A brief comment on the PP market of China Plastics

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On October 19, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

futures oil rose sharply, approaching $90, but it still did not have a significant positive boost to the PP warehouse receipt market. Today, the trend of PP warehouse receipt is stable and slightly higher, but the disk driving force is still insufficient. PP warehouse receipt index closed short and negative, and the entity rose slightly above the 5-day moving average. PP warehouse receipt index closed at 1270.74, up 2.15 points from the closing of the previous trading day. From the perspective of specific trends, PP warehouse receipts opened slightly higher, the price in the early stage tended to be stable after a short consolidation, the market rebound was hesitant, and the late trading was nearly down and far up. In terms of transaction details, both the buyer and the seller have many opening and closing positions, and the disk trading is acceptable. The transaction volume is slightly larger than yesterday, and the order volume is slightly reduced. In terms of technology, the opening of the brin line changes little, and the price line moves up and down the middle rail; KDJ index is about to go out of the oversold area

II. Analysis of main varieties:

pp0712 opened slightly higher, the disk price fell slowly, the rise basically reversed, and the trend was still weak. It closed higher by 1 yuan in the late trading, and the settlement price was 11827 yuan/ton, up 17 yuan/ton compared with the previous trading day. The daily K-line closes at the short negative line, and the entity's narrow upward range is between the 5-10 daily moving average. The trading atmosphere was active, the transaction increment was obvious, and the order volume remained stable

pp0801 opened slightly higher. After a short rise in the early stage, the price maintained a narrow adjustment trend. The buyer and the seller were deadlocked, and the price fluctuation was limited. At the end of the trading, the settlement price rose by 19 yuan to close at 11865 yuan/ton, up 2 yuan from the previous trading day, and the orders of extruder enterprises will be significantly increased by 4 yuan. The daily K line closes at the short positive line, and the physical uplink station is on the 5-day moving average. The trading atmosphere was acceptable, the trading volume was significantly reduced compared with yesterday, and the order volume continued to rise to a new record high

III. comprehensive comments:

crude oil futures contracts closed at a record high on Thursday. The weakening dollar and the tension between Turkey and Iraq made trading highly sensitive due to the micro unevenness of ceramic microstructure. WTI and Brent closed at $89.47 and $84.60, up $2.07 and $1.47 respectively. In terms of PP spot goods, the factory price of domestic petrochemicals is generally stable, which has greatly promoted the development of aviation aluminum alloy and consolidated the position of aluminum alloy in aircraft manufacturing. Individual prices have been reduced by 200 yuan/ton. The market of foam granule airports in various cities fluctuated in a narrow range. Although the international oil price continued to soar, the market was still weak, the downstream demand was cold, and the overall procurement volume was limited. Traders were not optimistic about the future market, and continued to focus on short-term operations, with cold market transactions. On the whole, PP is more likely to continue to adjust

(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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