A brief comment on the PP market of China Plastics

2022-08-16
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On March 18, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

crude oil fell sharply. Today, China Plastics PP warehouse receipt market was slightly depressed, and the transaction atmosphere was general. The opening price was low. Due to the buyer's lack of confidence and unclear view of the market trend, the disk was controlled by the seller, and the low-level shock continued to the end of the market. China Plastics PP warehouse receipt means that these works have achieved remarkable results, and closed at 1286.99 points, which are made of many a/d conversion chips based on this principle, down 5.70 points from the previous trading day. It has high accuracy and sensitivity for the measurement and control of load, deformation and displacement. Technically, the daily K-line closed at the short negative line, the physical center of gravity fell, and the 5-day moving average began to fall to the bottom of the physical center of gravity; KDJ index fell sharply, subject to overbought areas; The opening of the Bollinger line is narrowed, and the price line is floating on the upper rail, and the price line is slightly downward. Today's market trading atmosphere is general, and the transaction is OK; Intraday trading is relatively balanced. Many buyers close their positions and have bargain hunting behavior, while some sellers sell back in the short term and many take advantage of the situation to build positions, with little change in orders

II. Analysis of main varieties:

pp0805 opened low and went low at 12390 yuan/ton. Today, the disk support was unfavorable, and the decline was all obvious. The low price fluctuated horizontally in a narrow range, and there was a slight decline in the late trading, ending at 12362 yuan/ton. The settlement price of pp0805 today was 12376 tons, down 52 yuan/ton from the previous trading day. The daily K-line closed at the short negative line, and the center of gravity entity fell. The 5-day moving average showed a downward trend, and was sorted below the entity center of gravity; KDJ index fell sharply and entered the oversold area. Today's trading atmosphere was general, and the volume of both continued to decrease

pp0806 opened low at 12515 yuan/ton, and the buyer's support confidence was slightly insufficient today. The disk was suppressed by the buyer and continued to fluctuate downward, and the disk finally closed down at 12472 yuan/ton. The settlement price of pp0805 today was 12484 yuan/ton, down 62 yuan/ton from the previous trading day. The daily K-line closed at the short negative line, and the center of gravity entity fell, and the 5-day moving average was arranged below the entity center of gravity; KDJ index is high, dead cross and down, subject to overbought areas. Today's trading atmosphere was a little low, the trading volume decreased, and the order volume remained stable

III. comprehensive comments:

on Monday, the price of crude oil futures market on the New York Mercantile Exchange (NYMEX) closed sharply lower, as the chaos in the U.S. stock market and other financial markets also impacted the commodity market. The settlement price of nymex4 crude oil futures market fell $4.53 to $105.68 a barrel, down 4.1%, the largest percentage decline since August 6 last year, and its intraday low was also the lowest level since March 6. The settlement price of Brent crude oil futures in May on the ICE Futures Exchange fell $4.45 to $101.75 a barrel. The PP market in Yuyao plastic city maintained a good trend, and the market was generally stable. In part, due to tight supply, the quotation continued to be small. 6. Various signs on the equipment were not clear and improved. In terms of trading: downstream factories are not active in purchasing, mainly due to the large price increase in the early stage, which is difficult for most of them to accept. 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 12400 yuan/ton

it is expected that the PP warehouse receipt market of Sinochem will have a downward trend in the future

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

source of information: 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 to agree with its views or confirm the authenticity of its content

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