A brief comment on the PP market of China Plastics

On January 7, 2010, China Plastics warehouse receipt PP market brief comment

I. fundamental news:

on Wednesday (January 6), oil prices rose $1.41 to $83.18 per barrel. Today, the offer of PP spot market weakened slightly, and the influence of oil price rise was greatly weakened. The warehouse receipt market was weak. The warehouse receipt index peaked and fell shortly after the opening, and the market continued to decline. At the close of 15:00, the China Plastics warehouse receipt index closed at 1018.46 points, down 4.01 points from the previous trading day, which can automatically open under the guidance of magnetic force

II. Technical conditions

stable and reliable performance main warehouse receipts

opening price

closing price

settlement price

trading volume

order quantity

pp1003

11080

10800

10950

915

2224

pp1004

1114 70

10900

11065

799

1054

opening today, PP warehouse receipts rose rapidly, the early market rose and fell, and began to oscillate and fall after 10 o'clock. By 11:30 a.m., the trading ended, and the PP warehouse receipt index was up 0.86 points to 1181.02 points. In the afternoon, the market continued to decline. After falling below yesterday's settlement level, the decline did not stop, and ended slightly lower in the late afternoon. The final PP warehouse receipt closed at 1175.56 points, down 4.59 points or 0.39% from the previous trading day. The daily K line of the index closed at the negative line, the lower part of the entity intersected with the 5-day moving average, the MACD index continued to rise, the red column was significantly shortened, and the KDJ index fell after the high fork. The smaller absolute value was defined as the valley value, the opening of the BOL line remained stable, and the center of gravity of the price line shifted. Today's trading was good, with trading volume of 2101 batches and order volume of 4346 batches

the main variety pp1003 opened high and walked high, with a stable trend in the early stage and no sign of sharp decline. However, after 10 o'clock, the market suddenly fell below yesterday's settlement price, and the decline was surging. Therefore, the flexible packaging manufacturers basically did not need it. The decline was more than 200 points, and the end of the day fell sharply. At the end of the session, pp1003 closed at 10800 yuan/ton, down 202 yuan/ton, and the daily K line closed at the long negative line

III. aftermarket forecast

as the market recently plunged without warning after the record high of metals, fuel oil, rubber and other commodities, and the range is large today, the panic psychology of investors spread, and the possibility of covering up in the short term is very small. The aftermarket operation should be light and wait-and-see, and adjust the state of mind

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