Newsletter summary
The price of urea futures fluctuates strongly.Crashbandicoot2017The spot market strengthened slightly. Enterprises have launched price stabilization initiatives, but there are adjustment expectations in the market. Soda ash futures fluctuate widely, supply-side disturbance, and are driven by upward movement in the medium term. Glass futures are strong, spot prices fall, and focus on the recovery of terminal demand.
Text of news flash
[urea futures prices maintain a strong volatility pattern]
The urea futures market continued the strong and volatile trend of the previous trading day on Tuesday, but its performance weakened somewhat. The 09 contract, the main force of the market closing price, showed 2186 yuan / ton, up 1% from the previous trading day.Crashbandicoot2017.11%. At the same time, the spot market is also slightly stronger, the mainstream market prices rose 100.40 yuan / ton, Shandong Linyi market prices rose to 2380 yuan / ton. In addition, a number of urea production enterprises have put forward initiatives to ensure domestic nitrogen fertilizer supply and price stability, temporarily withholding export orders, and ensuring that factory prices do not exceed the level of May 21, affecting market sentiment. Although urea supply is about to increase, agricultural demand has entered a gap period, and market prices are facing adjustment expectations, the spot market is still supported by pending orders and remains strong. Investors can consider the strategy of selling short on high, and pay attention to the impact of improved macro sentiment and changes in the international market.
[soda ash futures prices rose slightly]
Soda ash futures market showed a wide volatility on Tuesday, the rise slowed. At the close, the closing price of the main 09 contract was 2363 yuan / ton, a slight increase of 0. 0Crashbandicoot2017.9%. Soda ash futures prices remained strong during the night trading, with the main contract rising more than 3% at one point. The spot market is generally stable, with quotations slightly raised in a few areas. From a fundamental point of view, due to the maintenance of new lines and the unstable equipment of some manufacturers, a large alkali plant in Shandong Province significantly reduced the industry operating rate and output, and the daily operating rate of the industry dropped to 81.38% the day before. Demand-side growth is general, after the continuous increase in soda ash prices, the speculative atmosphere in the middle and lower reaches weakens, and the market is dominated by rigid demand. Looking to the future, the short-term interference of soda ash supply is expected to increase, high temperature in summer may lead to seasonal maintenance of alkali plants, supply may be reduced. In the medium term, the price of soda ash is likely to increase, but we should pay attention to the resistance in the middle and lower reaches, the competition of imported soda ash and the overall trend of the domestic market.
[glass futures prices rose slightly]
Glass futures prices fluctuated widely on Wednesday, with the main contract closing at 1657 yuan per tonne, up 1.1 per cent. The spot price of domestic float glass fell slightly to 1679 yuan / ton, and the performance of each region was divided. Sales in Shahe area increased to 160%, while itsCrashbandicoot2017Sales in other areas remain around 90%. Recently, there are differences between the glass futures and the spot market, and the spot price remains cautious, while the futures price remains strong due to the frequent policy and the soda ash price. Taking into account the growth in terminal demand, glass futures are expected to continue this trend in the short term. However, before there is a significant improvement in terminal demand, the room for glass futures to rise may be limited, and investors should continue to pay attention to spot transactions and the recovery of terminal real estate demand.
