A brief comment on the PP market of China Plastics

2022-08-16
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On January 13, 2010, China Plastics warehouse receipt PP market brief comment

I. fundamental news:

on Tuesday (January 12), oil prices fell $1.73 to $80.79 per barrel. Today, the atmosphere in the plastic spot market was not good. Under the pressure of negative factors such as falling oil prices, lower futures and weak demand, merchants' mentality was frustrated, and the overall offer was 8 Weight specification: 40kg × 4、30kg × 3、20kg × 3、10kg × 3、5kg × 2 fall back. There was no sign of improvement in terminal demand, and the transaction performance was flat. The warehouse receipt market performed poorly, the high level of crude oil fell, and the central bank tightened monetary policy, creating a pile of negative market conditions. The warehouse receipt index fell sharply at the opening, and then hit the bottom and oscillated to the end of the market. At the close of 15:00, the China Plastics warehouse receipt index closed at 984.58 points, down 19.42 points from the previous trading day

II. Technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order quantity

PP energy efficiency, environmental protection and product quality must be comprehensively considered 1003

10680

10569

10555

682

1944

.1004

10700

10715

10728

567

1141 put on a new package

today's opening, PP warehouse receipts opened low and went low, Due to too many negative factors, the market instantly released downward pressure, and the index fell sharply. In less than 10 minutes, the decline expanded to more than 23 points. Since then, the market trend has stabilized, with small horizontal oscillation and little amplitude, marking a horizontal straight track. At 11:30 a.m., the transaction ended, and the PP warehouse receipt index fell 23.55 points to 1133.59 points. In the afternoon opening, warehouse receipts continued to advance steadily, and ended sharply lower in the late afternoon. The final PP warehouse receipt closed at 1133.90 points, down 23 from the previous trading day, with rich experience and technology 24 points, down 2.01%. The daily K line of the index closed at the long negative line, falling below the 20 day moving average. The MACD index accelerated downward on both lines, the green column was significantly lengthened, the KDJ index continued to decline, the opening of the BOL line was significantly enlarged, and the price line was significantly moved downward. Today's trading volume is acceptable, with 1611 batches of trading volume and 4000 batches of ordering volume

the main variety pp1003 opened significantly lower at 10680 yuan/ton, and the early market continued to fall to the lowest level in the day of 10500 yuan/ton. After that, the market oscillated sideways, rose slightly, and ended sharply lower in the end. At the end of the session, pp1003 closed at 10569 yuan/ton, down 201 yuan/ton, and the daily K-line closed at the bareheaded middle Yin line

III. future forecast

today's PP spot market was affected by the sharp decline in oil prices, coupled with continued weak demand, business confidence was hit, and panic increased. Traders' enthusiasm for shipping has increased, but the downstream demand is still light, the wait-and-see atmosphere is strong, and the transaction is deadlocked. As the Spring Festival approaches, it is difficult to boost demand in the later stage, and the market may continue to consolidate in the short term. After the sharp decline of PP warehouse orders at the opening, it maintained a slight oscillation, and the decline did not continue to expand. It is expected that there is a great possibility of continued decline in the future market

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