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Last Price Today's Change   Day's Range   Trading Volume
8.98   +0.03 (0.34%)  8.90 - 9.03  7,626,600
3,517 comment(s). Last comment by Fabien _the efficient capital allocator at Jan 19, 2022 8:22 PM
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8711 posts

Posted by tkl88 > Apr 9, 2020 7:05 AM | Report Abuse

Wow, Fabulous!
Dow Jones closed at=> 23,433.57 (+779.71) (+3.44 percent)

8711 posts

Posted by tkl88 > Apr 9, 2020 7:07 AM | Report Abuse

Oh My goodness,
Oil price was unbelievable spike up to the sky high !
As at 4.35am,
Nymex => $26.‪09 (+2.46) (+10.41%)‬
Brent => $33.‪54 (+1.67) (+5.24%)‬

8711 posts

Posted by tkl88 > Apr 9, 2020 7:14 AM | Report Abuse

Oil Spikes After Algeria Says OPEC+ Cuts Could Reach 10 Million Bpd
By Julianne Geiger - Apr 08, 2020, 2:20 PM CDT


The price of a West Texas Intermediate barrel of oil shot up on Wednesday afternoon by nearly 7% shortly after OPEC’s President gave the market fresh optimism about tomorrow’s virtual OPEC++ meeting.
“The meeting will undoubtably be fruitful in order to rebalance the market through measures we will take tomorrow,” Mohamed Arkab, OPEC’s President and Algeria’s Energy Minister told state news agency APS, according to Reuters.

While an intangible statement, the optimistic words spoken by the OPEC President seem to be just what the doctor ordered for the volatile markets as speculators try to make the most out of the oil-price plunge.
As a result of today’s spike, trading of the biggest oil ETF, the United States Oil Fund (USO), had been halted temporarily. Trading of the USO has since resumed. The USO is trading up 4.03% as of 3:03pm EDT.
All eyes remain on the potential deal that OPEC group may come up with tomorrow in what could be the largest oil production cut deal ever. Signatories to the deal could include, in addition to OPEC, Brazil, Norway, Canada, and all the OPEC+ countries that signed onto the previous deal. While some are hoping that the United States may join in the cuts, a formal agreement between the US and other oil producers appears unlikely.
Saudi Arabia and Russia, together responsible for producing more than 22 million barrels per day, are expected to make or break the chances of a production cut deal.

A 10 million bpd figure has been discussed by meeting attendees in the run-up to the meeting, although that figure would be insufficient to offset the loss in oil demand that the market has seen due to the coronavirus.

By Julianne Geiger for Oilprice.com

1976 posts

Posted by Junichiro > Apr 9, 2020 9:15 AM | Report Abuse

Unless the US join in, a deal seems so far away.

131 posts

Posted by mobidick > Apr 9, 2020 10:32 AM | Report Abuse

US cannot join, there is so many antitrust law in US. The 3 major competition law under dept of justice, sherman-clayman-FTC. There is no way trump can get enough support to repeal clauses of those laws. Whats more likely is US will strongarm saudi so they will negotiate with russia.

For pchem material stocks of LNG gas will get cheaper so thats good because korea gas already asked petronas to defer shipment due to demand. With no place to go petronas will feed pchem. Short term cash squeeze, but over time its positive.

640 posts

Posted by kl_guy > Apr 13, 2020 12:19 PM | Report Abuse

someone is collecting at 4.83 .

640 posts

Posted by kl_guy > Apr 13, 2020 2:50 PM | Report Abuse

only left 1 or 2 seller now.

640 posts

Posted by kl_guy > Apr 14, 2020 9:46 AM | Report Abuse

look like operator collect enough . now on up trend.

443 posts

Posted by deadchicken > Apr 14, 2020 9:59 AM | Report Abuse

PP price is on uptrend. Both PCHEM & LCTITAN will benefit.

443 posts

Posted by deadchicken > Apr 14, 2020 10:09 AM | Report Abuse

insider buying

4123 posts

Posted by Titanium > Apr 14, 2020 10:12 AM | Report Abuse

Aminvest gave Pchem TP at RM3.25???? I'm sorry but for once I wish it will come true......hehe......

443 posts

Posted by deadchicken > Apr 14, 2020 10:44 AM | Report Abuse

break RM5.00 soon.

3834 posts

Posted by mamatede > Apr 14, 2020 1:40 PM | Report Abuse

Aminvest is such a joke. Can you imagine giant Pchem to be at RM3.25?

443 posts

Posted by deadchicken > Apr 14, 2020 2:42 PM | Report Abuse

SINGAPORE (ICIS)--China’s domestic polypropylene (PP) prices have rallied since end-March, driven by spiking demand for downstream face masks amid the coronavirus pandemic, while supply of some grades has tightened partly due to scheduled plant turnarounds.

On 10 April, spot prices of PP yarns, injections and low melt-index block copolymers in east China stood at yuan (CNY) 7,425/tonne; CNY7,500/tonne and CNY7,650/tonne, respectively, according to ICIS data.

The prices have rebounded by nearly CNY1,142/tonne or an average of 18% from lows recorded in end-March, the data showed.

ICIS Editorial Chart goes here

Overseas demand for face masks has been surging as global coronavirus infections reached 1.7m, with the death toll at above 100,000. The outbreak is believed to have emerged late last year in Wuhan in central China.

With a growing number of people across the world wearing face masks as protection against infection from the flu-like virus, demand for PP fibres was consequently boosted.

PP fibres with a melt index of 35-40 make up the outer layer of face masks, which typically comprise two layers of fibres and middle melt-blown material, according to experts.

For major producer Dushanzi Petrochemical, offers for its S2040 PP fibres reached as high as CNY25,000/tonne, according to market sources.

Booming demand and high margins have prompted China’s domestic polyolefin producers to start switching to producing PP fibres since late March.

A total of 28 domestic PP plants in the country with a total capacity of 6.53m tonnes/year - about 26% of China’s total capacity for the polymer - have made the switch to producing high melt-index PP fibres, according to industry sources.

More production of PP fibres has squeezed supply for other general-purpose grades further, triggering the price uptrend.

A number of PP plants in China are due for maintenance in the second quarter.

Focus article by Aviva Hu

3834 posts

Posted by mamatede > Apr 14, 2020 3:27 PM | Report Abuse

Flying to the moon la this Pchem... hahaha opportunity of a lifetime to be able to collect more at this historical low...

131 posts

Posted by mobidick > Apr 14, 2020 3:37 PM | Report Abuse

Up swing is not sustainable, i have to admit i miss the rebound boat. Pchem make me a feel bitter. But i still have topglove to keep me happy. Lose some win some.

28845 posts

Posted by stockraider > Apr 14, 2020 3:43 PM | Report Abuse

If u want to play switch to Lctitan much better & safer loh....!!

3834 posts

Posted by mamatede > Apr 14, 2020 10:04 PM | Report Abuse

Lctitan is closing shop soon in Malaysia. Dont bother...

443 posts

Posted by deadchicken > Apr 15, 2020 9:05 AM | Report Abuse

PCHEM engine started....LCTITAN will follow

326 posts

Posted by xterrorsinx > Apr 15, 2020 11:45 AM | Report Abuse

Lctitan coming

467 posts

Posted by bnmacai > Apr 15, 2020 12:00 PM | Report Abuse

KLCI year end target 1900. Pchem at Rm15.

3834 posts

Posted by mamatede > Apr 15, 2020 12:29 PM | Report Abuse

pchem when rapid kick start should be looking at rm12. but this year and next not very good so around rm 8-9 should be ok

326 posts

Posted by xterrorsinx > Apr 15, 2020 3:15 PM | Report Abuse

Switch to LCTITAN

3834 posts

Posted by mamatede > Apr 15, 2020 3:52 PM | Report Abuse

Switch to dying company = LCTITAN

3834 posts

Posted by mamatede > Apr 17, 2020 12:24 PM | Report Abuse

Pchem Pchem..Make Malaysia Proud.

4411 posts

Posted by LALA > Apr 19, 2020 6:04 PM | Report Abuse

More to come.

112 posts

Posted by David > Apr 20, 2020 1:28 PM | Report Abuse

Pity those who blindly followed Aminvest. Petchem would very unlikely sell at liquidation value

Philip ( buy what you understand)
4300 posts

Posted by Philip ( buy what you understand) > Apr 20, 2020 2:23 PM | Report Abuse

How Margin Works


591 posts

Posted by Neut_ron1 > Apr 20, 2020 9:42 PM | Report Abuse

pchem is a well integrated company... pengerang is coming up.... valuable & net cash company....

4546 posts

Posted by CUTLOST > Apr 21, 2020 2:31 AM | Report Abuse

Cash out as long as can from treasury b4 too late..headimg resistant evendoor oil is crashing right now.

3194 posts

Posted by RedEagle > Apr 21, 2020 3:13 AM | Report Abuse

(Reuters) - Energy traders fled from the expiring May US oil futures contract in a frenzy on Monday, sending the contract into negative territory for the first time in history, as barely any buyers are willing to take delivery of oil barrels because there is no place to put the crude.

May US crude futures careened into negative territory about 20 minutes before the end of trading, falling to minus US$8 a barrel, down 146%.

With demand down 30% worldwide due to the coronavirus pandemic, and the main US storage hub in Cushing, Oklahoma expected to fill up in a matter of weeks, very few want to be stuck with oil barrels that they have to take delivery on at some point during May.

"The people who are long are desperate to get out," said Phil Verleger, a veteran oil economist and independent consultant.

112 posts

Posted by David > Apr 21, 2020 7:30 AM | Report Abuse

Bargain hunting day for those wth a long term view

4233 posts

Posted by Jeffreyteck > Apr 21, 2020 8:48 PM | Report Abuse

Still very strong.

1 post

Posted by wonderful2 > Apr 21, 2020 8:49 PM | Report Abuse

4.03% as of 3:03pm EDT. ????

3205 posts

Posted by signalmw > Apr 21, 2020 8:56 PM | Report Abuse

Back to tp 3

4123 posts

Posted by Titanium > Apr 22, 2020 10:51 AM | Report Abuse

i park my 1st batch at 3.50 for 1 month....see match o not.......dream on??? Ya...life must have dream....lol....

3205 posts

Posted by signalmw > Apr 22, 2020 11:11 AM | Report Abuse

All in

214 posts

Posted by trader9918 > Apr 22, 2020 12:04 PM | Report Abuse

brent oil now dropped to 16.80 - 13% !! how low will it down

4123 posts

Posted by Titanium > Apr 22, 2020 3:38 PM | Report Abuse

i think it is low already...the next question is how long will it stay at this range. If it stays at this range till end of the year.....behold the fall of the goliath.

591 posts

Posted by Neut_ron1 > Apr 22, 2020 4:03 PM | Report Abuse

will brent price rise if shale oil no longer in production?

1976 posts

Posted by Junichiro > Apr 22, 2020 4:14 PM | Report Abuse

The problem is the US wants a free ride insisting on other nations cutting. Texas said they will go on producing the oil. Saudi Arabia continue to give deep discount to keep their market share. China, the biggest oil consumer n with the biggest storage buys from Russia n Saudi Arabia.
The solution is "shared prosperity" not supremacy.
Mexico, which hedged their oil in the futures market, has locked on the price of USD600 n is reluctant to cut their production further.

1976 posts

Posted by Junichiro > Apr 22, 2020 4:15 PM | Report Abuse

my error, should read "USD60"

8711 posts

Posted by tkl88 > Apr 23, 2020 8:03 AM | Report Abuse

Wow, Fantastic ! Dow Jones spike up to
closed at=> 23,475.82 (+456.94) (+1.99 percent) !

8711 posts

Posted by tkl88 > Apr 23, 2020 8:08 AM | Report Abuse

Wow, Fantastic,
Oil price started it’s bull run again !

Nymex closed at=> $13.78 (rose +19%)
Brent closed at=> $20.37 (rose +5%)

8711 posts

Posted by tkl88 > Apr 23, 2020 8:10 AM | Report Abuse

International oil prices rebound following Trump warning

April 22, 2020 8:09 pm by Myles McCormick and Joe Rennison in London, Hudson Lockett in Hong Kong and Matthew Rocco in New York

Brent bounces back from two-decade low after US president takes aim at Iranian vessels

Oil prices rebounded on Wednesday after Donald Trump stoked Middle East tensions, saying that he had ordered US warships to “shoot down and destroy” Iranian vessels if they posed a threat.
The US president’s intervention sent Brent crude back above $20 a barrel after the international benchmark had tumbled to its lowest level since 1999 on concerns over the collapse in global oil demand.
The declaration from Mr Trump also helped buoy the high-yield bond market, which is heavily exposed to the fate of energy companies. BlackRock’s iShare high-yield bond exchange traded fund, known by its ticker HYG, rose 1 per cent, having dipped 1.8 per cent on Tuesday.

“I have instructed the United States Navy to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea,” Mr Trump wrote in a tweet.
The prospect of renewed tensions in the Middle East gave crude a lift during a week where prices have struggled to contend with an evaporation in demand triggered by the coronavirus pandemic.

Brent rose as high as $22.45 a barrel and settled at $20.37, up more than 5 per cent on the day. The energy sector helped lead a rally on Wall Street that sent the benchmark S&P 500 up 2.3 per cent following two days of falls. The tech-heavy Nasdaq Composite closed up 2.8 per cent.
West Texas Intermediate, the US marker, rose 19 per cent to $13.78 a barrel. It almost halved during the previous session and earlier in the week fell into negative territory for the first time as producers were forced to pay buyers to take oil off their hands ahead of the expiry of futures contracts.

Brent crude remains down about 27 per cent so far this week. Oil production levels have remained robust even as the virus destroys demand, creating a supply glut. An unprecedented cut of almost 10 per cent of global supply by Opec and its allies will take effect next month, but traders worry it is not enough to offset the collapse in consumption.
The head of the International Energy Agency on Tuesday called for the output reductions to be expedited and deepened. Opec members met by phone overnight, but there was no sign they would change their plans.

1976 posts

Posted by Junichiro > Apr 23, 2020 9:20 AM | Report Abuse

The U.S. Energy Information Administration is suggesting there is notional space for just another 16 million barrels at the country’s storage hub for crude oil in Cushing, Okla., and that this could fill up by next week based on the average build trends seen this month.
3 hours ago (Apr 22, 2020 05:50PM ET)

Trump's tweet doesn't change the situation much. Russia will take the opportunity to pump n pump.

324 posts

Posted by Huatexpert > Apr 23, 2020 2:47 PM | Report Abuse

Petronas Refinery and Petrochemical confirms contractors’ staff tested positive for Covid-19


18570 posts

Posted by apolloang > Apr 23, 2020 10:08 PM | Report Abuse

yet the stock is 5.39? should be below 5.00 lah

12 posts

Posted by quanentdino > Apr 26, 2020 10:18 PM | Report Abuse


3834 posts

Posted by mamatede > Apr 27, 2020 1:28 AM | Report Abuse

petronas upstream has nothing to do with downstream. sudden drop of oil price always good for downstream

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