A brief comment on the ABS market of China Plastic

On September 30, China Plastics warehouse receipt ABS market brief review

I. Market Overview:

today, the ABS warehouse receipt opened slightly higher, the front index reversed after a small decline, a small shock higher, a small fluctuation, the intraday index continued to rise with a small shock, the late trend gradually stabilized, extended horizontally to the end, closed slightly higher, and in the end, the ABS warehouse receipt index closed at 1323.29 points, up 0.45 points compared with the previous trading day, and the center of gravity of the bald medium and Long Yang line rose slightly, The 5-day moving average inertia rose, KDJ index continued to operate smoothly in overbought areas, MACD index red column slightly enlarged, and technical indicators showed an upward trend. In terms of the disk situation, today's market trading atmosphere is stable, the transaction is still good, the buyer and the seller are relatively balanced, the majority of operations change hands, the trading volume is slightly reduced, and the order volume is slightly increased compared with the previous trading day

II. Analysis of main varieties:

ab0710 opened slightly lower, the intraday price trend was stable, and the price fluctuation range was narrow. Driven by the buying, the price rose sharply in a straight line at the end of the day, then stabilized, extended horizontally to the end, and closed up sharply. In recent years, the settlement price closed at 15814 yuan/ton, an increase of 16 yuan/ton compared with the previous trading day. The daily K-line chart closed off the bald medium and Long Yang line. The inertia of the 5-day moving average rose and the range increased. The trading volume contracted significantly, and the order volume was basically the same as that of the previous trading day

ab0711 fell slightly, and the price in the front market fell sharply to the low level, then reversed and climbed sharply. The price in the middle market stabilized slightly and fluctuated slightly, and fell slightly after technical adjustment in the late market. The settlement price closed at 15718 yuan/ton, an increase of 1 yuan/ton over the previous trading day, which made the degree of freedom of the collision of gas molecules at the interface greater than the size of the pores. The middle and Long Yang line was closed on the PP K line chart. The inertia of the 5-day moving average rose, but the range slowed down, the trading volume increased slightly, and the order volume decreased slightly compared with the previous trading day

III. comprehensive analysis:

due to the lack of new news, Brent continued to record high before profit taking. WTI and Brent closed at $81.66 and $79.17/barrel, down $1.22 and $0.86/barrel respectively. In terms of spot goods, the market quotation is basically at a standstill, the market atmosphere is light, the trading volume is scarce, the operation enthusiasm of downstream factories is not high, and the market has price but no market. On the whole, affected by the holiday atmosphere in the past two days, the overall atmosphere of the market is relatively flat. If there is no new good news after the holiday, it is expected that the flat situation of China plastics ABS warehouse receipts may continue

(personal view, for reference only; based on this, enter the market 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 when the export volume is depressed, and does not mean to agree with its view or confirm the authenticity of its content