Chemicals lead the decline

The central bank reduced its profit and made more profits than expected. On the 5th, the domestic market fell in a large area, among which chemical products fell under the weight of overnight international oil prices, and the decline was among the highest among all varieties. By the close, plastics and rubbers have fallen by around 2%, and PPs and PTAs have fallen by more than 1%.

First of all, the collapse of oil prices has made chemical products the main target for shorting. Plastic ** main 1505 contract opened sharply lower at 8485 yuan, thereafter maintaining a weak shock, closing at 8455 yuan, down 2.06%. The PP**1505 contract also jumped wide open, and the long and short sides competed for 7,600 yuan around the clock and closed down 1.59% at 7,620 yuan. PTA opened sharply lower in the morning and has since fluctuated above the weaker level of 4,700 yuan and closed at 4,716 yuan, a decrease of 1.30%. Rubber and methanol also recorded a decrease of 1.91% and 0.65% respectively.

In the overnight international market, the price of oil fell sharply after rising for four consecutive days. U.S. crude oil stocks plunged 9% due to a record oversupply of U.S. crude oil inventories, causing one of the biggest single-day declines in history. , Brent crude once fell below 48 US dollars.

However, in a panic, precious metals once again became a haven. Shanghai Silver ** main contract opened higher and higher on Wednesday night, as of closing, reported 3675 yuan, an increase of 0.82%. The Shanghai Gold 1506 contract opened sharply higher in the morning and has oscillated around 258 yuan since then. It eventually closed up 0.45% to 257.50 yuan.

Internationally, due to Greece's persistent debt negotiations to raise demand for gold as a safe-haven asset, the New York Mercantile Exchange (COMEX) gold ** closed higher on Wednesday, the main April contract closed up 4.20 US dollars or 0.3%, settled at 1264.50 per ounce Dollars.