A brief comment on the PP market of China Plastics

2022-08-07
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A brief comment on the PP market of sinoplastics warehouse receipt on January 30

I. Market Overview: it can only be designed according to the enterprise's material standards

today, the overall performance of sinoplastics PP warehouse receipt is average. Although there is a slight rise, the downturn momentum is not reduced. The opening price was high and the opening price was high. In the early stage, the price rose and fell, and then rose again. In the middle and rear price, the price fluctuated and fell in a narrow range. The buyer's support was limited, and the confidence was slightly insufficient. The China Plastics PP warehouse receipt index closed at 1239.93, up 1.19 points from the previous trading day. Technically, the daily K-line closed at short Yang, but it was necessary for this complex product. The entity rose slightly, and the 5-day and 10-day moving average was sorted above the entity's center of gravity; KDJ index is slightly downward, subject to oversold areas; The opening of the Bollinger line continues to be enlarged, and the price line is moving off the track, and the price line is slightly upward. Today's trading atmosphere was fair, the transaction was average, the intraday trading was relatively balanced, most of the operations changed hands, some buyers returned in the short term and new forces entered, while many sellers built their positions at high prices, and the transaction and order volume continued to decrease

II. Analysis of main varieties:

pp0803 opened low and went high at 11623 yuan/ton. It performed well in the early stage. In the middle stage, the market began to fall back, fluctuated downward, and ended up with a small decline of 11615 yuan/ton. The settlement price of pp0803 today was 11625 yuan/ton, down 4 yuan/ton from the settlement price of the previous trading day. The daily K-line closed at the short negative line, and the center of gravity entity rose slightly, and the 5-day and 10-day moving average were arranged above the center of gravity of the entity; KDJ index rose slightly, subject to oversold areas. The trading atmosphere was cold today, the transaction fell sharply, and the order volume continued to decrease slightly

pp0804 opened low at 11830 yuan/ton, and then fluctuated sharply in the early stage. It rose to 11845 yuan/ton in the front market, and then fell back. After the middle and rear market fell again, the buyer supported the rise, and the market ended up at 11820 yuan/ton. The settlement price of pp0804 was 11827 yuan/ton, up 16 yuan/ton compared with the previous trading day. The service life of the K-day product became shorter and closed at short Yin, the center of gravity entity rose slightly, and the 5-day moving average was arranged above the center of gravity of the entity; KDJ index rose slightly, subject to oversold areas. Today's trading atmosphere was good, and the two volumes basically maintained balance

III. comprehensive comments:

crude oil futures rose slightly on Tuesday, hitting a two-week high. Traders are ready to meet the decision of the US Federal Reserve to cut interest rates by 50 basis points. The market believes that the Fed's interest rate cut will have a positive impact on energy demand. On the New York Mercantile Exchange, the light sweet crude oil futures contract for March delivery rose 65 cents to settle at $91.64 a barrel, or 0.7%. The settlement price reached the highest level in recent months since January 15. On the ice futures exchange, Brent crude oil futures contract rose 69 cents to settle at US $92.07 a barrel. The PP market atmosphere in Yuyao plastic city is flat, the quotation changes little, and it is basically stable. With the approaching of the Spring Festival, the purchasing intention of downstream factories is gradually weakening. Some small and medium-sized factories have been shut down for holidays, and a small amount of goods have been prepared for large factories. Therefore, the overall transaction in the market is relatively light at present. The latest mainstream quotation for domestic wire drawing/injection plastics is RMB/ton, the mainstream quotation for domestic copolymers is RMB/ton, the mainstream quotation for imported copolymers is RMB/ton, and the mainstream quotation for monofilament powder is RMB 11600/ton

it is expected that the jaw of the sample held by the PP warehouse of China Plastics Co., Ltd. is easy to wear, and the pattern of shock finishing will be maintained before the single market Festival

(personal view, for reference only; enter the market accordingly, at your own risk)

source of information: China plastics trading

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

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