A brief comment on the PP market of China Plastics

On October 25, China Plastics warehouse receipt PP market brief comment

I. Market Overview: cleaning method: replace the pressure stabilizing spring with appropriate stiffness or clean dirt

crude oil prices closed up on Wednesday after falling for three consecutive days. Affected by it, the overall performance of China Plastics PP warehouse receipt today was still good, with a significant boost. Although the opening was low, the good market performance and the buyer's confidence regained formed a favorable support for the PP warehouse receipt, and then it rose all the way, making great progress, The market continued to fluctuate upward until the close. The China Plastics PP warehouse receipt index closed at 1282.19, up 5.67 points from the previous trading day. Technically, the daily K-line closed at Zhongyang, and the center of gravity entity moved up, continuing to be above the 5-day moving average; KDJ index rises and is subject to overbought areas; The opening of the Bollinger line is enlarged, and the price line runs on the upper middle rail; MACD indicators show that there is still a long upward trend. Today, the trading atmosphere improved, the overall trading volume increased, the order volume decreased, and the support of the peripheral market was insufficient. Traders were still at a loss. In terms of transaction details, the proportion of buying volume is dominant, many buyers build positions to catch up, and some sellers close their positions and open short at high prices. It is expected that the PP warehouse receipt of China plastics may show a high rising trend in the near future, but the range will not be very large

II. Analysis of main varieties:

pp0712 opened at a high of 11898 yuan/ton. Although it fell in the early stage, under the overall support of the buyer, the market continued to be in a volatile upward trend, and the market ended up with a closing price of 11945 yuan/ton. The settlement price was 11912 yuan/ton, up 52 yuan/ton from the previous trading day. The daily K-line closed at Zhongyang, and the entity continued to be above the 5-day and 10 day moving average. Trading volume and order volume decreased today, and there was a strong wait-and-see atmosphere outside, and traders were cautious

pp0801 opened higher at 11960 yuan/ton today. Looking at the overall situation, the buyer's confidence regained, supporting the overall price shock and rise, and the market ended up at 12072 yuan/ton. The settlement price increased by 59 yuan compared with the previous trading day. The daily K-line closed at Zhongzhong, Professor xuzhongbin of Zhejiang University/Bo daoyang. The entity rose and was above the 5-day moving average. Today, the trading atmosphere warmed up, the trading volume increased significantly, and the order volume remained stable. Traders are still optimistic about the future trend of PP

III. comprehensive comments:

on Wednesday, the price of crude oil futures market on the New York Mercantile Exchange (nyme control system software is WindowsXP operating system platform x) closed higher, reversing the decline for three consecutive trading days; The weekly inventory data released by the Department of energy showed that the inventory of crude oil, gasoline and distillate oil in the United States fell last week, which was unexpected to the market. WTI closed at 87.10 yuan/barrel, up $1.83; Brent closed at $84.37/barrel, up $1.52. In the morning, the market atmosphere of PP in China plastic city was ok, and the market gradually stabilized. The quotation of some brands increased due to tight supply, but the momentum was not strong, and the key was still the lack of strong support from downstream demand. 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 11900 yuan/ton

(personal view, for reference only; based on this, enter the market at your own risk)

source of information: China plastics trading

the problem faced by China's lithium battery industry is that the concentration is significantly low. Note: this reprint indicates the source, which is for the purpose of transmitting more information, and does not mean to agree with its view or confirm the authenticity of its content