Shanghai Petrochemical traded at 2.89 this Friday April 3rd, decreasing 0.06 or 2.03 percent since the previous trading session. Looking back, over the last four weeks, Shanghai Petrochemical lost 19.72 percent. Over the last 12 months, its price fell by 5.25 percent. Looking ahead, we forecast Shanghai Petrochemical to be priced at 2.82 by the end of this quarter and at 2.63 in one year, according to Trading Economics global macro models projections and analysts expectations.
Sinopec Shanghai Petrochemical Company Limited (Shanghai Petrochemical) is a petrochemical company. The Company and its subsidiaries are principally engaged in processing crude oil into synthetic fibers, resins and plastics, intermediate petrochemicals and petroleum products. The Company operates in five operating segments. The synthetic fibres segment produces polyester and acrylic fibers, which are used in the textile and apparel industries. The resins and plastics segment produces polyester chips, polyethylene resins and films, polypropylene resins and polyvinyl alcohol (PVA) granules. The intermediate petrochemicals segment produces p-xylene, benzene and ethylene oxide. The petroleum products segment is equipped with crude oil distillation facilities used to produce vacuum and atmospheric gas oils used as feedstock of the Company's downstream processing facilities. The trading of petrochemical products segment is engaged in importing and exporting of petrochemical products.