A brief comment on the PP market of China Plastics

2022-07-29
  • Detail

On november6,2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index rose 3.40 points to 966.20 points, and China Plastics warehouse receipt index rose 5.83 points to 922.79 points

I. upstream review

on Thursday (November 5), the settlement price of West Texas light oil futures in December on the New York Mercantile Exchange was $79.62 a barrel, down $0.78 from the previous trading day, with a trading range of 79 US $52; The settlement price of December Brent crude oil futures on the London Intercontinental Exchange was $77.99 per barrel, down $0.90 from the previous trading day, with a trading range of 77 $95

Far East propylene closed at USD/T FOB Korea on Thursday, up 5 USD/T. European propylene closed at euro/ton FD northwest Europe (down 5 euros) and euro/ton CIF northwest Europe (down 5 euros). Us propylene closed at 44 38 cents/pound, up 2.125 cents

II. Basic news

① spot market:

pp market quotation has stabilized, and some brands have slightly declined. The oil price dropped slightly, but within the forecast range, it has little impact on the mentality of businesses. Most traders ship goods in line with the market, and the intention to prepare for warehouse is weak. As the weekend approached, downstream demand did not improve. Most of them were on the sidelines, and actual transactions were limited. The latest quotation of Yuyao plastic city is RMB/ton for domestic copolymers and RMB/ton for imported copolymers

② dynamics of the China Plastics spot Mall:

the listing of PP in the China Plastics spot mall at noon today. The quotations of some brands were adjusted, with both ups and downs, mainly between yuan/ton

III. technical conditions

main warehouse receipts

opening price

closing price

settlement price

chengsui de capacity, cancellation of floor bars, liquidation and arrangement of electrolytic aluminum Measures such as peak shifting production shall be taken to increase the delivery volume

order volume

pp0912

9520

9625

9596

331

1755

pp1001

9670

97 brand awareness shall be further increased by 70

9739

918

2034

opening today, PP the warehouse receipt opened sharply lower, the market rose rapidly, and turned up before the mid market. Since then, the market continued to rise. After 9:30, the trend gradually stabilized and the sideways oscillation extended. At 11:30 a.m., the transaction ended, and the PP warehouse receipt index closed at 1063.53, up 6.11 points. In the afternoon opening, the market continued to explore slightly, but the change was small. In the late afternoon, the market closed up in the middle. The final PP warehouse receipt closed at 1064.51, up 7.10 points or 0.92% compared with the previous trading day. On the index day, the K-line closed at the long positive line, intersected with multiple moving average lines within the entity, the MACD index double line rose slightly, the red column reappeared, the KDJ index built a fork at the low level, the opening of the BOL line narrowed significantly, and the price line intersected with the medium gauge. Today's trading volume is average, with 1419 batches of trading volume and 4672 batches of ordering volume

the main variety pp1001 opened slightly higher, and the market rose rapidly. After 9:30, it turned to a horizontal oscillation trend. In the afternoon opening, the quotation continued to extend in a narrow range. In the end, it rose slightly and closed up sharply. At the end of the session, pp1001 closed at 9770 yuan/ton, up 103 yuan/ton, and the daily K line closed at the mid Yang line

IV. future forecast

although the crude oil returns slightly, the plastic market maintains a small upward trend. Liansu and warehouse receipt market rose well today, rising in the afternoon, covering part of the decline over the weekend. From the trading situation of Liansu, the rebound has aroused the enthusiasm of the bulls to build positions, which may rise further in the short term, and the operation is cautiously bullish

note: the reprinted contents are indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with their views or confirm the authenticity of their contents

Copyright © 2011 JIN SHI