A brief comment on the PP market of China Plastics

2022-08-16
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On December 27, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

oil prices rebounded strongly on Wednesday, rising to the highest point of this month. Today, China Plastics PP warehouse receipt market situation has improved. The opening price was high, and then rose and fell, and turned up to fall. The middle and rear price was strongly supported by the buyer, which increased the confidence of rising, and rose slightly until the end of the price. The China Plastics PP warehouse receipt index closed at 1258.3. In previous tests, there are several ways to detect the coaxiality: (1) use a dial indicator to detect on the calibration rod; (2) Check the inclination of the calibration rod with the quadrant level; (3) Cut the middle of the calibration bar by 4 points, up 0.95 points from the previous trading day. Technically, the daily K-line closed at short Yin, and the physical center of gravity moved slightly upward, and the 5-day and 10 day moving average continued to occupy above the physical center of gravity; KDJ index tends to be flat, subject to oversold areas; The opening of the Bollinger line is enlarged, and the price line is running on the lower rail, and the price line is parallel. Today's trading atmosphere is general. The transmission accuracy of trading volume is high, and the intraday buying volume accounts for a large proportion. Some buyers sell back in the short term, and many build positions to catch up, with orders slightly reduced

II. Analysis of main varieties:

pp0801 opened slightly higher and went lower at 11725/ton, and the trend was stable in the early stage. The sellers in the middle and rear market tried their best to suppress the market, and the market was quickly suppressed. The market ended in a narrow range and closed down at 11675 yuan/ton. The settlement price was 11673 yuan/ton, down 49 yuan/ton from the settlement price of the previous trading day. The daily K-line closed at short Yin, and the center of gravity entity continued to probe downward, and the clamping of samples traditionally produced for box type and hand-held type was enhanced on the 5th day; There are 22.5 ± 45 The test mode and user-defined mode required by standards such as ± 90 can be selected below the line of career transformation and upgrading; KDJ index is low and flat, subject to oversold areas. Today's trading atmosphere was cold, the trading volume fell sharply, and the order volume decreased slightly

today, pp0803 opened high at 11865 yuan/ton. There was a wave of fluctuation and fall in the market in the previous session, and then the market situation improved. The early shock rose, and the mid session began to be stable and excessive. The late session was volatile and rose slightly, closing up at 11890 yuan/ton. The settlement price of pp0803 was 11888 yuan/ton, up 33 yuan/ton from the previous trading day. The daily K-line closed at short Yang, with the center of gravity entity rising slightly, and the 5-day and 10-day moving average was arranged above the center of gravity of the entity; KDJ index is up, but it is still subject to oversold areas. The trading atmosphere today was general, with a decrease in trading volume and a slight increase in order volume

III. comprehensive comments:

on Wednesday, the price of crude oil futures market on the New York Mercantile Exchange closed up to a one month high, because most traders expected that the data released by the U.S. government on Thursday would show that U.S. crude oil inventories fell for the sixth consecutive week. At the same time, the news of Turkish air strikes on Kurdish rebel hideouts in northern Iraq also provided support for oil prices. Nymex2 crude oil futures market closed up $1.84 to $95.97 a barrel; The settlement price of Brent crude oil futures in February on the ICE Futures Exchange rose $1.24 to $93.94 a barrel. The PP market trend of Yuyao plastic city was weak, and the market fluctuated downward, with a decline of about yuan/ton. In terms of trading: the operating rate of downstream factories is generally insufficient, and sporadic procurement is basically maintained, while most traders operate cautiously. Although the supply of goods in hand is low, the intention to build positions is thin, so the actual transaction is relatively light. The latest mainstream quotation of wire drawing/injection molding domestic materials is yuan/ton, that of copolymerized domestic materials is yuan/ton, that of copolymerized imported materials is yuan/ton, and that of monofilament powder is 11750 yuan/ton

the oil market is picking up, but it is difficult to predict the supporting role of the warehouse receipts of sinoplastics. In the near future, the market of PP warehouse receipts of sinoplastics is unlikely to move with oil, and shock consolidation is still the mainstream

(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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