A brief comment on the PP market of China Plastics

2022-10-22
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On August 28, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index fell 0.64 points to 1000.26 points, and China Plastics warehouse receipt index fell 1.94 points, increasing the synergy of the passive gear to 963.6 points

I. upstream review

on Thursday (August 27), the settlement price of West Texas light oil futures in October on the New York Mercantile Exchange was $72.49 a barrel, up $1.06 from the previous trading day, with a trading range of 69 $95; The October futures settlement price of Brent crude oil on the London Intercontinental Exchange was $72.51 a barrel, up $0.86 from the previous trading day. Isocyanate (TDI) and other toxic substances in the trading area were too toxic 70 Eight dollars

Far East propylene closed at USD/ton FOB South Korea on Thursday, with a stable trend. European propylene closed at euro/ton FD northwest Europe and euro/ton CIF northwest Europe, with a stable trend. Us propylene closed at 52 63 cents/pound, stable trend

II. Fundamental news

① spot market:

pp market trend is poor, the market fluctuates slightly, and some decline slightly. The market mentality is mainly bearish, and the phenomenon of merchants selling goods at low prices is increasing. Petrochemical pricing supports market costs, and there is little room for buying. The latest mainstream quotation of domestic wire drawing/injection plastic in Yuyao plastic city is yuan/ton, and the mainstream quotation of domestic copolymer is yuan/ton

② dynamics of China Plastics spot Mall:

the listing of PP in China Plastics spot mall was basically stable in general this morning, and the quotations of a few brands were adjusted, with ups and downs, with a range of yuan/ton. The oil tank of the pump station adopts a fully enclosed design room

III. technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order volume

pp0909

9900

9825

9847

334

1100

pp0910

10080

.

10000

10018

697

1815

this morning, PP warehouse receipts opened sharply higher, but soon the market fell in pieces, falling below yesterday's closing price at about 10:10. Since then, the warehouse receipts continued to maintain the early decline, and the performance was very weak. At 11:30 a.m., the transaction ended, and the PP warehouse receipt index fell 1.46 points to 1113.47 points. In the afternoon opening, the market continued to decline and ended slightly lower in the late afternoon. The final PP warehouse receipt closed at 1112.59 points, down 2.34 points or 0.21% from the previous trading day. On the index day, the K-line closed lower than the negative line, and the physical center of gravity was close to the previous two days. The MACD index fell on both lines, the green column shortened, the KDJ index continued to hover in the oversold area, the opening of the BOL line was stable, and the price line moved parallel. Today's trading was poor, with trading volume of 1203 batches and order volume of 3415 batches

the main variety pp0910 opened higher and went higher. The market adjusted slightly in the early stage, and then fell back. The quotation fell to 9995 yuan/ton, fluctuated in a narrow range, and closed down slightly in the late trading. By the end of the session, PP will also carry out comprehensive and multi-level energy-saving technological transformation. The closing price of 0910 was 10000 yuan/ton, down 44 yuan/ton, and the daily K line closed lower

IV. future forecast

in terms of spot goods, a shares continued to decline, petrochemical pricing was lowered at the end of the month, the trend of the spot market was poor, the market fluctuated slightly, and some fell. In terms of warehouse receipts, PP's main warehouse receipts fell below yesterday's settlement price soon after the opening, and the situation was weak. It is expected that the decline of PP warehouse receipts in the later period will be difficult to change, and there is a high probability of reduction

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