A brief comment on the PP market of China Plastics

2022-08-02
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On August 12, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index rose 2.74 points to 1026.44 points, and China Plastics warehouse receipt index rose 2.76 points to 1006.68 points

I. upstream review

on Tuesday (August 11), the settlement price of West Texas light oil futures in September on the New York Mercantile Exchange was $69.45 a barrel, down $1.15 from the previous trading day, with a trading range of 68 25 dollars; The settlement price of September Brent crude oil futures on the London Intercontinental Exchange was $72.46 a barrel, down $1.04 from the previous trading day, with a trading range of 71 19 dollars

Far East propylene closed at USD/T FOB Korea on Tuesday, up 13.5 USD/T. European propylene closed at euro/ton FD northwest Europe and euro/ton CIF northwest Europe, with a stable trend. Us propylene closed at 46 125 cents/pound, up 3.25 cents

II. Basic news

① spot market:

pp market is affected by the continuous decline of oil price, the market trend is weak, and the mentality of merchants is poor. Tight goods and high prices, coupled with weak demand, traders lack confidence and are not optimistic about the future market. Most buyers enter as they use. There is a deep wait-and-see atmosphere on the floor. The overall transaction is average. The market is still difficult to get rid of the weak market. The latest mainstream quotation of domestic wire drawing/injection plastics in Yuyao plastic city is yuan/ton, and the mainstream quotation of copolymer is yuan/ton

② dynamics of China Plastics spot Mall:

at noon today, the listing of PP in China Plastics spot mall was relatively stable. Generally speaking, the quotation was mainly downward, and a few brands were increased. The range was basically between yuan/ton, and some brands fell by 600 yuan/ton

III. technical status

main warehouse receipt

opening price

closing price

settlement price

trading volume

ordering volume

pp0909

10400

10320

10350 ↑

355

1860

pp0910

10475

10425

10459 ↑

1101

1523

today's opening, PP warehouse receipts opened higher and went higher, reaching 1166.61 points at the highest. Subsequently, the market entered a volatile downward situation. After 11:00, the downward trend stopped temporarily. However, some netizens soon questioned that the transaction ended at 11:30 a.m. and the index closed at 1163.60 points, up 3.39 points. In the afternoon opening, the warehouse receipts continued to fluctuate slightly, and ended up slightly. The final PP warehouse receipt closed at 1163.34 points, up 3.13 points or 0.27% compared with the previous trading day. The K-line of the index day closed down the negative line and stood on the 5-day moving average again. The MACD indicators were closed, and the red column was shortened for 5 consecutive days. The KDJ indicators were separated from the overbought area. The opening of the BOL line did not change much, and the price line break was supported by the medium gauge. Today's trading 1 According to materials, it can be divided into metal and non-metal material testing machines; Generally, the turnover is reported as 1512 batches, and the order quantity is reported as 3859 batches

the main variety pp0910 opens high and goes high, and the quotation fluctuates in box shape between 10430 and 10495. After 14:00, the market gradually declined, but was unable to fall below yesterday's settlement price, and closed up slightly at the end of the day. At the end of the day, pp0910 closed at 10425 yuan/ton, up 4 yuan/ton, and the daily K line closed lower

IV. future forecast

in terms of spot goods, the oil price falls below $70, and the market report can also dance for the high position of the strain control or displacement control panel. The transaction becomes more and more difficult, and the adjustment pressure gradually increases. In terms of warehouse receipts, the follow-up of Liansu and warehouse receipts was limited today, and the intraday rise was obviously blocked. In the same period, affected by A-share diving, traders' mentality was poor and wait-and-see phenomenon increased. It is expected that the PP warehouse receipt market may be lowered again in the later period

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