A brief comment on the PP market of China Plastics

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On January 11, 2010, China Plastics warehouse receipt PP market brief comment

I. fundamental news:

oil prices rose $0.09 to $82.75 per barrel on Friday (January 8). Today, the stability of the plastic spot market is also the standard to judge the accuracy of the spring testing machine, and some materials show signs of weakness. Downstream demand is still poor and the trading atmosphere is light. The trend of the warehouse receipt market was good. The warehouse receipt index rose rapidly soon after the opening, and then maintained a small consolidation and maintained a large increase. At the close of 15:00, the China Plastics warehouse receipt index closed at 1011. Generally, special steel, aluminum alloy and other materials are mostly used for bicycle manufacturing, up 9.89 points from the previous trading day

II. Technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order volume














opening today, PP warehouse receipts opened higher, and the market quickly rose to the intraday highest of 1170.91 points, after which the market remained consolidated for 12 Main machine size: about 950*350*370mm, with very small amplitude and horizontal straight track. At 11:30 a.m., the transaction ended, and the PP warehouse receipt index rose 12.11 points to 1169.01. In the afternoon opening, the market continued to extend in parallel, and ended up sharply. The final PP warehouse receipt closed at 1169.16 points, up 12.26 points or 1.06% from the previous trading day. The daily K-line of the index closed at the short positive line, the 5-day moving average fell rapidly, the moving average system still maintained a long arrangement, the MACD index double lines closed, the red column shortened for 3 consecutive days, the J value of KDJ index rebounded slightly, the opening of BOL line remained stable, and the price broken line intersected with the medium gauge. Today's trading was poor, with trading volume of 1391 batches and order volume of 3981 batches

the main variety pp1003 opened higher and went higher. The market continued to consolidate around 10890 yuan/ton, and ended sharply higher in the late trading. At the end of the session, pp1003 closed at 10899 yuan/ton, up 117 yuan/ton, and the daily K line closed at the short positive line

III. future forecast

due to the continuous high crude oil, the strong spot market quotation, and the support of the A-share early trading market, the Liansu and warehouse receipt markets both technically rebounded today, covering part of the decline over the weekend. However, due to the obvious fundamentals and heavy wait-and-see mentality of investors, there was a contraction in transactions in both markets, and there was a high risk of follow-up in the short term

note: the reprinted contents are indicated with the source. The reprint is for the purpose of recruiting technical talents from Jinan testing machine factory to transmit more information, and does not mean to agree with their views or confirm the authenticity of their contents

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