In November, the bulk chemical market rose briefly and then fell. In the first half of the month, the market showed signs of inflection points: the “new 20″ domestic epidemic prevention policies were implemented; Internationally, the US expects the pace of interest rate increase to slow down; The conflict between Russia and Ukraine has also shown signs of easing, and the US dollar leaders’ meeting at the G20 summit has yielded fruitful results. The domestic chemical industry has shown signs of rising due to this trend.
In the second half of the month, the spread of the epidemic in some parts of China accelerated, and weak demand resurfaced; Internationally, although the minutes of the Federal Reserve’s monetary policy meeting in November suggested slowing interest rate hikes, there is no trend to guide the wide fluctuations of international crude oil; It is expected that the chemical market will end in December with weak demand.

Good news frequently appears in the chemical industry market, and the theory of inflection point is spreading wildly
In the first ten days of November, with all kinds of good news at home and abroad, the market seemed to be ushering in a turnaround, and various theories of inflection points were rampant.
Domestically, the “new 20″ epidemic prevention policies were implemented on the Double 11, with two reductions for the full seven secret connections and exemption for the second secret connection, so as to prevent and control accurately or predict the possibility of gradual relaxation in the future.
Internationally: after the US raised interest rates by 75 basis points in a row in early November, the dove signal was released later, which may slow down the pace of interest rate increase. The conflict between Russia and Ukraine has shown signs of easing. The G20 Summit has yielded fruitful results.
For a while, the chemical market showed signs of rising: on November 10 (Thursday), although the trend of domestic chemical spot continued to be weak, the opening of domestic chemical futures on November 11 (Friday) was mainly up. On November 14 (Monday), chemical spot performance was relatively strong. Although the trend on November 15 was relatively mild compared with that on November 14, chemical futures on November 14 and 15 were mainly up. in the middle of November, the chemical index showed signs of rising under the downward trend of wide fluctuations in the international crude oil WTI.
The epidemic rebounded, the Federal Reserve raised interest rates, and the chemical market weakened
Domestic: The epidemic situation has rebounded seriously, and the international “Zhuang” epidemic prevention policy that launched the first shot was “reversed” seven days after it was implemented. The spread of the epidemic has accelerated in some parts of the country, making prevention and control more difficult. Affected by the epidemic, weak demand resurfaced in some areas.
International aspect: The minutes of the Federal Reserve’s monetary policy meeting in November showed that it was almost certain that the pace of interest rate increase would slow down in December, but the expectation of an interest rate increase of 50 basis points remained. As for the international crude oil, which is the base of chemical bulk, after the trend of “deep V” on Monday, both the internal and external oil prices showed a trend of overshoot rebound. The industry believes that the oil price is still in a wide range of fluctuations, and large fluctuations will still be normal. At present, the chemical sector is weak due to the drag of demand, so the impact of crude oil fluctuations on the chemical sector is limited.
In the fourth week of November, the chemical spot market continued to weaken.
On November 21, the domestic spot market closed. According to the 129 chemicals monitored by Jinlianchuang, 12 varieties rose, 76 varieties remained stable, and 41 varieties fell, with an increase rate of 9.30% and a decrease rate of 31.78%.
On November 22, the domestic spot market closed. According to the 129 chemicals monitored by Jinlianchuang, 11 varieties rose, 76 varieties remained stable, and 42 varieties fell, with an increase rate of 8.53% and a decrease rate of 32.56%.
On November 23, the domestic spot market closed. According to the 129 chemicals monitored by Jinlianchuang, 17 varieties rose, 75 varieties remained stable, and 37 varieties fell, with an increase rate of 13.18% and a decrease rate of 28.68%.
The domestic chemical futures market maintained a mixed performance. Weak demand may dominate the follow-up market. Under this influence, the chemical market may end weak in December. However, the early valuation of some chemicals is relatively low, with strong resilience.