In March, bulk commodities suffered from "late spring cold"
in March, bulk commodities suffered from "late spring cold"
April 10, 2017
[China paint information]
in March, the domestic bulk commodity market suddenly cooled down, and the market situation directly evolved into "frost" from the "little spring" in February. According to the 58 list of commodities, as of March 28, 29.31% of commodities rose, 68.97% of commodities fell, and another 1.72% of commodities were flat. The number of commodity indexes fell month on month in February increased to nearly 70%, while the number of rising commodities was less than 30%; Compared with March 2016 (in the same month, the commodities with 75.86 round experimental machine jaws avoiding clamping block deviation increased by% and only 24.14% of commodities fell), the market has undergone earth shaking changes
data show that the average market decline in March was 4.07%, which is in great contrast to the average increase of 1.19% last month. It is worth mentioning that the average decline of 4.07% is also the largest monthly average decline in the market since February 2015. The bull market started in the second half of 2016. 3. The journey of different hardware configurations seems to "end abruptly" here
as of March 28, there were 40 commodities with month on month decline in the 58 bulk commodity price list, mainly focusing on steel (7 in total), nonferrous metals (7 in total) and rubber and plastic (7 in total). In March, steel and rubber and plastic commodities fell across the board, and the commodities with a decline of more than 5% were mainly concentrated in the rubber and plastic sector. Styrene butadiene rubber fell as much as 42% in two months, and pa63 also suffered a sharp decline, second only to styrene butadiene rubber. It is worth mentioning that in March, the market almost ended the previous differentiation situation. In addition to the strong coal and weak oil differentiation in the energy sector, there was a "one-sided" phenomenon in the sectors and industries with crude oil as the wind vane. Ethylene glycol, acetic acid, methanol, PTA, polymerized MDI, lint and so on all fell. As the leader of the whole bulk commodity, crude oil also fell sharply in March, down 11.63%, WTI crude oil once hit a new low of $47/barrel in the year
as for the reason why the market turned into a "bear market" rapidly in March, the industry generally believes that this is due to the double impact of the collapse of crude oil in the international market and the domestic economic environment
analyst fanyanxia believes that: first, crude oil, the leading commodity in the market, showed a continuous sharp decline in March, completely out of the $50 line; Second, the inventory of some commodities has increased significantly, the supply pressure has increased, and the enthusiasm of downstream procurement has decreased, resulting in the breeding of market pessimism, and it is reasonable for the market to reduce prices under high pressure; 3. The third experimental method of surface bonding strength is "high-rise effect". After the longest continuous rise in the market in five years since the second half of 2016, many commodity foam are accumulating and will fall more and more fiercely
liuxintian, a core expert of China bulk commodity development research center, pointed out that such a big contrast in the market in March was mainly due to the release of economic data in February in the first ten days of March, and the year-on-year increase of PPI in February reached 7.8%, which caused the market to worry about the tightening of macro policies and liquidity, and the bulk commodity market fell in response
looking forward to the future, on the whole, the market decline in April is expected to narrow or even stabilize, and the rise and fall ratio may remain at 50-50. In the long run, the second quarter will be the process of destocking the whole bulk commodity market, and the market performance may be differentiated. Rubber and plastic, steel and nonferrous metals are still facing callback pressure