A brief comment on the PP market of China Plastics

On June 3, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index rose 3.42 points to 933.98 points, and China Plastics warehouse receipt index rose 2.32 points to 902.54 points

I. review of crude oil market

the price of crude oil futures market closed almost flat on Tuesday. Although the expectation of economic recovery later this year once prompted the rise of oil prices, the current weak demand situation has curbed the rising momentum of oil prices. The settlement price of light sweet crude oil futures contract in July on the New York Mercantile Exchange (NYMEX) fell 3 cents to $68.55 a barrel, ending the previous six consecutive trading days of gains. The settlement price of Brent crude oil futures contract in July on ICE Futures Exchange rose 20 cents to 68.17 a barrel. At the same time, when installing, we must pay attention to the installation of locking devices. The dollar rose 0.3%. The price of crude oil futures is approaching the important psychological level of $70. Previously, many analysts believed that oil prices could rise to this level only when the U.S. economy began to get out of recession, and at least by the end of the year. Saudi Arabia's oil minister predicted last week that oil prices would rise to $75 this year

II. Fundamental information

① spot market:

today, the quotation of PP spot market tends to be stable as a whole, and the good news of petrochemical rising has been digested by the market. Today, the quotation of merchants was stable and slightly higher, but the transaction turned weak. The market presents a stable consolidation situation, the merchants' purchase intention is not strong, and the wait-and-see mentality is strong

② dynamics of China Plastics spot Mall:

the price of China Plastics spot Mall () PP basically showed an upward trend at noon today, rising by yuan/ton, and a few two brands fell by yuan/ton

III Technical status

variety

opening price

closing price

settlement price

trading volume

order volume

pp0906

9339

9350

9277 ↑

32

255

pp0907

9270

9310

9296 ↑

132

424

pp0908

9287

9360

9312 ↑

1400

4158

pp0909

9220

9370

9324 ↑

379

845

quotation Unit

yuan/ton

batch

data source: China Plastics information ()

today's opening PP warehouse receipts opened low and continued to decline in the early stage. After that, the buyer supported a strong rebound, which turned into an upward trend in the previous session, and the upward trend in the mid session continued. The late session was concussive and consolidated. At the end of the session, the PP warehouse receipts closed at 831.78 points, up 2.91 points or 0.28% from the previous trading day. The K-line of the index closed at the short positive line; The 5-day moving average continued to rise, and was sorted under the focus entity; KDJ index rose slightly and continued to be subject to oversold areas; The opening of the BOL line continues to enlarge, and the late trading entity moves up the track in the price line, and the price line inclines upward. Today, the trading atmosphere in PP market is good, with the trading volume of 1957 batches, up sharply from the previous trading day. The order volume can also take the form of Excel and print statements; 5701 batches, an increase of 281 batches over the previous trading day

in January this year, pp0908, the main product, opened low and went low, continued to vibrate downward, gradually and slowly applied load like the tail end of the hammer handle, and then the buyer supported to accelerate the upward trend, which turned into an upward trend in the mid session, continued to rise to a high level in the mid session, and continued to rise after a sharp fall in the late session, until the end of the session closed at 9360 yuan/ton. The settlement price was 9312 yuan/ton, up 25 yuan/ton from the previous trading day

IV. future forecast

although petrochemicals sharply increased its ex factory quotation today, the small drop in crude oil today indicates that it is unlikely that crude oil will continue to rise, and the receiving strength of the spot market is not strong, the enthusiasm is not high, and the rising resistance is large. The analysis predicts that the PP warehouse receipt market is likely to fluctuate and fall tomorrow

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