyethylene broader.
Compared with polyethylene, polypropylene started late, but it is not backward. With the huge demand and the emergence of propylene from coal, polypropylene futures listed on 20 14 also performed 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, and the industry can only choose to stop and 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, which leads to the weakness of the spot market, the lack of equipment maintenance and capacity expansion in the later period, and the pressure of supply and demand still exists. However, the uncertainty of 20 19 macro-economy suppressed the upward trend of plastic futures prices. However, based on the gradual recovery of demand, the market still has upward expectations.