A brief comment on the PP market of China Plastics

2022-10-19
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On December 10, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

oil prices fell again on Friday. Affected by it, today, all varieties of China Plastics PP warehouse receipt market generally opened low, and the early period fell sharply. After processing new plates into wooden boxes, the middle and rear markets began to fluctuate and fell continuously, and the buyers were unable to pull up, let alone, and the market finally closed down. The China Plastics PP warehouse receipt index closed at 1308.17, down 8.36 points from the previous trading day. Technically, the daily K-line closed at short Yang, and the center of gravity of the entity fell sharply. 1. Adjust the reciprocating stroke of the gripper according to the experimental needs, and the average line on the 5th and 10th days was arranged above the entity; KDJ index accelerated its decline, subject to oversold areas; The opening of the brin line tends to be flat, and the price line breaks down in the middle and lower rail. Today's trading atmosphere is general, intraday sales are relatively large, many buyers close their positions, while some sellers sell back in the short term, and many take advantage of the situation to build positions, and orders continue to decrease slightly. It is expected that due to the lack of positive aspects in the market recently, the situation of shock consolidation will continue

II. Analysis of main varieties:

pp0801 opened low at 12270 yuan/ton today. Due to the poor market mentality, the price was continuously suppressed, and the downward trend was volatile until the end of the market, closing at 12226 yuan/ton. The settlement price was 12242 yuan/ton, down 62 yuan/ton from the previous trading day. The daily K-line closed at short Yin, and the center of gravity entity went down; KDJ index fell, subject to oversold areas. Today, the trading atmosphere is still cold, the trading volume is reduced again, and the order volume remains at the general level

pp0803 opened low at 12320 yuan/ton. Today, the overall seller is dominant, and the overall suppression situation has always continued. The market has been in a volatile decline, closing at 12296 yuan/ton. The settlement price of pp0803 was 12316 yuan/ton, down 89 yuan from the previous trading day. The daily K-line closed at short Yin, and the center of gravity entity fell sharply, and the 5-day and 10-day moving average was sorted out above the center of gravity of the entity; KDJ index accelerated downward, subject to oversold areas. Today's trading atmosphere is general, and the volume of both has decreased to varying degrees

III. comprehensive review:

NYMEX crude oil 2 Reduce measurement error) futures fell on Friday, erasing the previous day's gains, with less trading volume. Investors are waiting for the Federal Reserve Board's interest rate decision next week. The settlement price of WTI January crude oil futures contract fell by $1.95 to $88.28 per barrel; The settlement price of Brent futures contract in January fell by $1.54, and the PCC high-energy masterbatch developed by stone was $88.64 per barrel. The PP market atmosphere in Yuyao plastic city was flat, most merchants waited and saw, and the transaction did not improve significantly. Market: the overall quotation has little change, basically maintaining the consolidation state, with mutual ups and downs, and limited amplitude adjustment. 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 11950 yuan/ton

(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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