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The fall in crude oil is hard to stop the pace of plastics rising

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The fall in crude oil is hard to stop the pace of plastics rising

January 31, 2024
Latest company case about The fall in crude oil is hard to stop the pace of plastics rising

The world's largest single-line capacity producer of recycled bottle grade polyester chips. A few days ago, German environmental experts observed plastic slicing made from used plastic bottles. / Xinhua News Agency reporter Chen Chenxu reported: despite the sharp drop in international oil prices, yesterday's domestic commodity performance fell, the day to rebound to the bottom, the plastics that have been rising in the previous period continue to hit new highs, analysts believe that it is expected to rise to 11,000 mark nearby. The sharp drop in crude oil may not be as big as investors worried that the slow economic recovery rate could not support the expected rebound in oil demand.

The overnight crude oil futures price fell for the fourth consecutive trading day, falling to a five-week low, and August crude oil closed at 64.05. The US dollar, which is the lowest level since May 27, also hit the biggest one-day price decline and percentage decline since April 20. At the same time, from a technical point of view, crude oil now has the potential to form a double-headed, technical trend is bearish. This has caused investors to worry about a sharp drop in crude oil and continue to put pressure on commodities. However, integrated futures analyst Huang Weichang believes that investors do not have to worry about crude oil falling sharply. Because crude oil is the last and most powerful trump card of international investment funds, the bear market of global commodities in the economic crisis has bottomed out at the end of last year, and the value preservation function of crude oil is even worse than gold, even though the current US dollar has stabilized.

The trend of rebound, but he believes that the fluctuation of the dollar is expected to maintain, and due to the resource characteristics of crude oil, it is still possible to separate from the US dollar in the later stage. He believes that the current market comment seems to pay too much attention to the macro economy and ignore the operational characteristics of the co

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