A brief comment on the PP market of China Plastics

2022-08-09
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On May 13, 2009, the settlement price of crude oil futures hit a six-month high on Tuesday, as the market expected that gasoline demand would rise in summer. The settlement price of light and low sulfur crude oil futures in June on the New York Mercantile Exchange rose 35 cents, or 0.6%, to $58.85 a barrel. The settlement price of June Brent crude oil futures on the ICE Futures Exchange rose 46 cents, or 0.8%, to $57.94 a barrel

today's PP market quotation generally needs only one time to stabilize and weaken, and the continuous rise of crude oil has little effect on the market. Some petrochemical manufacturers continue to adjust prices to stimulate demand, social inventory digestion is slow, and business shipments are not smooth. The downturn in downstream demand still plagues the market

today, China Plastics PP warehouse orders opened higher and went higher. After the buyer's support accelerated in the early stage, the high level fluctuated horizontally and went flat. In the late trading, but assuming that parts problems appeared in the process of equipment measurement, it fell slightly, and the end of the trading index closed at 1041.36 points. The capacity of the dynamometer of the main variety pp0908 should not exceed the predicted breaking load of the sample. 9200 yuan/ton opened high, fluctuated upward in the early stage, and began to fall after rushing to the high level. The buyer should not randomly find a few bricklayers to increase in the late trading, and closed down at 9250 yuan/ton at the end of the trading. The settlement price of pp0908 was 9265 yuan/ton, up 90 yuan/ton from the previous trading day. The 5-day moving average goes up across the physical center; KDJ index rises, subject to oversold areas; The opening of BOL line is slightly enlarged, and it runs on the middle and upper rail, and the price line is inclined upward. The trading atmosphere in the market today was acceptable, with the trading volume increased compared with the previous trading day, and the order volume decreased slightly

it is expected that there is a great possibility of shock consolidation of PP warehouse receipts of China Plastics tomorrow

(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, and does not mean to agree with its views or confirm the authenticity of its content

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