Crude Oil Gains Boost Chemical Industry

- Feb 06, 2019-

  The Wenhua Commodity Index drastically reduced the position of 917,000 hands. After the night market opened higher, the warehouse was reduced and the operation was mainly shocked. After the market was lightened, the market continued to rise. The short position in the day was more active. Although the fluctuations intensified in the afternoon, the market was still slowing down. At the close of the highest price, it recorded a gain of 0.87%, and stabilized the 60-day moving average to hit the high-point area on the recent shock platform. Among them, industrial products reduced their positions by 1.2%, while agricultural products reduced their positions by 0.15%. The trend of non-ferrous metals rose by 0.53%, coal rose by 3.14% for several days, and building materials rose by 0.6% to record two consecutive yangs. Chemicals rose by 0.92% to hit the platform high, and oil fell by 0.52%. The soft commodity volatility rose by 0.15%, the stalemate did not open, the feed rose by 0.71%, and the moving averages competed for re-ignition. The precious metal oscillated slightly, and the market was more than before the festival.

Commodity index funds outflowed 2.557 billion to 94.219 billion yuan, black outflowed 1.11 billion yuan, chemical outflows 569 million, and nonferrous metals outflowed 109 million yuan. Today led the rise in coking coal, fuel and PTA, leading the decline in rubber, eggs and Shanghai lead.

China's official manufacturing PMI of 49.5 in January was lower than the glory line for the second consecutive month, with an expected 49.3 and a previous value of 49.4. Among the sub-indices, the new order index was 49.6, down 0.1 from last month. Among them, the new export order index reflecting external demand was 46.9, up 0.3 from last month. The employee index was 47.8, down 0.2 from last month.