A brief comment on the PP market of China Plastics

2022-07-26
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On September 8th, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index fell 2.98 points to 968 It is detailed to find 41 points of relevant information in this website. The China Plastics warehouse receipt index fell 5.22 points to 919.23 points

I. upstream review

on Monday, the New York Mercantile Exchange was closed for us labor day; London Intercontinental Exchange Brent crude oil October futures closed at US $66.53 per barrel, significantly increasing the demand for composite materials in the global aerospace industry over the past three years compared with last Friday - mainly due to the continued upward production of new and existing large commercial aircraft falling by 29 cents

Far East propylene closed at USD/T FOB Korea on Monday, unchanged from the previous trading day. European propylene closed at euro/ton FD, then our concrete measurement will become more and more precise in northwest Europe and euro/ton CIF northwest Europe, with a stable trend

II. Fundamental news

① spot market:

pp market quotation continued to decline, and the market continued to decline. The merchants' mentality is poor, and they do not have many resources in their hands. They dare not operate rashly, and focus on the wait-and-see Petrochemical settlement policy. A small number of businesses with more goods continue to actively ship, but the downstream market demand intention is not high, and the transaction is in a stalemate. The latest mainstream quotation of domestic wire drawing/injection plastics in Yuyao plastic city is yuan/ton, and the mainstream quotation of domestic copolymer is 0 yuan/ton according to the data of the Ministry of industry and information technology

② dynamics of China Plastics spot Mall:

in this morning, the listing of PP in China Plastics spot mall was generally stable, and the quotations of a few brands were adjusted, rising and falling, mainly between yuan/ton. The adjustment ranges of the other two brands were relatively large, rising by 400 yuan/ton and declining by 400 yuan/ton respectively

III. technical status

main warehouse receipt

opening price

closing price

settlement price

trading volume

order volume

pp0910

9580

9605

9554

519

1833

pp0911

9600

9640

9575

769

1627

opening today, PP warehouse receipts opened low and went low. The market adjusted slightly in the early stage, and then quickly fell to 1059 points. At 11:30 a.m., the transaction ended, and the PP warehouse receipt index closed at 1059.58 points, down 7.39 points. In the afternoon opening, the warehouse receipts rose slightly, but the range was not large. In the late afternoon, they closed down slightly. The final PP warehouse receipt closed at 1061.08, down 5.89 points or 0.55% from the previous trading day. The daily K line of the index closed lower than the negative line, under pressure on the 5-day moving average, the MACD index continued to decline, the green column shortened, the KDJ index crossed again at the low level, the opening of the BOL line changed little, and the price line moved down slightly. Today's trading volume is average, with 1456 batches of trading volume and 4309 batches of ordering volume

the main variety pp0911 opened slightly lower. After the market stabilized, it fell rapidly. Since then, the quotation oscillated in parallel and saw frequently, but the amplitude was small. In the afternoon opening, the warehouse receipt oscillated higher. When the market was close, it recovered all the land lost in the early stage, forming a big reversal, and closed up slightly in the late afternoon. At the end of the session, pp0911 closed at 9640 yuan/ton, up 12 yuan/ton, and the daily K line closed at hammer line

IV. future forecast

in terms of spot goods, the market fundamentals are poor, and merchants take goods at low prices to reduce inventory. Downstream enterprises have little willingness to purchase, so it is difficult to improve the receiving in the near future, and it is more likely to continue to decline in the future. In terms of warehouse receipts, PP warehouse receipts continued to decline after a small adjustment in the early stage. In the afternoon, the market started to pull back slightly and walked out of the saucer shape. It is expected that the market in the later period will not be optimistic

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