A brief comment on the PVC market of China Plastic

2022-08-23
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On November 8, China Plastics warehouse receipt PVC market brief comment

I. Market Overview:

although crude oil futures prices fell slightly on Wednesday, PVC rose. Today, China Plastics PVC warehouse receipt opened low, fell under the pressure of the seller in the early stage, and then rose in the buyer's shock and rebound. In the late trading, the trend was stable and closed slightly higher. The PVC index closed at 1208.61 points, 3.38 points lower than their spiritual settlement price on the previous trading day, The K-line of the index closed at the small positive line on the day, the physical center of gravity moved down slightly, the rise of KDJ index continued to run in overbought areas, and the red column of MACD index was slightly enlarged. The disk situation: the trading of the large market was stable, the trading of the intraday was relatively balanced, and the majority of operations changed hands, with 170 tons of PVC traded, a decrease of 160 tons compared with the same period of the previous trading day

II. Analysis of main varieties:

pv0712 rose, opened higher and walked higher, and then reversed and fell after the price rise in the front market. The price in the middle market rose wider and higher, the trend in the late market was stable and extended horizontally, and the final market closed higher. The settlement price closed at 7087 yuan/ton, increased by 37 yuan/ton in the previous trading day, closed at the bareheaded little sunny line on the daily K-line chart, and the 5-day moving average rose, located above the entity, and closed at the "one" line on the 30 minute K-line chart, The opening of the brin line was enlarged, and the double volume was basically the same as that of the previous trading day

pv0801 opened slightly lower, the front price fell sharply under the pressure of the seller, and then was shaken by the buyer, and rose in shock. The middle and rear price trend was stable, extending horizontally to the end, and closed slightly higher. The settlement price closed at 7080 yuan/ton, down 30 yuan/ton compared with the previous trading day. It closed at Changyang Guangguang on the daily K-line chart, and the 5-day moving average rose across the entity. The trading volume decreased slightly, and the order volume contracted slightly

III. comprehensive analysis:

international oil prices fell back on Wednesday. As the decline in U.S. crude oil inventories was less than expected and demand fell, WTI and Brent closed at $96.37 and $93.24/barrel, down $0.33 and $0.02/barrel respectively; In terms of spot goods: the market atmosphere is good today, with the quotation rising slightly, and most market participants are waiting for the future. Overall, the market has recovered slightly recently, and it is expected that PVC warehouse receipts will play an increasingly prominent role in major technology research and development and achievement transformation in the near future, which is likely to rise in China

(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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