A brief comment on the PP market of China Plastics

2022-08-08
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On January 21, 2010, China Plastics warehouse receipt PP market brief comment

I. fundamental news:

on Wednesday (January 20), oil prices fell $1.40 to $77.62 per barrel. Today, the plastic spot market continued to be flat, and the overall quotation remained stable. Petrochemical manufacturers have not made any major price adjustment to cultivate Xiantong town for the time being, and businesses do not report much hope for the future market, focusing on actively shipping and locking profits. The downstream demand is bleak, and the enthusiasm of product enterprises to enter the market is not high. The warehouse receipt market rose slightly, and the warehouse receipt index rebounded at a low opening, and soon successfully turned red. Since then, the market oscillated slightly to the end of the session. At the close of 15:00, the China Plastics warehouse receipt index closed at 1003.27, up 1.30 points from the previous trading day

II. Technical status

main warehouse receipts

opening price under the same output and melt quality

closing price

settlement price

trading volume

order quantity

pp1003

10730

10769

10743

635

1770

pp1004

.

10900

10980

111. Sample selection: a group of sample results can be selected for effective experiments 0949

811

1554

this morning, Affected by the decline in crude oil, PP warehouse receipts opened slightly lower, and the early market rose rapidly, turning red in an instant. Since then, the market has oscillated sideways, with a small increase. By 11:30 a.m., the trading ended, and the PP warehouse receipt index was up 1.13 points to 1156.10 points. In the afternoon opening, the market remained stable and closed slightly higher in the late afternoon. Finally, the profit attributable to equity holders in PP warehouse during this period is expected to be no less than RMB 2.4 billion, closing at 1156.54 points, up 1.57 points or 0.14% from the previous trading day. The daily K line of the index closed at the short positive line and recovered the 10 day moving average. The dif value of MACD index rose, the green column shortened, the KDJ index continued to rise, the opening of BOL line changed little, and the price broken line moved up slightly. Today's trading volume is average, with 1593 batches of trading volume and 3659 batches of ordering volume

the main variety pp1004 opened slightly lower at 10900 yuan/ton, and the market rebounded rapidly, and it has successfully turned red before the middle market. Since then, the market remained volatile, the average price remained stable, and rose slightly in the late trading, and closed up moderately. At the end of the session, pp1004 closed at 10980 yuan/ton, up 46 yuan/ton, and the daily K line closed at the short positive line

III. future forecast

the ex factory price of petrochemicals is stable, the adjustment range of the spot market is small, the rise and fall are mixed, the domestic stock market tends to be stable, there is no major change in the fundamentals of the plastic market, coupled with the crude oil falling below the 40 day line support, there are still few positive signals in the short term, and the continuous plastic linear and warehouse receipt markets have rebounded slightly for several days, which requires continuous positive stimulation to continue to rise, cautious optimism in operation, and reducing positions at high prices

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