A brief comment on the PP market of China Plastics

On January 21, China Plastics warehouse receipt PP market brief review

I. Market Overview:

crude oil futures closed slightly higher on Friday according to the function of the spring change experimental machine. Today, China Plastics PP warehouse receipt trend is good, opening low and opening high. In the early stage, the buyer supported the shock and upward rush, the mid-term market had a pullback process, but was quickly pulled up by the buyer, and the mid-term and rear-term market shock went sideways until the end of the market. The China Plastics PP warehouse receipt index closed at 1260.30, up 2.56 points from the previous trading day. Technically, the daily K-line closed at short Yang, the physical center of gravity moved up, and the 5-day moving average was sorted above the physical center of gravity; KDJ index goes up and enters overbought area; The opening of the brin line tends to be flat, and the price break line moves along the medium rail transit, and the price break line tilts slightly upward. Today's trading atmosphere was cold, and the intraday sales were relatively large. Many buyers returned in the short term, pushing up the bottom gas was insufficient. 3. The sliding surface of the inlaid steel plate in contact with the lining plate and the dovetail groove surface on the lining plate should be kept clean. Many people build positions at high prices, and the order continued to be stable

II. Analysis of main varieties:

pp0803 opened flat at 11870 yuan/ton. Today, the market atmosphere was good, the price was always in the high range, and the market ended up at 11910 yuan/ton. The settlement price of pp0803 today was 11907 yuan/ton, up 37 yuan/ton from the previous trading day compared with traditional materials. The daily K-line closed at short Yang, and the gravity center entity rose, and the 5-day moving average crossed the entity gravity center; KDJ index rises, subject to oversold areas. The trading atmosphere was cold today, and the double volume continued to decrease

today, pp0804 opened low and went high at 11945 yuan/ton. The early shock rose and fell to the top. The shock pattern in the middle and rear session was difficult to change, and the session ended at 11990 yuan/ton. The settlement price of pp0804 was 11988 yuan/ton, up 31 yuan/ton from the previous trading day. The daily K-line closed at short Yang, and the gravity center entity rose, and the 5-day moving average crossed the entity gravity center; KDJ index rose and entered overbought area. Today's trading atmosphere was acceptable, with increased trading volume and slightly reduced order volume

III. comprehensive comments:

crude oil futures closed steady on Friday, erasing the rise in early trading, with sharp intraday oscillations. Previously, the Bush administration's initiative on economic incentives did not dispel investors' concerns that the U.S. economy is entering a recession. The settlement price of WTI crude oil futures contract in February rose 44 cents, or 0.5%, to $90.57 a barrel. The settlement price of Brent crude oil futures contract in March on the ICE Futures Exchange fell 48 cents to $89.23 a barrel. The PP market in Yuyao plastic city continued the trend of last weekend. The overall quotation was stable, with a slight decrease in some cases, and the transaction remained light. Due to the lack of substantial positive incentives, traders are currently lack of confidence in the future market, mainly conservative operation and low position operation. 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 11600 yuan/ton

it is expected that the China Plastics PP warehouse receipt market will still be in the adjustment stage of shock consolidation in the near future

wood plastic composite (WPC) and its products compared with wood (personal view, for reference only; based on this, enter the market, at your own risk)

source of information: China plastics trading

note: this reprint content is indicated with the source, reprinted for the purpose of transmitting more information, and does not mean to agree with its view or confirm the authenticity of its content