A brief comment on the PP market of China Plastics

On July 15, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index fell 0.59 points to 972.65 points if the added value is high, and China Plastics warehouse receipt index fell 0.60 points to 940.42 points

I. review of the crude oil market

crude oil futures fell to an 8-week low on Tuesday. Expectations of increased fuel inventories and weak demand for consecutive months put heavy pressure on oil prices. The New York Mercantile Exchange broke the monopoly of Japan and South Korea on the resonator shell in August. The settlement price of light and low sulfur crude oil futures for delivery fell 17 cents to $59.52 a barrel, down 0.3%. Brent crude oil futures contract on the London ICE Futures Exchange rose 17 cents, or 0.3%, to $60.86 a barrel

II. Fundamental information improves the transformation of scientific and technological achievements

① spot market:

today, PP market quotation continues to weaken slightly, some petrochemicals reduce prices and settle accounts, and the market supply cost is loose. The downstream demand is poor, and the market trading atmosphere is cold

② dynamics of China Plastics spot Mall:

in the afternoon trading today, the overall price of PP in China Plastics spot mall rose and fell, with the adjustment range mainly between yuan/ton, and some brands rose by more than 1000 yuan/ton

III Technical status

variety

opening price

closing price

settlement price

trading volume

order volume

pp0908

9750

9735

9724

100

1012

pp0909

9760

9740

9729

926

2456

pp0910

9780

9725

9723

150

349

pp0911

9850

9775

9732

13

30

quotation unit

Yuan/ton

batch

today, the PP warehouse receipts of Sinochem opened high and went high. After the early surge and shock fell, the horizontal consolidation was carried out. In the session, the sellers suppressed and accelerated the decline to turn into decline. In the late session, the horizontal shock was flat until the end of the session. The PP warehouse receipts at the end of the session closed at 1088.52 points, down 0.81 points from the previous trading day, up × 10 pieces are 0.07%. The daily K line of PP index closed at the short negative line; The 5-day moving average continued its downward trend, crossing the physical center of gravity; KDJ index is down, subject to oversold areas; The opening of the BOL line goes upward and horizontally, and the late trading entity moves upward in the price line, and the price line inclines downward. Today, the trading atmosphere in the PP warehouse receipt market continued to be depressed, the trading volume was still low, and the order volume was stable and slightly reduced. The cumulative total turnover is 1191 batches; The order quantity is 3860 batches

the main variety pp0909 opened high at 9760 yuan/ton, with a wide range of fluctuations in the front plate, and the pressure of the middle plate seller fell sharply. Then it ran low, and the buyer's support accelerated in the late plate, and the plate turned up. At the end of the plate, it closed up at 9740 yuan/ton. The settlement price of pp0909 was 9729 yuan/ton, down 6 yuan/ton from the previous trading day

IV. aftermarket forecast

international crude oil closed lower for ten consecutive days. Affected by this, the market ended the rise early and began a round of adjustment. Today, Sinopec's listing of price reduction and settlement has buried unstable factors for the future market. The spot market price is loose and the atmosphere is dignified. The analysis predicts that the PP warehouse receipt market of CSPC will continue to decline tomorrow, but the decline will not be too large

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