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Crude oil continues to fall sharply. What is the impact of the plan to stop production and limit production in many steel mills on the black system?_SMM


The content below was translated by Tencent automatically for reference.
By the end of the afternoon of July 20, some varieties in the domestic commodity futures market had fallen sharply. Rubber, low-sulfur fuel, styrene and beans fell by more than 5%; rubber, low-sulfur fuel, styrene and beans fell by more than 4%; pulp, fuel and PTA fell by more than 3%; asphalt, Shanghai nickel, LPG, Shanghai silver, red dates, glass and apples fell by more than 2%; coke and coking coal rose by more than 2%; and thermal coal, eggs and PP rose by more than 1%.
With worries, crude oil futures continue to decline.
Over the weekend (July 18), OPEC + issued an official statement saying that the major oil-producing countries had reached a preliminary agreement. Analysts believe that although this move avoids the collapse of the production reduction alliance, because a number of oil-producing countries have increased their total production baseline to 1.63 million barrels per day, which i ....

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