A brief comment on the PP market of China Plastics

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On September 17, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index fell 0.69 points to 954.95 points, and China Plastics warehouse receipt index rose 0.21 points to 906.95 points

I. upstream review

on Wednesday (September 16), the settlement price of West Texas light oil futures in October on the New York Mercantile Exchange was $72.51 a barrel, up $1.58 from the previous trading day, with a trading range of 70 $56; The November futures settlement price of Brent crude oil on the London Intercontinental Exchange was $71.67 a barrel, up $1.81 from the previous trading day, with a trading range of 69 72 dollars

Far East propylene closed at USD/ton FOB South Korea on Wednesday, down $15/ton. European propylene closed but did not affect users' use. 7 major organic sheets have been processed in euro/ton FD northwest Europe and euro/ton CIF northwest Europe, with a stable trend. Us propylene closed at 50 63 cents/pound, down 0.62 cents

II. Fundamental news

① spot market:

pp market is weak, the impact of oil price rise is slight, and the offer of merchants still declines. Traders are worried about the future market, dare not purchase in large quantities, and operate cautiously to reduce risks. Downstream demand is light, and there are not many transactions. The latest mainstream quotation of domestic wire drawing/injection plastic in Yuyao plastic city is yuan/ton, and the mainstream quotation of domestic copolymer is yuan/ton

② dynamics of China Plastics spot Mall:

the listing of PP in China Plastics spot mall was generally stable at noon today, and the quotation of a few brands was adjusted, mainly between yuan/ton, while the adjustment range of individual brands was large, with a decline of 650 yuan/ton

③ inventory dynamics:

in the first half of September 2009, the total inventory in the main domestic PP and PE markets increased slightly, an increase of 1.05% over August 31, 2009. Among them, PP inventory increased moderately, with an increase of 2.18% compared with the end of last month, and PE inventory increased slightly, with an increase of 0.76% compared with the end of last month. Regionally, the inventory in the South increased slightly, with an increase of 0.94% compared with the end of last month, and the inventory in the north also increased slightly, with an increase of 1.32% compared with the end of last month

III. technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order volume













this morning, PP warehouse receipts opened slightly higher, the market rose first and then fell, peaked and retreated, and the index gradually fell. After 11:00, the warehouse receipt fell below yesterday's settlement price, and the trend was weak. At 11:30 a.m., the trading ended, and the PP warehouse receipt index fell 0.16 points to 1046.98 points. In the afternoon opening, the market fell slowly and ended slightly lower in the late afternoon. The final PP warehouse receipt closed at 1046.63 points, down 0.51 points or 0.05% from the previous trading day. On the index day, the K-line closed down, the physical center of gravity decreased significantly, the MACD index continued to decline, the green column shortened, the KDJ index operated in the oversold area, the opening of the BOL line narrowed significantly, and the price line moved down slightly. Today's trading volume was poor, with 1338 batches and 4440 batches of orders

the main variety pp0911 opened high and went high, and the market fell down after exploring the high, turning up into falling. Because the manipulator can process products with complex shapes very quickly, the quotation oscillates horizontally below yesterday's settlement price, and the fluctuation range is small. The buyer and the seller exchanged notes on the hydraulic universal testing machine, including offense and defense, frequent sawing, and a small decline in the late trading. At the end of the day, pp0911 closed at 9455 yuan/ton, down 18 yuan/ton, and the daily K line closed at a short negative line

IV. future forecast

in terms of spot oil, although crude oil has warmed up, most traders are not optimistic about the future market, resulting in a significant increase in the wait-and-see atmosphere. In the later stage, rumors of petrochemical enterprises expanding production and feeding pervaded the market, but due to the support of oil prices, there is little room for PP prices to continue to fall. In terms of warehouse receipts, PP warehouse receipts opened slightly higher today, closed slightly lower, the market rose and fell, and the trend was weak. It is expected that the market may maintain a small consolidation pattern in the later period

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