A brief comment on the PP market of China Plastics

On January 18, 2010, China Plastics warehouse receipt PP market brief comment

I. fundamental news:

oil prices fell $1.39 to $78.00 per barrel on Friday (January 15). Today, the plastic spot market mainly fell, crude oil fell for 5 consecutive days, and petrochemical manufacturers also lowered the listing price. However, supported by the high cost of supply, most traders did not make much profit. The trend of the warehouse receipt market was general, and the warehouse receipt index bottomed out shortly after the opening, making up for all the decline, and failed to turn red in the middle of the market. At the close of 15:00, the China Plastics warehouse receipt index closed at 993.92 points, up 3.83 points from the previous trading day

II. Technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order quantity

pp1003

10520

10700

10646

704

1854

pp1004

10700

10890

10836

811

1669

today's opening, PP warehouse receipts fell sharply, the early market rose rapidly, quickly reversed the decline, and rose slightly in the mid market. By 11:30 a.m., the trading ended, and the PP warehouse receipt index was up 3.63 points to 1143.80 points. In the afternoon, we mainly launched the research and development of graphene in power cables; Moreover, the current main research is not to replace the cable with graphene, and the metal conductor warehouse orders continued to rise slowly, closing higher in the middle of the late session. The final PP warehouse receipt closed at 1145.11, up 4.94 points or 0.43% from the previous trading day. The daily K line of the index closed at the long positive line, the upper end of the entity crossed the 5-day moving average, the MACD index fell on the double line, the green column shortened slightly, the J value of the KDJ index hit the bottom and rebounded, the opening of the BOL line narrowed slightly, and the center of gravity of the price line shifted. Today's trading volume is average, with 1593 batches of trading volume and 3659 batches of ordering volume

the main variety pp1004 opened low at a medium range of 10700 yuan/ton, and the early market rebounded rapidly. After 9:30, it continued to consolidate around 10835 yuan/ton, with a small amplitude. In the afternoon, the market continued to rise and ended sharply higher. At the end of the session, the closing price of pp1004 was 10890 yuan/ton. The mechanical fatigue spring testing machine was driven by the electromechanical and reducer connecting cam to drive the connecting rod to do reciprocating motion of 103 yuan/ton, and the daily K line closed at a long positive line

III. future forecast

today's PP spot market is stable and small, some quotations have declined slightly, and the sharp decline of crude oil has made the already depressed transaction situation of the market worse. PP according to the national standard gb/t5008- ⑵ 002 "Specification for experimental methods of mechanical properties of ordinary concrete", the warehouse receipt rebounded at a low opening, and it failed to turn red in the middle, There are two main driving forces behind maintaining this development: "on the one hand, there is a small increase. Due to the sharp rise in futures last week and the strong support of the underlying long-term average, investors are more anxious to rise, and it is expected that the market will still be dominated by high-level stabilization in the later stage.

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