A brief comment on the ABS market of China Plastic

2022-08-14
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On February 29, China Plastics warehouse receipt ABS market brief comment

I. Market Overview:

oil prices rose sharply on Thursday. Today, the three trading varieties in China plastics ABS warehouse receipt market closed down as a whole, with a general decline. In terms of transaction details, the trading atmosphere on today's partial falling off or deformation day is still dull, although the volume of dual volume has increased, but the range is not large. The ABS index closed at 1266.66 today, down 2.48 points from yesterday. Technically, there is a short negative line on the daily K-line chart, the physical center of gravity fell slightly, and the trend of the 5-day moving average turned up to down; KDJ index shows three line divergence and decline; The opening of the Bollinger line shrinks slightly; The experimental data are also more accurate. MACD index shows that the red column is significantly shortened

II. Analysis of main varieties:

today, ab0804 opened slightly lower at 15220 yuan/ton. Today's trend is basically volatile decline, with a slight rebound in the middle market. The closing price is 15180 yuan/ton, down 50 yuan/ton from yesterday's settlement. Today, when the reinforcing sheet at the end of the sample was not firmly pasted, the calculated price was 15200 yuan/ton, down 30 yuan/ton from yesterday. In terms of technology, the Japanese K line receives a middle Yin line; The center of gravity of the entity fell slightly; KDJ indicator shows that the third line continues to diverge downward

III. comprehensive comments:

WTI futures closed at $102.59 per barrel in New York commodity futures trading, up $2.95 from the previous trading day. Styrene FOB Korea closed 1403 $25, up $2.50; CFR China closed down $3 on the dollar. The decline of crude oil and pure benzene market did not affect the styrene market

the mainstream offer in the ABS spot market remains stable, and the mentality of merchants is general, mainly focusing on shipping as soon as possible and cashing in profits. The ABS market in Yuyao plastic city is generally stable, with individual rises and falls obvious. Due to the slow start of terminal demand, buyers are not enthusiastic about purchasing. The latest mainstream quotation is yuan/ton for domestic ABS and yuan/ton for imported ABS

today is the last trading day of this week. It is expected that the short-term market should not exceed 1% up and down, and it will still be dominated by narrow range fluctuations under the drag of no effective volume demand

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