On January 19th, the market situation of BR in East China was weakly consolidated. The futures market fluctuated and fell, and the supply price of Sinopec BR was lowered by 200 RMB/ton to 11,900 RMB/ton. The market atmosphere was weak and wait-and-see, and some merchants offered a slight decrease of 100-200 RMB/ton. At present, the mainstream prices in Daqing, Yangtze, and Qilu BR are 11,900-12,150 RMB/ton; Some private brands are priced around 11,800-12,000 RMB/ton; Low price source transactions are the main focus.
This indicates weak demand and increased inventory pressure, which poses significant downward pressure on spot prices. Based on futures data, the recent contract price of BR has generally fallen (such as the settlement price of contract 2603 at 12,005 RMB/ton, down 245 yuan), and the position has decreased (such as the change in position of contract 2603 at -3,536 yuan), indicating a pessimistic market expectation. Futures prices have fluctuated downward, further strengthening the bearish trend of spot prices.
On January 19th, the market for BR in the northwest region experienced a slight decline. The BR futures market is consolidating weakly, with merchants slightly lowering their offers by around 100-200 RMB/ton. At present, the mainstream prices for BR in Sichuan, Dushanzi, and Lande are 11,900-12,300 RMB/ton.
This indicates that there is sufficient market supply or weak demand, which puts downward pressure on spot prices. The weak consolidation of the futures market, combined with the relevant futures data of BR (such as contract 2603 closing price of 11,815 RMB/ton, up and down -245), multiple contract prices have fallen and the change in holdings shows bearish sentiment, further strengthening the downward trend of futures prices.
On January 19th, the market for BR in the southwest region slightly declined. The futures market for BR is weak and declining, with mainly small orders in the market. Merchants have slightly lowered their offers by around 100 RMB/ton. At present, the mainstream price of Sichuan BR is 12,000 RMB/ton, and the mainstream price of Dushanzi BR is 12,500 RMB/ton.
This indicates that the spot market has sufficient supply or weak demand, leading to price pressure. At the same time, the BR futures market is weak and declining. Combined with recent futures data, related contracts such as BR 2603 have a settlement price of 12,005 RMB/ton, a decrease of 245 yuan from the previous day, and the position has decreased, reflecting pessimistic market expectations. Transactions are mainly small orders.
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