Crude oil: On the previous trading day, WTI closed at US$62.90/barrel, up US$8.05/barrel from the previous trading day; BRENT closed at US$69.02/barrel, up US$8.80/barrel from the previous trading day.
Periphery
Macro news
1. The country’s top leader visited and investigated in Henan Province. He came to Dapu, Tianpu Township, Xinxian County, Henan Province to learn about the local red tourism resources, create a maker town, develop rural tourism, and promote rural revitalization. .
2. The central bank held an office work symposium, pointing out that it is necessary to increase the interpretation of policy release and anticipation of guidance, strengthen communication with the market, and respond to concerns and stabilize expectations in a timely manner.
3. China’s industrial added value above designated size increased by 4.4% year-on-year in August, with an expected 5.4% and a previous value of 4.8%. China’s total retail sales of consumer goods in August increased by 7.5% year-on-year, with an expected 7.9% and a previous value of 7.6%. China’s real estate development investment in January-August increased by 10.5% year-on-year, and the growth rate dropped by 0.1 percentage points from January to July; the sales area of commercial housing fell by 0.6% year-on-year, and the decline was 0.7 percentage points lower than that in January-July.
4. China’s fixed asset investment (excluding farmers) from January to August increased by 5.5% year-on-year, with a previous value of 5.7%. Among them, industrial investment increased by 3.3% year-on-year, with a growth rate of 0.5 percentage points lower than that of January-July; manufacturing investment increased by 2.6%, growth rate dropped by 0.7%; investment in power, heat, gas and water production and supply increased by 0.4%. The growth rate accelerated by 0.4 percentage points.
5. China’s employment situation in August was generally stable. The national urban survey unemployment rate was 5.2%, a decrease of 0.1 percentage points from the previous month. From January to August, 9.84 million new jobs were created in cities and towns nationwide, completing 89.5% of the annual plan.
Industry dynamics
Titanium Dioxide: It is expected that the price of the titanium dioxide market will be temporarily stagnant this week and stabilized. On the one hand, near the National Day, the downstream market’s operating load has declined overall. On the other hand, titanium dioxide manufacturers have just negotiated offers, and the market needs to gradually digest. It is expected that the short-term negotiations will be temporarily stabilized.
Alcohol ether: The domestic ethylene glycol butyl ether market has risen sharply yesterday, and the actual order has yet to be followed up. At present, the oil price of the Saudi oil plant has caused the oil price to rise, which greatly boosted the chemical market atmosphere. In addition, the overall supply of ethylene glycol butyl ether was limited. The seller’s offer rose sharply yesterday, and the downstream inquiry atmosphere was good. The actual order has not been followed up. Yesterday’s gains were large, and if there were no other good afterwards, it is expected that the gains will be dominated this week.
Acrylic emulsion: The domestic acrylic resin raw materials fluctuated slightly, and the styrene market price fluctuated frequently. The price fluctuations were adjusted this week, down 0.23% from last week; the butyl acrylate market price fluctuated slightly down 1.83%; the MMA market price stabilized after rising 1.28 %; the market price of butyl acetate was stable at 1.33%. The supply side is based on single production, factory load production, and firm trading, and downstream coatings manufacturers have normal demand. It is expected that the market outlook will be stable.