A brief comment on the PP market of China Plastics

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On October 15, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

the continuous rise of futures oil did not form a positive boost to the PP warehouse receipt market. Today, PP fell slightly, the disk trend was weak, buyer confidence was always difficult to improve, and the driving force was insufficient. PP warehouse receipt index closed at the short negative line, and the physical dip was below the 5-day moving average, with obvious resistance at the 5-day moving average. The PP warehouse receipt index closed at 1271.02, down 4.55 points from the previous trading day. From the specific trend, PP warehouse receipts fell slightly across the board at the opening, and the disk price fluctuated and fell, and the decline expanded. At the end of the day, except for pp0710 warehouse receipts, which closed slightly higher in recent months, other varieties closed down. In terms of transaction details, many sellers returned in the short term and new air forces entered, some buyers took in bargain hunting, the disk trading was stable, the trading volume was slightly reduced compared with last Friday, and the order volume increased slightly. In terms of technology, the opening of the Bollinger line was slightly expanded, and the price line broke through the lower limit; The downward trend of KDJ index is about to enter the overbought area

II. Analysis of the main varieties of ordinary ball screws:

pp0712 opened slightly lower, and the price fluctuated and adjusted in the early stage, with a large range. Then the price gradually fell slowly under the pressure of the seller, the decline expanded, and the trend stabilized in the middle and late stages. At the end of the trading, the settlement price fell by 62 yuan to 11840 yuan/ton, down 42 yuan/ton from the previous trading day. The daily K-line closed at the negative line, and the entity went down, and the resistance at the 5-day moving average was obvious. The trading atmosphere was acceptable, and the order volume increased slightly

pp0801 opened slightly lower, and the disk price gradually fluctuated and fell. The buyer was unable to fight back, and the trend was weak. At the end of the day, it closed down 72 yuan. The settlement price closed at 11847 yuan/ton, down 45 yuan from the previous trading day. The daily K line closed at the middle and negative line. The entity has good heat resistance, good chemical and radiation resistance, and good comprehensive mechanical properties such as flame retardancy, stiffness, strength, toughness, creep, wear and tear. It was depressed by the 5-day average downward. The trading atmosphere was active, and the order volume increased

III. comprehensive comments:

crude oil futures closed higher on Friday. The continuous decline in inventory caused the market to worry about the northern hemisphere's winter supply shortage. At one time, it broke through $84, hitting a record high. WTI and Brent closed at $83.69 and $80.55, up $0.61 and $0.40 respectively. In terms of PP spot goods, the ex factory price of domestic petrochemicals is generally stable with little change. The market situation in various regions is basically stable. At present, the overall supply of goods in the market is general, the market atmosphere is difficult to be active, the demand of downstream factories continues to be depressed, the mentality of merchants is weak, the confidence in the future market is not strong, the enthusiasm of operation is difficult to be improved, and the transaction is flat. Overall, PP market is difficult to be optimistic

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

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