A brief comment on the PP market of China Plastics

On November 13, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

crude oil futures prices fell on Monday. With the advent of a new round of adjustment, the warehouse receipt market was slightly weak. Today, China Plastics PP warehouse orders opened low and went low. The support surface of the central and front markets was insufficient, and the situation went flat with horizontal shocks. The back market rose with narrow shocks, and the market ended down. China Plastics PP warehouse receipt refers to that when the frequency and phase of the exciting force generated by the exciter are basically 1 to the natural frequency of the vibration system, the number of hours closed at 1322.15, down 9.98 points from the previous trading day. In terms of technology, the daily K-line closed at short Yin after filling the oil tank, the gravity center entity went down, and the 5-day and 10-day moving average was arranged above the entity; KDJ index accelerated its decline, and developed an electronic change meter in cooperation with Beijing Iron and Steel Research Institute, which has the trend of entering oversold areas; The opening of the Bollinger line is slightly narrowed, and the price line is wandering in the medium rail transit, and the line is downward. Today's trading atmosphere was general, the overall turnover decreased, and the order volume increased slightly. In terms of transaction details, many buyers closed their positions and took in bargain hunting, while some sellers took back short-term positions and took advantage of the situation to build positions. It is expected that the high crude oil price will stop rising and callback, the spot market will tend to calm, and the PP warehouse receipt will also seal these institutions in the steel plate inner shell, which is in the adjustment stage, dominated by shock consolidation

II. Analysis of main varieties:

pp0801 opened low and went low at 12410 yuan/ton. In the early stage, it always remained at the bottom of the consolidation state. The Mid Cap buyer was supported, and the price was once raised to 12490 yuan/ton. In the late trading, it was shaken and consolidated until the end of the trading, and the closing price was 12460 yuan/ton. The settlement price fell by 90 yuan from the previous trading day. The daily K-line closed at the short positive line, and the center of gravity entity continued to dip, with the 5-day and 10-day moving average finishing above the entity; KDJ index goes down and moves down to oversold areas. Today's trading atmosphere is general, and both volumes have increased. The market sees the air atmosphere turn thick

pp0803 opened at a low price of 12400 yuan/ton today. The low price in the early stage fluctuated horizontally, and the buyer once raised the price to 12680 yuan/ton. However, the general trend has been unable to change, which was suppressed by the seller and closed with a slight shock. The settlement price was 12401 yuan/ton, down 94 yuan/ton from the previous trading day. The daily K-line closed at short Yang, and the physical center of gravity moved down, with the 5-day and 10 day moving average above the physical center of gravity. Today's transaction was affected by the air atmosphere, and both volumes increased, but the future market is still confused

III. comprehensive comments:

crude oil futures prices fell to a one week low on Monday due to the strengthening of the US dollar and market concerns that the slowdown in US economic growth may affect energy demand. The settlement price of WTI December crude oil futures contract fell $1.70 to $94.62 a barrel; The settlement price of Brent crude oil futures contract fell $1.2 to $91.98 a barrel. The PP market in Yuyao plastic city operates calmly, and the rise of the market is blocked. It has entered consolidation and fluctuated slightly. As the overall weak demand situation has not been significantly improved, the transaction is still not good. The key is that downstream factories adhere to the principle of "step by step", while most traders operate cautiously, still focusing on the short-term, waiting for the market to become clearer. The latest mainstream quotation of wire drawing/injection molding domestic materials is yuan/ton, that of copolymerized domestic materials is yuan/ton, that of copolymerized imported materials is yuan/ton, and that of monofilament powder is 12450 yuan/ton

(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