A brief comment on the PP market of China Plastics

2022-07-28
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On December 1st, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index rose 1.91 points to 1004.43 points, and China Plastics warehouse receipt index rose 5.93 points to 959.16 points

I. upstream review

on Monday, the monthly price of light and low sulfur crude oil delivered in January on the New York Mercantile Exchange recently rose by $1.23 to $77.28/barrel, or 1.6%. The price of Brent crude oil on ICE Futures Exchange rose $1.29, or 1.7%, to $78.47/barrel

II. Basic news

① spot market:

today's PP market quotation is stable. Recently, the new price policy of Sinopec has raised the quotation slightly, and mainly listed for sale. The market confidence has been hit to some extent, the merchants' shipping intention has been significantly enhanced, and the quotation extraction yield can reach more than 90%, which has become loose. However, the terminal demand has not been expanded, and downstream manufacturers continue to buy with use. The PP market continued to consolidate

② dynamics of China Plastics spot Mall:

the listing of PP in China Plastics spot mall at noon today, the quotations of some brands were adjusted by RMB/ton, and another brand was adjusted by RMB 1000/ton

III. technical status

main warehouse receipt

opening price

closing price

settlement price

trading volume (batch)

ordering volume (batch)

pp1001

10050

10170

10098

1026

2419

pp1003

1023 10

10300

10234

578

733

opening today, the PP warehouse receipt opened slightly higher, fell back slightly in the morning, and at 10 o'clock, the PP rising market started. Finally, it closed at 1105.34, up 6.99 points or 0.64% compared with the previous trading day. The daily K line of the index closed at the lower shadow short positive line, and the physical center of gravity increased. The great increase in the height of the green column of MACD index was mainly due to the continuous decline of extruder imports since October last year; KDJ index shows that the opening of the three lines tends to be closed upward. The trading atmosphere in today's market was acceptable, and the trading volume increased slightly compared with yesterday. Today, the total trading volume of PP warehouse receipts was 1790 batches, and the order volume was reported as 4088 steel batches

the main variety pp1001 opened slightly higher at 10050 yuan/ton, and then the market fluctuated and rose successively, reaching the highest point of 10280 yuan/ton. There was a stalemate in the market at the end of the trading day, and the closing price of pp1001 was 10170 yuan/ton, up 138 yuan/ton, and the daily K line closed at the positive line

IV. future forecast

today, the international oil price rose rapidly due to the international tension. Although the spot performance was not satisfactory, the traders' enthusiasm for speculation was mobilized, and there was an active atmosphere in the PP warehouse receipt market. However, the rise in this wave is small and the trend is relatively flat, which to some extent shows the current situation of insufficient market confidence. It is expected that if there is no significant positive, the short-term PP warehouse receipt 1, rough measurement method of cable fault and overview of development history will still have resistance to market rise

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