Shanghai Daoqin Plastics Co., Ltd.

full 球遭遇暴跌, new 冠疫情 positive in accelerated expand dispersion 期, 疫情愈演愈烈, new 冠疫情 in short inner already to USA in inner very more 国家 社会 and 经济造 formed loss 害, for outlook/prospects formed 风险.

美联储当 time 15 day will 联邦基金利 rate target/goal lower 调至0-0.25% ultra- low water 平, 并启动7000 100 million USD amount wide plan, to 美联储 in front, drop will rate drop 至近0. value attention/notes is, is 美联储本 month 第二次 drop 息. front, time 3 month 3 day deep 夜美联储宣布 drop 息50 基点至1.00%-1.25%, this is 美联储自2008 year most large degree drop 息. 追溯, 美联储 upper one-time 实行零利 rate is in 2008 year melt machine 袭之际.

is for effect/influence, full large 央行联手货币 wide resistant new 冠病毒. China 人民银行决定于2020 year 3 month 16 day 实施普惠金 melt toward drop 准, for to standards 银行定 toward drop 准0.5至1 百 separation 点. 受疫情 effect/influence, separation enterprise 停工停产, 一 服务业 enterprise and 体工商户甚至承受 不 small loss; again 者, outer effect/influence toward inner 传导, full 球疫情持续 expand dispersion and outer factory 停工停产 for outer export has effect/influence, export is significantly. lower add outer 疫情蔓延, inner wide 松窗口期 or will long, this in 一定程 degree upper will small micro and enterprise melt 资, hydrophobic 通货币传导渠道. however, rear 石化库存处于 versus for high 位（ basic in 120 10,000 tons above ）, sales pressure still 存, tube/pipe cationic month already 至, inner to has control, lower demand low and in supply increase more and other for PE形 formed pressure made, short or 延续供 strong/high low landscape.

3 month 15 day upper 午10:50 Malaysia plant/unit 发生爆炸, currently and 90 10,000 tons / year PP, 75 10,000 tons / year PE plant/unit already 停车. plant/unit 包括35 10,000 tons / year LLDPE and 40 10,000 tons / year HDPE plant/unit, remove meet/satisfy 俄罗斯本土 demand, focus/key point export China market. 众 周知, is polyethylene (PE) Imported large 国, from 2019 year data 看, polyethylene (PE) industry to rate in in low water 平, remove 8 month industry to rate most low in 50% below/following, its month to rate basic in 50-60% scope/range. lower 面, 我们一起 review lower 2019 year Malaysia Imported polyethylene (PE) 情况.

据 statistics data 显示, 2019 year Imported PE累计总 amount 约1666.57 10,000 tons, its in LDPE Imported 约343.06 10,000 tons, HDPE Imported 约799.79 10,000 tons, LLDPE Imported 约523.71 10,000 tons. 2019 year 我国自马拉西亚 Imported polyethylene (PE) amount 约39.32 10,000 tons, 占PE总 Imported amount 2.36%. 此次马油HDPE and LLDPE涉 and production capacity 占2019 year Imported HDPE, LLDPE总 amount 5.00% and 6.68%, ratio versus for small, more 何况, its product also need meet/satisfy 俄罗斯本土 demand, that inner 自马油 Imported amount versus for less, 故本次爆炸事 parts for inner polyethylene (PE) market effect/influence relatively small.