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1.09292
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Gold
2659.02
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73.923
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Real-time News
European Commission Vice President and Foreign Minister Borrell: British Foreign Secretary Lamy and I reiterate our call for a ceasefire in the Middle East.Futures News on October 14: The domestic urea market has been under pressure recently. On October 12, the average price of the domestic urea market was 1,915.05 yuan/ton, down 0.71% from the previous working day. From the supply perspective, most companies equipment is operating well, the expectation of loose supply still exists, and the downstream wait-and-see sentiment is very strong. From the demand perspective, agricultural demand support is limited, industrial demand flow is poor, and overall industrial and agricultural procurement is mainly based on rigid demand. Merchants are not motivated to replenish stocks and have a strong sense of risk. In the short term, the domestic urea market is mainly weak and volatile, and rigid demand transactions are made at low prices, with certain differences in various regions.Futures news on October 14, PP futures opened lower at the beginning of the week, and the market sentiment cooled down. On October 14, the price of wire drawing in East China was 7675 yuan/ton, down 25 yuan/ton from the previous working day. The fiscal meeting on Saturday was not as expected by the market, which had limited boost to the mentality of the industry. In addition, the inventory of upstream production enterprises was high after the holiday, and the sales strategy was relatively active. The downstream factories are currently consuming the inventory of the previous point price, and are in a wait-and-see mood for the current high-priced raw materials. It is difficult for the demand to be concentrated and the market is insufficient to support. Based on this, it is expected that PP will adjust weakly in the short term.Futures News on October 14, the recent nitrile market has fluctuated after rising. As of midday on the 14th, the reference self-pickup price of Huadong Lanhua 3305E was 17,000-17,200 yuan/ton, up 3.64% from the end of September. After the holiday, supported by the positive macro sentiment, high prices of related products and tight supply of some brands, the nitrile market prices generally rose. However, downstream replenishment tends to be cautious, and the market is under pressure to increase prices. As macro sentiment gradually cools down, the nitrile market also tends to adjust. In the short term, the tight spot supply of some brands will continue to support the rubber price, but demand is unlikely to increase. It is expected that nitrile will fluctuate in the short term.Futures News on October 14, after the holiday, factories have started selling basis contracts for June to September next year, with mainstream prices ranging from -50 to -90 yuan/ton. The market is enthusiastic about buying, and considering the low absolute price, the market sentiment for price quotation is also high. The supply of the domestic spot market has gradually turned to neutral, and the performance of picking up goods after the holiday is good. Upstream inventories are expected to continue to decline, which will support a slight increase in spot basis prices.
