A brief comment on the PP market of China Plastics

2022-09-21
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On January 28, 2010, China Plastics warehouse receipt PP market brief comment

I. fundamental news:

on Wednesday (January 27), oil prices fell $1.04 to $73.67 per barrel. Today, the plastic spot market continues to be weak. 5. The downward trend of oil prices and updating services remains unchanged. Petrochemical pricing sales have frustrated the mentality of businesses, and the offer continues to decline. The warehouse receipt market continued its recent fatigue, and the warehouse receipt index oscillated at a low opening. Until the mid session was basically stable, the market has changed very little since then, maintaining the early decline until the end of the market. At the close of 15:00, the China Plastics warehouse receipt index closed at 986.06 points, down 2.56 points from the previous trading day

II. Technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order volume

pp1003

10700

10600

10596

379

1479

pp1004 I have been to the 50Hz development of plastic machinery industry.Encountered the inevitable test

10730

10780

10752

570

1854

today's opening, PP warehouse receipts opened low in the middle, In the early stage, the market rebounded rapidly and recovered a certain decline. After that, apply a thin layer of molybdenum disulfide grease regularly; Start to move steadily on the horizontal plate and draw a horizontal straight track. At 11:30 a.m., the transaction ended, and the PP warehouse receipt index fell 2.83 points to 1137.34 points. In the afternoon opening, the market continued to advance steadily and ended slightly lower. The final PP warehouse receipt closed at 1137.62 points, down 2.55 points or 0.22% from the previous trading day. The daily K line of the index closed at the short positive line, the 5-day moving average fell rapidly, the MACD index fell on both lines, the green column increased, the KDJ index turned around and fell after crossing, the opening of the BOL line narrowed sharply, and the price line moved down slightly. Today's trading volume was poor, with 1032 batches of trading volume and 3539 batches of ordering volume

the main variety pp1004 opened low and oscillated, and the market continued to consolidate around 10760 yuan/ton. The quotation rose slightly in the afternoon and closed slightly lower in late trading. At the end of the session, pp1004 closed at 10780 yuan/ton, down 13 yuan/ton, and the daily K line closed at the short positive line

III. aftermarket forecast

crude oil fell for days and approached $70/barrel again. The ex factory price of petrochemicals was slightly adjusted. In addition, a shares were difficult to rebound, and the fundamentals of plastic market remained weak. The performance of PP spot market is poor, the mentality of merchants is relatively pessimistic, and the enthusiasm for shipment is high. Downstream demand is still sluggish, with a strong wait-and-see atmosphere. PP warehouse receipts opened low and oscillated, and the market trend was stable in the afternoon, with little change. Today, Liansu and warehouse receipt technology continued to weaken, maintaining the short trend, and the future market is difficult to be optimistic

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