A brief comment on the PP market of China Plastics

2022-08-24
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On August 27th, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index fell 1.85 points to 1000.9 points, and China Plastics warehouse receipt index fell 3.10 points to 96, currently 5.54 points

I. upstream review

on Wednesday (August 26), the settlement price of West Texas light oil futures in October on the New York Mercantile Exchange was $71.43 a barrel, down $0.62 from the previous trading day, with a trading range of 70 $64; The settlement price of October Brent crude oil futures on the London Intercontinental Exchange was $71.65 a barrel, down $0.17 from the previous trading day, with a trading range of 70 48 dollars

Wednesday and the error decreases with the increase of load; The installation of the second dynamometer is not level. If the installation of the dynamometer is not level before and after, far east propylene closed at US dollars/ton FOB South Korea, down 5 dollars/ton. European propylene closed at euro/ton FD northwest Europe and euro/ton CIF northwest Europe, with a stable trend. Us propylene closed at 52 63 cents/pound, stable trend

II. Fundamental news

① spot market:

pp market performance is not ideal, and some quotations continue to decline. The mentality of merchants is slightly pessimistic, and the intention to dump goods is enhanced, but the downstream demand intention is weak. Many people dare not operate rashly to avoid risks, and continue to take a wait-and-see attitude while moving goods. Petrochemical pricing support at the end of the month, the market price decline will not be too large, and businesses are in a state of no profit or slight loss. The latest mainstream quotation of domestic wire drawing/plastic injection in Yuyao plastic city is yuan/ton

② dynamics of China Plastics spot Mall:

in this morning, the listing of PP in China Plastics spot mall is basically stable. The quotations of a few brands have been adjusted, with ups and downs, mainly between yuan/ton. The quotations of individual brands have been adjusted significantly, with an increase of 900 yuan/ton

III. technical situation

main warehouse receipt

refrigeration working principle of high and low temperature impact testing machine of Jinan experimental machine factory: opening price

closing price

settlement price

trading volume

order quantity

pp0909

9900

9850

9864

347

1185

0910

10060

10022

10044

847

1716

today's opening, PP warehouse receipts opened low, and the early market fluctuated downward, And bottomed out at 1113.62. After that, the warehouse receipt rose in broken steps, and after 10:30, it turned to horizontal shock extension. At 11:30 a.m., the transaction ended, and the PP warehouse receipt index fell 3.17 points to 1115.31 points. In the afternoon opening, the market continued its early trend, fluctuated slightly to the end of the session, and closed down slightly in the late session. The final PP warehouse receipt closed at 1114.93 points, down 3.55 points or 0.32% from the previous trading day. The K-line of the index closed lower than the negative line, and the physical center of gravity was close to yesterday. The MACD index continued to decline on both lines, the green column was slightly shortened, the KDJ index was low and passivated, the opening of the BOL line was stable, and the price line shifted horizontally. Today's trading was poor, with trading volume of 1395 batches and order volume of 3368 batches

pp0910, the main variety, reported low and went low. The market was consolidated in a medium range, and the upward/downward movements occurred mutually, but the overall trend was below yesterday's settlement price, and closed down slightly in the late trading. At the end of the session, pp0910 closed at 10022 yuan/ton, down 55 yuan/ton, and the daily K-line closed lower

IV. future forecast

in terms of spot goods, the PP market performed poorly, some quotations continued to decline, and merchants' willingness to dump goods increased. In terms of warehouse receipts, traders' thinking is still biased towards short positions. In the short term, they will test the supporting role of the 40 day moving average respectively, and it is difficult to rebound. It is expected that the weak consolidation of PP warehouse receipts in the later period will be dominated

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