derbycrash3| Soda ash futures rose more than 5% and most chemical sectors were red

News summary

May 20derbycrash3, the domestic chemical futures market was active, with the main contract price of soda ash rising by 5%derbycrash3.64% to 2362 yuan/ton, leading the rise in the chemical sector; the main contracts of PVC, ethylene glycol and styrene also rose by 2.35%, 1.74%, and 3.09% respectively. In addition, many varieties of contracts are now "upside down", and spot prices are higher than futures prices, which deserves investors 'attention.

Newsletter text

[The chemical futures market has seen significant gains, with the soda ash sector leading the gains by more than 5%] The main contract price of soda ash soared 5.64% to 2362 yuan/ton; the main contract price of PVC followed closely, with an increase of 2.35%, and the quoted price was 6365 yuan/ton. The main contract prices of ethylene glycol and styrene rose by 1.74% and 3.09% respectively to 4572 yuan/ton and 9549 yuan/ton respectively. [List of Chemical Futures Prices] Data on the opening price, yesterday's closing price and yesterday's closing price of the contract name show that rubber, No. 20 rubber, synthetic rubber, PTA, staple fiber, PVC and other varieties all showed varying degrees of ups and downs. [Analysis of Changes in Warehouse Receipt Data in Commodity Market] Data shows that the number of warehouse receipts for multiple chemical varieties has increased or decreased. For example, rubber warehouse receipts decreased by 10, No. 20 rubber warehouse receipts increased by 605, while styrene warehouse receipts decreased by 100, and pulp increased by 2229. [Inventory of current upside down phenomenon] According to basis data, the spot price of contracts for several varieties such as pulp, PTA, methanol, and urea has a situation where the spot price is higher than the futures price, which is the phenomenon of "current upside down". [Detailed analysis of basis data] The basis data shows that natural rubber, pulp, butadiene rubber, PTA, glass, methanol, urea, soda ash, polyester staple fiber, PX, caustic soda, polyvinyl chloride, polyethylene, polypropylene, ethylene glycol, styrene and No. 20 rubber, the gap between spot prices and futures prices of various commodities and the basis ratios are different, reflecting the different expectations of market participants for future price trends.

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