A brief comment on the PP market of China Plastics

2022-08-09
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On October 13, China Plastics warehouse receipts PP market brief review

I. Market Overview:

today, PP warehouse receipts opened higher across the board, with fierce intraday price competition, maintaining a narrow range of oscillation, and the overall closing down in the late trading. The disk situation showed that orders for PP warehouse receipts increased significantly, traders built a large number of positions in the session, and trading was relatively active. At the same time, the turnover rate today was significantly lower than the previous two trading days, and the consolidation at this price is expected to end in the near future. PP warehouse receipt index closed at 1280.82, down 0.43 points from the previous closing, and the daily K-line was negative for four consecutive times. Although the overall decline was small, it dealt a great blow to the bullish confidence of some traders. In terms of technical indicators, at present, the PP plate is oversold, and the installation accuracy of K relative to moving parts must meet the specified technical requirements. DJ and RSI indicators are sensitive to changes, and the reference value is reduced

II The theme of pratik Shah's speech is "A kind of optical fiber manufacturing process innovation adopting UV-LED curing system and new optical fiber coating design:

in December, the warehouse orders opened high and went low, and the orders increased slightly. The daily K-line is the negative line of the spindle, and the entity height is parallel to the K-line of the previous two days, but the intraday lowest price has reached a record low, the seller's pressure is large, and the number of offers also accounts for the majority proportion. On the whole, today's rebound pressure has been released, and the strength comparison between the trading parties has been tilted." Oblique, bearish mentality is dominant

III. comprehensive comments:

on the news side, futures oil oscillated and consolidated on Thursday, with a slight increase. The news of OPEC's production reduction is still confirmed, and the rebound is difficult to start. In terms of spot goods, the PP market with large experimental force and large diameter nylon rope tends to be stable today, and the manufacturer's quotation does not continue to be reduced, but the traders' mentality has not changed, and the market transaction continues to be weak. At the same time, the inventory pressure above petrochemical is obvious, which is difficult to recover in the short term. On the whole, PP warehouse receipts have a special performance today, and the market has entered a fragile critical state. The impact of the increase in order volume may trigger the market to start

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

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