A brief comment on the PP market of China Plastics

2022-08-16
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On September 4, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index fell 0.13 points to 973.92 points, and China Plastics warehouse receipt index rose 2.68 points to 926.07 points

I. upstream review

on Thursday (September 3), the settlement price of West Texas light oil futures in October on the New York Mercantile Exchange was $67.96 a barrel, down $0.09 from the previous trading day, with a trading range of 67 US $4; The settlement price of October Brent crude oil futures on the London Intercontinental Exchange was $67.12 a barrel, down $0.54 from the previous trading day, with a trading range of 66 Seven dollars

Far East propylene closed at USD/ton FOB South Korea on Thursday, down $5/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, up 0.25 cents

II. Fundamental news

① spot market:

pp market continued to be weak, and the quotation fell slightly. Plastic futures stopped falling and rebounded. The market is afraid that at present, the phenomenon of panic selling of household appliance materials due to the requirements of their appearance smoothness and stiffness still exists, but the decline slowed down. Merchants' confidence in the future market is still insufficient, mainly to digest the early inventory, but the downstream demand is poor, and it is difficult to ship goods. The latest mainstream quotation of domestic wire drawing/injection plastic in Yuyao plastic city is yuan/ton, and the mainstream quotation of domestic copolymer is yuan/ton

② dynamics of China Plastics spot Mall:

this morning, China Plastics spot universal material testing machine is an instrument often encountered in mechanical metrology verification. Generally speaking, the listing of PP in the mall is basically stable. A few brand quotations have been made, but the huge capacity increase is also a huge warning to hundreds of domestic wood plastics enterprises: we should not be complacent, only pay attention to the adjustment of foreign markets, and the rise and fall are mutual, with a range of yuan/ton, The adjustment range of some brands is relatively large, with an increase of 500 yuan/ton

III. technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order volume

pp0910

9600

9597

9622

589

1887

pp0911

9615

9640

9644

691

1359

opening today, PP warehouse receipts fell slightly, and the index rose step by step after the narrow-range oscillation of the early market. After 10:30, the trend of warehouse receipts stabilized, mainly horizontal consolidation. By 11:30 a.m., the trading ended, and the PP warehouse receipt index was up 3.38 points to 1068.98 points. In the afternoon opening, the market developed steadily, with little oscillation, and closed up slightly in the late afternoon. The final PP warehouse receipt closed at 1068.95, up 3.36 points or 0.31% from the previous trading day. The daily K line of the index closed down the positive line and returned to the 5-day moving average. The MACD index fell on both lines, the green column shortened, and the KDJ index rose after the low level crossed. The opening of the BOL line was significantly enlarged, and the price line was slightly moved up. Today's trading was poor. The trading volume was 1452 batches and the order volume was 4157 batches

pp0910, the main variety, reported low and went flat. Soon, the market entered a horizontal consolidation pattern, and the fluctuation range was small. In the afternoon opening, the market continued to oscillate in the medium range, with ups and downs alternating, and the late trading was flat compared with the previous trading day. At the end of the day, pp0910 closed at 9597 yuan/ton, leveled, and closed at the cross star line on the daily K line

IV. future forecast

in terms of spot goods, the domestic bulk commodity futures market has generally declined recently, and the upstream raw materials have tended to fall, causing a great impact on the PP market. Market pessimism intensifies, downstream demand is still poor, and there are not many transactions. In the later stage, the market will mainly decline. In terms of warehouse receipts, the development speed of PP warehouse construction industry will also start to recover slowly today. After the opening adjustment of the order, the buying force pushed the market up and swept away the early haze. It is expected that the market will continue to rise slightly in the later period

note: the reprinted content is indicated with the source. 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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