A brief comment on the PP market of China Plastics

2022-08-16
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On October 12, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

the continuous sharp rise of futures oil did not form a positive boost to the PP warehouse receipt market. Today, PP continues to adjust in a narrow range, the market is looking for the future trend, and traders are confused. PP warehouse receipt index closed at the short negative line, the entity was narrow, and the fluctuation range of disk price was extremely limited. The short negative entity was stable and slightly downward. PP warehouse receipt index closed at 1275.57, down 0.75 points from the closing of the previous trading day. From the specific trend, PP warehouse orders opened mixed, the disk trend slowly fluctuated and fell, the overall decline was difficult to deepen, and the whole line closed slightly lower in the late trading. In terms of transaction details, the strength of the buyer and the seller is relatively balanced, both sides have many opening and closing positions, the trading is stable, the trading volume is significantly higher than yesterday, and the order volume is slightly lower. Technically, the opening of the brin line continues to remain narrow, and the price line runs between the middle rail and the lower limit; The KDJ index went down in a narrow range after dead crossing

II. Analysis of main varieties:

pp0712 opened slightly lower, the disk price slowly fluctuated downward, the decline was not large, and the weak pattern has not changed. In late afternoon trading, it closed down 23 yuan. Here is a brief introduction. The settlement price is 11882 yuan/ton, down 11 yuan/ton from the previous trading day. The daily K-line closed at the short negative line, and the entity fell slightly, which was suppressed by the 5-day moving average. The trading atmosphere was acceptable, the trading volume increased significantly, and the order volume decreased slightly

pp0801 opened slightly higher, the price adjusted narrowly in the early stage, and the trend was deadlocked. In the middle and late stage, the price fluctuated and fell under the pressure of the seller, and closed down by 12 yuan in the late afternoon. The settlement price closed at 11892 yuan/ton, unchanged from yesterday. The daily K line closes at the short negative line, and the horizontal extension of the entity is located below the moving average system, so it is difficult to break through the adjustment situation. The trading atmosphere was active, the transaction volume was significantly higher than yesterday, and the order volume was stable and slightly reduced

III. comprehensive comments:

crude oil futures closed at the second highest level in history on Thursday. Due to the unexpected decline in U.S. crude oil inventories, crude oil supply is gradually tight. WTI and Brent closed at $83.08 and $80.15, up $1.78 and $1.55 respectively. The High Tech Department of the Ministry of science and technology organized experts in Beijing to accept the theme project of "new special functional key materials" supported by the new material technology field of the 863 plan. In terms of PP spot goods, the ex factory price of domestic petrochemical industry was generally stable, extremely 2 When measuring the coaxiality of the force with the coaxiality automatic measuring instrument (or other measuring device with corresponding accuracy), clamp the test sample on the collet, install an electronic extensometer in the symmetrical direction of the sample respectively, add it to 1% of the maximum experimental force, adjust it to zero, and then apply the experimental force to 4% of the maximum experimental force. Measure the elastic deformation of the opposite sides of the test sample, and measure it three times in the direction perpendicular to each other, and the individual price rises by 50 yuan/ton. The market atmosphere around the country was flat, the market was consolidated in a narrow range, the downstream demand was not significantly improved, and the purchase with use was basically maintained. Most traders maintained low position operation, with a heavy wait-and-see mentality, and the transaction was still not improved. From the perspective of comprehensive utilization of hp-rtm process, the PP market is not optimistic

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

source of information: China plastics trading

note: the source of this reprint is indicated. 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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