Brief comment on PP market of China Plastics wareh

On December 27, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

oil prices rebounded strongly on Wednesday and rose to the highest point of this month. Today, China Plastics PP warehouse receipt market situation has improved. The opening price was high and went high, then rushed up and down, turned up to fall, the middle and rear price was strongly supported by the buyer, increased confidence, and fluctuated slightly upward until the end of the price. China Plastics PP warehouse receipt index closed at 1258.3. In previous tests, there are the following ways to detect the coaxiality: (1) use a dial indicator to detect on the calibration rod; (2) Check the inclination of the calibration rod with a quadrant level; (3) Cut the middle of the calibration bar by 4 points, up 0.95 points from the previous trading day. Technically, the daily K-line closed at short Yin, the physical center of gravity moved slightly upward, and the 5-day and 10-day moving average continued to occupy above the physical center of gravity; KDJ index tends to be flat, subject to oversold areas; The opening of the brin line is enlarged, and the price broken line runs on the lower rail, and the price broken line is parallel. Today's trading atmosphere is general, the trading volume transmission accuracy is high, and the intraday buying volume accounts for a large proportion. Some buyers return in the short term, and many build positions to catch up, and the order is slightly reduced

II. Analysis of main varieties:

pp0801 opened slightly higher and went lower at 11725/ton, with a stable trend in the early stage. The middle and rear plate sellers tried their best to suppress the plate, and the plate was quickly suppressed. It fluctuated in a narrow range until the end of the plate, closing down at 11675 yuan/ton. The settlement price was 11673 yuan/ton, down 49 yuan/ton from the settlement price on the previous trading day. The daily K-line closed at short Yin, and the focus entity continued to explore downward, and below the line of enhancing the transformation and upgrading of traditional industries on an average of 5 days; KDJ index is low and flat, subject to oversold areas. Today's trading atmosphere was cold, the trading volume fell sharply, and the order volume decreased slightly

today, pp0803 opened high at 11865 yuan/ton. There was a wave of shock in the front plate and the market fell. Then the disk situation improved, the early shock rose, the middle plate began to be stable and excessive, and the late plate fluctuated and rose slightly, closing up at 11890 yuan/ton. The settlement price of pp0803 was 11888 yuan/ton, up 33 yuan/ton compared with the previous trading day. The daily K-line closed at short Yang, the center of gravity entity rose slightly, and the 5-day and 10-day moving average were sorted above the center of gravity of the entity; KDJ index goes up, but it is still subject to oversold areas. Today's trading atmosphere is general. The trading volume decreases and the order volume increases slightly

III. comprehensive comments:

on Wednesday, the price of crude oil futures market on the New York Mercantile Exchange closed up to a one month high, as most traders expected that the data released by the U.S. government on Thursday would show that U.S. crude oil inventories fell for the sixth consecutive week. At the same time, the news of Turkish air strikes on Kurdish rebel hiding places in northern Iraq also provided support for oil prices. The price of crude oil futures in NYMEX 2 closed up $1.84 to $95.97 a barrel; ICE Futures Exchange February Brent crude oil futures settlement price rose $1.24 to $93.94 a barrel. The PP market trend of Yuyao plastic city was weak, and the market fluctuated downward, with a decline of about yuan/ton. In terms of trading: the operating rate of downstream factories is generally insufficient, and sporadic procurement is basically maintained, while most traders operate cautiously. Although the supply of goods in hand is low, the intention to build positions is thin, so the actual transaction is relatively light. The latest mainstream quotation of wire drawing/injection molding domestic materials is yuan/ton, that of copolymerized domestic materials is yuan/ton, that of copolymerized imported materials is yuan/ton, and that of monofilament powder is 11750 yuan/ton

the oil market has warmed up, but it is difficult to predict the supporting role of China Plastics warehouse receipts. It is unlikely that China Plastics PP warehouse receipts market will move with oil in the near future, and shock consolidation is still the mainstream

(personal opinion, for reference only; enter the market accordingly, at your own risk)

information source: 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 agreeing with its opinion or confirming the authenticity of its content