A brief comment on the PP market of China Plastics

On February 18, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

China Plastics PP warehouse receipt market continued to fluctuate after the festival, and the pattern of slight decline has not been broken, and today's performance is still depressed. The opening price opened low and went low. There were two main periods of decline before changing the transmission part of the experimental machine. The decline was supported by the buyer and continued to fluctuate upward, but failed to break through the decline, and the market ended down. The China Plastics PP warehouse receipt index closed at 1230.39, down 0.54 points from the previous trading day. Technically, the daily K-line closed at the short negative line, the physical center of gravity fell slightly, and the 5-day moving average was arranged above the physical center of gravity; KDJ index rises, subject to oversold areas; The opening of the Bollinger line is enlarged, the price line is floating on the middle and lower rail, and the price line is downward. Today's trading is still relatively active, and the transaction is still good; Intraday trading was relatively balanced. Many sellers closed their positions and sold short at high prices, while many buyers built positions to catch up, and their orders changed little

II. Analysis of main varieties:

pp0804 opened low at 11735 yuan/ton, and quickly fluctuated low in the early stage. After that, the buyer supported strongly, pulled up and turned down in the mid session into an upward trend, and finally closed at 11780 yuan/ton. The settlement price of pp0804 was 11727 yuan/ton, down 7 yuan/ton from the previous trading day. The daily K-line closed at the short positive line, and the gravity center entity rose, and the 5-day moving average crossed the entity gravity center; KDJ index is up the golden fork, subject to oversold areas. Today's trading atmosphere is good, with a large increase in trading volume and a small decrease in order volume

III. comprehensive comments:

on Friday, the price of crude oil futures market on the New York Mercantile Exchange (NYMEX) broke through $96 a barrel, but finally closed flat, affected by weak U.S. economic data and profit taking operations before the long holiday. Nymex3 crude oil futures rose 4 cents to settle at $95.50 a barrel, up 0.04%, rising to $96.67 a barrel at one point in the session. On the ice futures exchange, the settlement price of Brent crude oil futures contract in April fell 53 cents to US $94.63 a barrel. The PP market in Yuyao plastic city did not rise significantly and did not coincide with the main needle. The transaction remained weak, and the market was stable and declining, with a decline of yuan/ton. 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 11500 yuan/ton

it is expected that the PP warehouse receipt market of China plastics will still be dominated by shock consolidation in the near 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