The latest statistics show that since November last year, after the once quiet securities trust products “again, funds to raise the scale of sustained growth.

Trust insiders said, as an important part of asset allocation, equity assets is favored funds, trust funds as relatively sensitive funds, the market behavior or have a certain benchmark significance.

Recently, said Morgan Stanley analyst ChetanAhya et al in the report, to the high value-added upgrade material industry to promote MSCI China index of the next 10 years to continue to outperform the MSCI emerging markets index, the Shanghai and Shenzhen A stock market will once again enter the bull market.

Founder Securities pointed out that with the credit than expected, exceed the expected demand, reform than expected, the performance than expected. The industry boom is conducted from the downstream to the middle, PPI rose to the middle reaches of the improvement in earnings, the next period of time is the golden period of the middle rise “. Investment clock “industry moving round the economy” for the future asset allocation categories will play a leading role, the return of the king. Investors are advised to actively grasp to do more than A shares of the time window, attacked the middle and two main reform.
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With the return of funds after regression factors, and reverse repurchase expires and the expansion of preganglionic TLF (temporary liquidity facilities) expires, the central bank or through reverse repurchase to hedge, but maintain funds face tight balance is not expected to change the attitude. The main purpose of the central bank in the open market operation is smoothing short-term fluctuations in liquidity, liquidity is generally stable, the central bank is expected to not excessive release of liquidity.

However, the stock market from the financial perspective, A quarter of the A-share market attractiveness is still large. Xing capital equity investment manager Li told reporters that the festival, although the market is expected to tighten monetary policy tends to be strong, but the categories of asset allocation from the point of view, the stock market relative to the bond market and the property market more attractive, expected short-term market funds face will remain stable. Before March, the market risk appetite is expected to rise, the activity will also be significantly better than before, for the first quarter of the performance of the market is relatively optimistic.

GF Fund believes that the short term, the latest data support the short-term economic stabilization and recovery of the market expectations, while a quarter of more policy events will help market sentiment further warming. More importantly, the current A shares relative to other categories of assets still more cost-effective. Therefore, A shares are still up space. Still optimistic underestimate the value of the value of stocks and cyclical stocks style, industry and the theme of value in consumption, industry, the reform of state-owned enterprises, “The Belt and Road” and other related concepts.

The price of natural rubber and synthetic rubber makes the domestic tire manufacturers together call up. Reporters learned in the interview process, the beginning of last November some tire companies issued a notice of price increases, to February, the tire prices are still up.

Wang Kaifu told reporters, from November 2016 to February this year tire prices increase month increase, total 10%~25%; the 11 at the end of last year the beginning of the December, the tire price increases about 2%~5%, increase in January 2%~8%, February raised about 5%~10%. He said that the reason of tire prices is mainly natural rubber, synthetic rubber, carbon black, steel cord and tire additives such as main raw material prices continued to rise sharply.

“Tire prices rose more due to the rising cost of raw materials, natural rubber, synthetic rubber tire costs accounted for nearly 50% of the cost.” A domestic tire listed company insider told the “daily economic news” interview.

Wang Kaifu told reporters that the domestic tire enterprises basically is full price, but mainly by the higher market share, sales channels and large comprehensive sales good leading tire companies.

The domestic tire company insiders said, “tire prices have nominal and actual. The nominal price may be $45%, but in order to keep the market share, vendors may have some promotion policy.”

At the same time, the insiders said, now obviously feel do not buy or buy up the market demand began to appear, but in the long term, demand or need to product sales promotion from the extensive growth pattern to enhance quality and leading mode to stimulate. “Tire market demand is relatively stable and even began to recover.”

Daqing oilfield is the important oil of two companies, has experienced 50 years of exploration and development, once the largest oil output in domestic China, and in recent years Daqing oilfield aura no longer.

At the beginning of 2016, when the Daqing oilfield management publicly issued a document that, at the same time, the problems of Daqing oilfield back-up resources development benefit has become worse and worse and social problems such as the heavy burden. The disclosure of the data show that in 2015, Daqing oil revenue 155 billion 300 million yuan, profit of 10 billion 200 million yuan, affected, compared to 2014 decreased by 100 billion 200 million yuan, 54 billion 200 million yuan. Two months of 2016 has been a loss of more than 5 billion yuan, increasing operating pressure.

In the background of the market downturn, to expand overseas business is more important. From the oil group news shows, 2016 Daqing oilfield has won the bid in Iraq, Turkmenistan and other countries related projects, overseas revenue 8 billion 75 million yuan. But in the market better in 2012, Daqing oilfield overseas business scale and efficiency was the highest level at the time, to achieve revenue exceeded 9 billion yuan.

In this regard, the dean of Xiamen University Institute of energy analysis China policy Lin Boqiang said the long-standing Daqing oilfield overseas business development strategy, the production target is half of the country made the first public “. He believes that the Daqing oilfield domestic output is already the natural decline stage, its development is imperative to go out.

Lin Boqiang believes that the next few years, Daqing oilfield overseas market revenue will have a greater breakthrough, expand overseas business opportunities more. He said that the rebound in oil prices under the environment of overseas mergers and acquisitions, overseas contract projects and overseas cooperation opportunities. At the same time, Daqing oilfield to overseas market negotiations long, political risks and fierce competition to prepare.

In February 14th, although the organization of Petroleum Exporting Countries (OPEC) cut the execution rate of record highs, but this has long been the market valuation, so investors focus more on last week released the latest U.S. oil drilling report number above, U.S. crude oil production rebounded worries increased oil prices rise again callback pressure.

In February 14th, Southern China styrene market to wait and see, the smell of Guangzhou market with the intention of selling 11900 yuan / ton, imports, domestic to single out, real talk. North China Styrene Market sluggish market wait-and-see, smell the intentions of selling 11850 yuan / ton or slightly lower to the downstream, is still recovering, buying mostly wait-and-see. East China styrene market opened flat spot smell selling intention in the 11850-11900 yuan / ton, the smell of a large single buying intention of 11700 yuan / ton, a talk. PetroChina northeast styrene offer temporary stability, under the flag of Jinzhou, Jinxi, Fushun, Daqing and other styrene reported 11700 yuan / ton, the device starts in about 8 as output, priority and internal mutual supply contracts, a small amount of export.

The United States led the United States styrene device maintenance rose to a 31 month high, with Asia and Europe were sharply arbitrage, arbitrage supply part of Asia to the United states. Domestic production enterprises at present prices temporarily stabilized, the downstream enterprises part of follow up, continue to actively resume production and shift cost pressure, but demand has been restored. But the low demand of styrene market continued, downstream started slow recovery, coupled with the mainstream inventory increased, pressing peripheral rose to bring the entire supply and demand rise, styrene market is more stalemate, is expected to Styrene Market in the short term or a slight decline.

after the Spring Festival, the domestic refined oil prices ushered in the first rise. According to the requirements of the national development and Reform Commission, the domestic refined oil price adjustment, the city’s gasoline and diesel maximum retail price since February 14, 2017 24, increase 50 yuan per ton. The price of the 92 highest retail gasoline 6.53 yuan / liter, the price of the 95 highest retail gasoline 6.95 yuan / liter, were up 4 cents.

From the cost of fuel, fuel tank capacity of about 50L in a small private car owners, to fill a box of oil only spend 2 yuan, very little effect. But on the other hand, the relative level of the same period in 2016, an increase in the cost of oil owners 19.3%.

Lung Chung Petrochemical Network Analyst Li Yan said that the price adjustment after the Spring Festival is the first increase in 50 yuan / ton, the price adjustment stranded line, the small rise somewhat beyond all expectations. The price is 2017 third times, two times the price adjustment before the one up one down.

After the price adjustment, the 2017 oil price will show two up one down zero stranded “pattern. In the current international crude oil prices, the next round of oil price adjustment will start showing a slight rising trend, but this rally is extremely unstable. The next time the price adjustment window will open in February 28, 2017 24.

The reaction type polyurethane adhesive is a composite containing more than two chemical active components in use after the composite polyurethane adhesive curing, in addition to a wide range of applications, the adhesive have the following advantages:

High bonding strength;

High and low temperature, wide range of design;

Health and good biological performance;

High adaptability;

Medium – strong.

Three, application of composite polyurethane adhesive

Composite polyurethane adhesive is mainly used in packaging, printing, leather, textile and footwear, transportation, electronic appliances, furniture and building materials, safety protection, new energy, tobacco etc..

In four, the composite polyurethane adhesive industry

1. Since the reform and opening up, China’s composite polyurethane adhesive industry has been sustained, rapid and stable development, and has formed a certain scale of production, but from the industry point of view, medium and small scale composite polyurethane adhesive manufacturers in the industry is still the main body. According to incomplete statistics, the composite polyurethane adhesive production enterprises in our country as many as hundreds, most are for small and medium enterprises, distributed in 28 provinces and autonomous regions nationwide, with annual sales income of 50 million yuan or more and with independent technology based enterprises less than 10; and the majority of small and medium-sized enterprises production technology and management level is low, output is little and the product grade is low, difficult to deal with the modernization of production and the challenges of market competition.

The composite polyurethane adhesive as the high-end products in the industry, though started late, R & D investment is relatively small and historical reasons, domestic production enterprises in a few products on the technical level is unable to compete with international companies, but benefit from the application of new materials in the field of domestic development and the domestic economy 10 years of rapid development, still to maintain a strong momentum of development, production and sales of nearly 10 years of rapid growth, the average growth rate reached 20%.

In 2009 the domestic industrial added value growth of 11% in 2008 under the environment of China’s application in the field of plastic flexible packaging composite polyurethane adhesive production reached 215 thousand tons, still achieved a high growth rate of 26.5%, while at the same time, its sales accounted for only 5.5% of all kinds of adhesive products of total sales, but sales are the total adhesive total sales of more than 8%, has played an important role in the adhesive industry.

Five, the main industry development trend

At present, the composite polyurethane adhesive industry development presents the following trends

The expansion of application fields

As a high-end composite polyurethane adhesive adhesive, besides getting widely used in food, medicine, daily chemicals, precision instruments, instrument and electronic device and other traditional packaging field, in oil printing, household appliances, building materials, transportation, energy, security and other fields have begun to have a broad application.

The increase of industrial concentration

Business agency 08 month 14 days

According to the Reuters newsletter, a survey report released in August 12th showed that the influence of Midwest drought and oil supply disruptions, the past two weeks, U.S. gasoline prices continued to rise. It is understood that in August 10th this year, the United States self-service gasoline prices from $3.51 in July 27th rose to $3.69. In April 6th this year, the price of gasoline was higher to $3.967 a gallon, a record high. The earlier record for July 11, 2008 of $4.112 a gallon.

The oil industry analyst Lundberg (Trilby Lundberg) in the United States nationwide survey of more than 2 thousand and 500 gas station, the survey results show that the oil refinery gasoline supply disruptions, and lead to the Midwest drought ethanol In short supply (ethanol with corn as raw materials), caused by the current U.S. gasoline prices continue to rise.

Lindberg also said that U.S. law requires quantitative ethanol sale, and sale of alcohol, is used for the synthesis of gasoline. On Friday, West Texas crude oil futures prices closed at $92.87 a barrel in March 1st this year, West Texas crude oil price was $110.55 a barrel.

In August this year, West Texas crude oil rose by 5.5%, while the July rate is 3.6%. The latest data show that the Chicago Grain Exchange, since mid June this year, for the delivery of corn futures prices in December rose 60%, the amplitude is obvious.

In January 31st China coincided with the Spring Festival lunar new year, Thailand Hatyai raw materials market rose for 5 consecutive days to hit a new high, glue up to 88 baht / kg, while in the previous week for 83 baht / kg, affected by glue output scarce, smoke film prices rose to a new high of 97.89 baht / kg. But then follow on gum market began to fall sharply, basically taking three days or.

Comprehensive market news, analysis of the fluctuation of raw materials in Thailand Zhuo think, show the transformation of the market trading mentality of both sides. Previously affected by the floods, the production of raw materials have received great difficulties, but also make the market price step by step up speculation hoarding and profiteering. However, with the southern weather, who stockpile and demand side trading loose, and Thailand in February 14th will continue to throw storage 100 thousand tons, affected by the market supply to outflow, so that prices fell loose.

The central bank raised the open market repurchase rate, monetary easing or reverse

In February 3rd, after the first day of the Spring Festival, the central bank will increase the open market operation of reverse repurchase rate by 10 basis points, and today’s net return of funds 70 billion yuan, net return for five consecutive days. This is interpreted as a signal of monetary policy reversal, to tighten monetary easing, the interest rates have been interpreted as a disguised interest rate hike, which is in the stabilization of the economy in the short term inflation picked up in the background, the central bank introduced the prevention of financial risks and credit to leverage initiatives.

This tightening of funds and to signal leverage is expected to overweight, the bond market and the stock market, futures market funds have to lighten up to leave, black, rubber and so on was a sharp sell-off, a substantial outflow of funds, taking three days or before the holiday. HuJiao main 1705 fell more than 4%, as of midday the main outflow of funds 590 million yuan.

Rubber supply and demand rebalancing, chicken market cautious optimism

Although the price of natural rubber in the end of 2016 years to rebound, but the structure of the industry chain is still in the stage of adjustment, also need to balance the supply and demand structure. The upstream supply by factors of production can not be anti after the climate change for the better and existing low inventory, high price conditions, idle capacity may effectively release next February and a quarter is still in the periodic inventory replenishment process, and is in a stop cutting stage, supply increment in the first quarter probably slowed.

Downstream demand side should be viewed dialectically, positive contradiction is a quarter of the overall downstream demand is expected to continue high growth at the end of last year, with the corresponding U.S. tire dual settled final and domestic passenger car purchase tax preferential policies halved, exports to the United States and the situation of small passenger cars falling demand; the opposite contradiction is the heavy truck replacement cycles the marginal effect, capacity to influence policy in real estate regulation and economic, and economic growth continued to decline, the policy of heavy truck demand or reached a critical point in the year, the lower new tire demand inflection point will appear.

In addition, the prices of raw materials prices to promote the industry under the background of enterprise financial pressure will not be reduced, only to end up to conduction, weak contradictions make industry liquidity tight, business conditions may face cash flow problem.

At present a comprehensive environment, the industry believes that the fundamentals of supply and demand is still strong support, tightening monetary policy or is now mainly due to withdrawal of funds back, but in the capital market heat dissipated after stage contradictions in the supply or actual production is expected, so we have cautious optimism on rubber.