A brief comment on the PP market of China Plastics

2022-08-16
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On June 17, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index rose 2.55 points to 955.16 points, and China Plastics warehouse receipt index rose 6.65 points to 916.05 points

I. review of crude oil market

crude oil futures closed down on Tuesday, affected by the rise of the US dollar. In addition, as economic data showed that the U.S. economy was far from recovering, the U.S. stock market fell, which was a drag on crude oil prices. The settlement price of light and low sulfur crude oil futures contract on the New York Mercantile Exchange (NYMEX) in July fell 15 cents to $70.47 a barrel, down 0. The micro Vickers hardness test is also used to test very small or very thin parts 2%, but it still holds the important psychological level of $70. The settlement price of August Brent crude oil futures contract on the London Intercontinental Exchange (ice) was flat at $70.24

II. Fundamental information

① spot market:

today, the overall situation of PP market declined slightly, and the transaction is still depressed. The decline of crude oil has made some businesses with more goods panic, and they have sold goods and reduced their positions. Businesses with less goods continue to firm their quotations and wait and see. Petrochemical continues to stabilize the ex factory price, and the market supply cost is high. The market is still supported by costs, and it is expected that the decline will not be too large in the short term

② dynamics of China Plastics spot Mall:

in afternoon trading today, the overall price of China Plastics spot Mall () PP was mainly downward, with a decline of yuan/ton. Only two brands increased, up 50 yuan/ton and 100 yuan/ton respectively. Launch a new Pu material for liquid 3D printing

III Technical status

variety

opening price

closing price

settlement price

trading volume

order volume

pp0907

9400

9550

9435

31

358

pp0908

9370

9485

9447

307

3469

pp0909

9400

9520

:0531 (8) 3 determine the stress change on the sample 157169.9473

964

1579

pp0910

9435

9540

9 498

27

33

quotation unit

yuan/ton

batch

data source: China Plastics information ()

PP warehouse receipts opened slightly lower today, with strong support from buyers in the early stage accelerating the upward rally, and then the upward trend continued. The upward trend of volatility has been until the end of the day. PP warehouse orders closed at 1059.70 points, up 7.78 points or 0.74% from the previous trading day. PP index daily K line closed at the middle positive line; The 5-day moving average continued its downward trend, finishing above the physical center of gravity; KDJ index continues to decline, subject to overbought areas; The opening of the BOL line is narrowed, and the late trading entity moves up the track in the price line, and the price line inclines upward. The trading atmosphere in the PP warehouse receipt market today was general, the trading volume decreased compared with the previous trading day, and the order volume increased steadily. The cumulative total trading volume was 1335 batches, a decrease of 322 batches compared with the previous trading day; The order quantity was 5451 batches, an increase of 189 batches over the previous trading day

pp0909, the main variety, opened low at 9400 yuan/ton and rose high. After the early low-level accelerated, it rose violently. Supported by the buyer, the upward trend of fluctuation remained until the end of the session, it closed up at 9520 yuan/ton. The settlement price of pp0909 was 9473 yuan/ton, up 69 yuan/ton from the previous trading day

IV. aftermarket forecast

although the crude oil price and spot market have fallen, the warehouse receipt market has risen strongly with the support of the buyer, but the rise is only a temporary scenery. It is expected that the PP warehouse receipt market of Sinochem will have a greater possibility of shock and decline tomorrow

note: the reprinted content is indicated with the source. 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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