A brief comment on the PP market of China Plastics

2022-08-20
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On December 21, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

the confusing oil market is a stranger to China Plastics PP warehouse receipt market. The fall of oil price on Thursday has not been associated with the trend of PP warehouse receipt. Today, PP warehouse receipt opened low and went high, buyer market confidence has been enhanced, the front price is strong and rising, the support is strong, the strength of both sides in the middle and rear price is balanced, the index began to stabilize, and closed up slightly. The China Plastics PP warehouse receipt index closed at 1273.15, up 0.42 points from the previous trading day. Technically, the daily K-line closed at short Yang, and the physical center of gravity moved slightly upward, with the 5-day and 10-day moving average finishing above the physical center of gravity; KDJ index shows an upward trend, but is subject to oversold areas; The opening of the Bollinger line is enlarged, and the price line is wandering off the track, and the price line is inclined upward. Today's trading atmosphere was general, and the intraday buying volume was relatively large. Many sellers closed their positions and new air forces entered, while many buyers took advantage of the situation to build positions and reduce the order volume

II. Analysis of main varieties:

today, pp0801 opened low and went high at 11800 yuan/ton. In the early stage, the buyer had a rise. The disk price has always hovered around yesterday's average price, and is basically in a stable state. The disk finally closed up slightly at 11897 yuan/ton. The settlement price was 11892 yuan/ton, down 4 yuan/ton from the previous trading day. The daily K-line closed at the short positive line, and the center of gravity entity rose slightly; KDJ index has an upward trend, but it is still subject to oversold areas. Today's trading atmosphere was general, the trading volume decreased, and the order volume remained stable

opening pp0803 opened low at 12035 yuan/ton, reaching today's low of 11951 yuan/ton. However, for crystalline polymers, the buyer after receiving the ton pushed it up sharply to the middle market, and the middle and rear market fell back narrowly, once turning into a downward trend, but in the late market, the buyer fully supported it, and closed up again at 11991 yuan/ton. The settlement price of pp0803 was 11995 yuan/ton, up 9 yuan/ton from the previous trading day. The daily K-line closed at short Yang, and the center of gravity entity moved slightly upward. The average line on the 5th and 10th continued. Haixi, Qinghai has become an important production base for lithium extraction from salt lakes in China, finishing above the center of gravity of the entity; KDJ index has moved up, subject to oversold areas. Today's trading atmosphere was acceptable, the trading volume decreased slightly, and the order volume remained stable

III. comprehensive comments:

crude oil futures closed slightly lower on Thursday, with intraday trends oscillating and transactions depressed, affected by traders' closing positions at the end of the year. The settlement price of WTI February crude oil futures contract fell $0.18 to $91.06 a barrel; February Brent crude oil futures contract fell $0.60 to close at $90.88 a barrel. The PP market performance of Yuyao plastic city was poor, and the market fell slightly. At present, the market is affected by weak demand, and transactions are still not much improved. Most traders operate cautiously. Although the supply of goods in hand is low, they are also unwilling to stock too much; However, the operating rate of downstream factories is generally insufficient and the consumption is slow. They continue to purchase on demand, use now and buy now, and the overall receiving volume is limited. Pay more attention to the latest mainstream quotation of domestic materials for wire drawing/injection molding. The mainstream quotation of domestic materials for copolymerization is yuan/ton, that of imported materials for copolymerization is yuan/ton, and that of monofilament powder is 11900 yuan/ton

it is expected that the recent trend of China Plastics PP warehouse receipt market is still dominated by shocks

(personal view, for reference only; based on this, enter the market at your own risk)

source of information: China plastics trading

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