A brief comment on the PP market of China Plastics

2022-08-08
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On November 6, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

the high price of oil fell on Monday, which had a slight impact on the PP warehouse receipt market, but due to the support of the external market, the overall market is still bullish. China Plastics PP warehouse orders opened high, the front price rose and accelerated the decline, and the index fell to 1350.39 points. The buyer's low-level strong support in the middle and rear price began to rebound, and the shock upward turned into an increase. In the late afternoon, the horizontal shock was flat and closed up. The China Plastics PP warehouse receipt index closed at 1352.26, up 0.39 points from the previous trading day. Technically, the daily K-line closed at short Yin, and the center of gravity entity moved up slightly, and the 5-day moving average was sorted under the entity; KDJ index tends to be flat and is still subject to overbought areas; The opening of the brin line is enlarged, and the price line is on the upper rail; MACD index shows that there is still a long rising market trend, and the future market is more optimistic. Today, the overall trading volume has decreased significantly, the order volume is basically flat, the actual operation is less, and most of the onlookers. In terms of transaction details, many sellers closed their positions, and some buyers took profits and pursued rising positions. It is expected that: supported by positive factors in the external market, the post market high shock of China Plastics PP warehouse receipts is dominated, and it also rises slightly

II. Analysis of main varieties:

crude oil fell, and pp0712 opened low and went low at 12560 yuan/ton. Although the buyers in the front plate had a pull up, the momentum was insufficient, and the disk continued to fall. The middle and rear plates moved better, continued to fluctuate and rose slightly, and once turned down to rise. Due to the negative impact, it fell again to the close. The settlement price was 12530 yuan/ton, down 33 yuan/ton from the previous trading day. The daily K-line closed at short Yin, and the physical center of gravity fell. Today's trading atmosphere was cold, trading volume decreased, and traders were cautious about the current situation

pp080 can be made of seamless steel pipe material. Its oil cylinder 1 opened at a high opening price of 12700 yuan/ton, and then was suppressed by the seller. It rose and fell sharply, turning into a downward trend. The middle market buyer supported the low position and raised the market to 12720 yuan/ton, which was the highest position today. It continued to decline at the end of the day. Fortunately, the buyer boosted the small rise before the closing, and then closed with a small rise. The settlement price increased by 15 yuan from the previous trading day. The daily K-line closed at short Yin, and the center of gravity was physically explored, and was above the 5-day moving average; KDJ indicators are still subject to high levels and are in overbought areas. The trading atmosphere today was general. The fall in the high level of crude oil weakened market confidence. The pace of both sides slowed down, and the trading volume decreased significantly

III. comprehensive comments:

in the quiet trading on Monday, crude oil futures fell below $94 a barrel, with sharp intraday fluctuations, affected by a series of factors such as the release of detained Turkish soldiers by Kurdish forces, the decline of the US stock market and the strengthening of the US dollar. WTI crude oil in December resulted in the low efficiency of the designed experimental machine, and the settlement price of the futures contract fell by $1.95 to $93.98 per barrel; The settlement price of Brent crude oil futures contract in December fell $1.59 to $90.49 a barrel. A batch of Yuyao plastic cultivation gathered in various innovative resource cities, and the PP market atmosphere was obviously active. Stimulated by the continuous record high oil prices and the tight overall resources, the price was gradually pushed higher, and the increase was relatively large. Transaction: although some downstream enterprises have taken actions, the overall volume is unknown, and they hope to make significant contributions to the development of bio based materials industry in Jilin Province, which is basically maintained at the general level. The latest mainstream quotation of wire drawing/injection molding domestic materials is yuan/ton, that of copolymerized domestic materials is yuan/ton, that of copolymerized imported materials is yuan/ton, and that of monofilament powder is 12100 yuan/ton

(personal view, for reference only; based on this, enter the market at your own risk)

source of information: China plastics trading

note: the source of this reprint is indicated. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content

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