A brief comment on the PP market of China Plastics

2022-08-21
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On July 1, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index rose 0.40 points to 953.21 points in reducing approval, tightening time and improving market access effectiveness, and China Plastics warehouse receipt index rose 0.62 points to 916.60 points

I. crude oil market review

on Tuesday, crude oil futures on the New York Mercantile Exchange (NYMEX) closed down after rising to an eight month high the night before yesterday, as investors' expectations of a rapid economic recovery were weakened under the influence of the rebound in the dollar and the decline in U.S. consumer confidence data. NYMEX August light sweet crude oil futures contract settlement price fell $1.60 to $69.89 a barrel, down 2.2%. The settlement price of Brent crude oil futures contract in August on the ICE Futures Exchange fell $1.69, or 2.4%, to $69.30 a barrel

II. Fundamental information

① spot market:

today's PP market quotation rose slightly, and petrochemical cost support and high crude oil prices supported market confidence. Some businesses responded that the transaction had improved, but it was difficult to conclude a deal at a high price. The enthusiasm of the market for shipping is OK, and most businesses have no image of hoarding goods for the time being. Downstream manufacturers mainly take what they use, and the overall demand is weak

② dynamics of China Plastics spot Mall:

in the afternoon trading today, the overall price of China Plastics spot Mall () PP rose and fell, with an adjustment range of yuan/ton

III. technical status

variety

opening price

closing price

settlement price

trading volume

order volume

pp0907

9440

9440

9440

1<3 Spindle speed: 40 r/min-200 r/min (stepless adjustable)/p>

220

pp0908

6400

9444

9425

316

3349

pp0909

6450

9550

9490

649

2169

pp0910

9470

9520

9486

57

125

quotation unit

yuan/ton

batch

data source: China Plastics information ()

today, China Plastics PP warehouse receipts opened low and went low, In the early stage, it fell sharply to the bottom, and then the buyer's support accelerated upward. After the initial shock rose, it turned down to rise in the late trading, and then continued to rise to the end of the trading. At the end of the trading, PP warehouse receipts closed at 1060.34 points, up 0.89 points or 0.08% compared with the previous trading day. The daily K line of PP index closed at the short positive line; The 5-day moving average continued to rise, still finishing below the physical center of gravity; KDJ index rises, subject to oversold areas,; The opening of BOL line is slightly enlarged, and the cost of PC transparent cover front lamp on the upper rail is not competitive with that of glass cover front lamp in the price line, and the price line is inclined upward. Today, the trading atmosphere in the PP warehouse receipt market fell, low-level transactions accounted for a large proportion, and the order volume continued to stabilize. The cumulative total turnover is 1032 batches; The order quantity is 5905 batches

pp0909, the main variety of oil return pipe, had no oil outflow, opened low at 9450 yuan/ton, rose after the initial shock, and then consolidated near the moving average. The buyers in the middle and rear markets supported the shock upward, accelerated the rally in the late market, and closed up at 9550 yuan/ton at the end of the market. The settlement price of pp0909 was 9490 yuan/ton, up 9 yuan/ton from the previous trading day

IV. future forecast

the international crude oil futures price fell again today. The spot market appeared to be stabilizing, with instability implied in the stability. The future trend was not clear. The analysis predicted that the PP warehouse receipt market of sinoplastics would continue to vibrate and consolidate tomorrow

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