A brief comment on the PP market of China Plastics

2022-08-18
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On December 19, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

crude oil prices have fallen repeatedly, and China Plastics PP warehouse receipt is not ideal due to the restrictions of the market bad atmosphere. Today, the PP warehouse receipt opened sharply higher in the early stage, but the seller tried to suppress it today, and the sharp rise in the early stage was immediately reversed, and the subsequent trend has always been in a negative decline. The China Plastics PP warehouse receipt index closed at 1275.18, down 11.38 points from the previous trading day. Technically, the daily K-line closed at the Long Yin line, the physical center of gravity fell, and the 5-day and 10 day moving average crossed the physical center of gravity; KDJ index fell, subject to oversold areas; The opening of the brin line is enlarged, and the price line is wandering in the middle and lower rail, and the price line is sharply downward. Today's trading atmosphere was acceptable, and intraday trading was relatively balanced. Some sellers made short-term returns and new air forces entered, while some buyers took in bargain hunting, resulting in a large increase in trading volume and a small reduction in orders

II. Analysis of main varieties:

today, pp0801 opened high and went low at 12200/ton, and the seller still had a great advantage. The early rise was suppressed and annihilated, and the middle and rear markets fluctuated in the low range, ending with a decline of 11880 yuan/ton. The settlement price was 11937 yuan/ton, down 80 yuan/ton from the previous trading day. The daily K line closes at the Long Yin line, and the center of gravity entity moves down; KDJ index fell sharply, subject to oversold areas. The trading atmosphere was cold today, with a sharp decrease in trading volume and a slight decrease in order volume

pp0803 opened low at 12112 yuan/ton, the price of the front plate fell sharply, and the middle and rear plates tended to be stable, but there was no pulling force any more. It moved horizontally in a narrow range and ended at 11983 yuan/ton. The settlement price of pp0803 was 11998 yuan/ton, down 131 yuan/ton from the previous trading day. The daily K-line closed at the long negative line, and the center of gravity entity went down, and the 5-day and 10-day moving average continued to sort out above the entity center of gravity; KDJ index is down, subject to oversold areas. The trading atmosphere was good today, with a substantial increase in transactions and a slight decrease in order volume

III. comprehensive comments:

crude oil futures fell slightly on Tuesday, closing at a one week low, affected by the withdrawal of Turkish troops from northern Iraq and the continued concerns of market participants about the U.S. economy. The settlement price of WTI January crude oil futures contract fell by US $0.14 to US $90.49 per barrel; The settlement price of Brent crude oil futures contract in February fell by 1.1 US $1.7 between the central government and the government of the Hong Kong Special Administrative Region and people from all walks of life to US $90.12 a barrel. The PP market in Yuyao plastic city was light, and the price fell sharply. Due to the lack of hot spots, the enthusiasm of downstream enterprises to enter the market is generally low. At present, China's import and export trade deficit of blow molding machines has fallen sharply year-on-year; The overseas injection molding machine market is gradually developing strong and high, with limited receiving, and basically maintains the mentality of "buy and use" since the emergence of the logistics and transportation industry from human society. Facing the current stalemate of flat market transactions and basically stable market, most traders are also more cautious in operation, basically focusing on shipping, and their intention to build positions is weak. 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 11900 yuan/ton

it is expected that the PP warehouse receipt market of China plastics is still dominated by shocks and may rise slightly 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. The exfoliated material shows many graphene like characteristics, which does not mean that you agree with its view or confirm the authenticity of its content

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