A brief comment on the PP market of China Plastics

On January 16, China Plastics warehouse receipt PP market brief review

I. Market Overview:

the oil price fell to the lowest point in three weeks, and China Plastics PP warehouse receipt opened low. In the early stage, there were small, although I didn't know where iPhone 4 and Leica camera looked like to wave the upward trend, a small rise and fall, a small rise and fall in the middle and rear plate, and a small rise until the end of the plate. Zhongsu (for example, the PP warehouse receipt index on the clamping surface of samples such as plastic film and fiber yarn closed at 1260.15 points, down 5.97 points from the previous trading day. Technically, the daily K-line closed at a short positive, the physical center of gravity moved down, and the 5-day and 10-day moving averages were arranged below the physical center of gravity; the high level of KDJ index fell slightly, subject to overbought areas; the opening of the brin line continued to narrow, and the price fold line swam away on the medium rail, and the price fold line slightly tilted up. Today's trading atmosphere Generally, the trading volume continues to decrease slightly, and the intraday sales volume accounts for a large proportion. Many buyers close their positions, while the sellers sell back some short-term positions and have xinkong power to enter, and the orders are reduced slightly

II. Analysis of main varieties:

pp0803 opened low at 11890 yuan/ton, fell sharply in the early stage, rebounded and fluctuated upward after bottoming to 11800 yuan/ton, and closed at 11890 yuan/ton. The settlement price of pp0803 today was 11898 yuan/ton, down 52 yuan/ton from the settlement price of the previous trading day. The daily K-line closed at the cross star, and the center of gravity entity fell, and the 5-day moving average was sorted below the entity center of gravity; KDJ index fell, subject to oversold areas. The trading atmosphere today was general, and the double volume continued to decrease slightly

pp0804 opened low at 11980 yuan/ton today, followed by a narrow range of shock consolidation, and the situation of horizontal shock was maintained until the end of the session at 11965 yuan/ton. The settlement price of pp0804 was 11976 yuan/ton, down 66 yuan/ton from the previous trading day. The daily K-line closed at the short negative line, and the center of gravity entity fell, and the 5-day and 10-day moving average continued to be sorted below the center of gravity of the entity; KDJ index fell, subject to overbought areas. Today's trading atmosphere was acceptable, with a slight decrease in trading volume and a slight increase in order volume

III. The comprehensive review of the consolidated accounts of the third quarter of this year was jointly reviewed at the meeting:

crude oil futures fell to the lowest point in three weeks on Tuesday. The previously released weaker than expected U.S. retail data made the market more worried about the slowdown of crude oil demand. The poor retail data exacerbated the market's concern that the United States, the world's largest energy consumer, is gradually entering an economic recession, leading to the seventh decline in crude oil prices in nine trading days since the price of battery cathode materials, electrolyte, copper foil and other raw materials hit $100 a barrel for the first time on January 2. The settlement price of WTI crude oil futures contract in February fell by US $2.30 to US $91.90 per barrel, down 2.4%, which is the lowest settlement price of futures contract for delivery in recent months since December 20 last year. The settlement price of February Brent crude oil futures contract on the ICE Futures Exchange fell $1.94 to $90.98 a barrel. The PP market in Yuyao plastic city has a stable trend with little change, and continues to maintain a large, stable and small dynamic trend. At present, most downstream factories are still waiting and waiting, and a few enter the market, but the purchase volume is limited; Most traders are not sure about the future market and continue to operate in the short term, so the overall situation of weak transactions has not improved. The latest mainstream quotation of domestic wire drawing/injection plastic is yuan/ton, the mainstream quotation of domestic copolymer is yuan/ton, the mainstream quotation of imported copolymer is yuan/ton, and the mainstream quotation of monofilament powder is 11650 yuan/ton

it is expected that the PP warehouse receipt market of sinoplastics will be subject to shock and consolidation tomorrow

(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