A brief comment on the PP market of China Plastics

On December 5, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

the oil price fell again on Tuesday. Today, China Plastics PP warehouse receipt was affected by this, and opened low. Then it began to rebound after the previous trading shock and fell back to the lowest point of 1321.48 today. The buyer was relatively dominant. The middle and rear trading fluctuated both narrowly and slightly upward, and finally closed at 1322.82, down 1.65 points from the previous trading day. Technically, the daily K-line closed at short Yin, the entity's center of gravity fell, and the 5-day and 10-day moving averages were sorted under the entity; KDJ index is slightly higher, subject to overbought areas; The opening of the brin line is narrowed, the price line is wandering in the medium rail transit, and the price line is downward. Today's trading atmosphere was cold, the transaction was poor, and the intraday trading was relatively balanced. Some sellers made short-term returns and new air forces entered, while the buyers partially closed their positions, and many bargain hunters took in, with little change in orders. It is expected that in the near future, the market will be mixed with bad and good, and the possibility of maintaining the shock situation of sinoplastics PP warehouse receipts is greater

II. Analysis of main varieties:

pp0801 opened low at 12355 yuan/ton. Today, the overall situation is in fluctuation. The strength of both sides is balanced, and the disk breakthrough is weak, reaching the closing price of 12376 yuan/ton. The settlement price was 12358 yuan/ton, down 22 yuan/ton from the previous trading day. The daily K-line closed at the short Yang line, and the center of gravity entity basically went flat; KDJ index rises, subject to oversold areas. Today's trading atmosphere turned cold, trading volume contracted, and the order volume decreased slightly

opening PP, of which 0803 opened low at 12473 yuan/ton. In the early stage, it rose and broke the decline trend, but its endurance capacity was limited. The mid market fell again, and the buyers in the mid and late market began to have support. The market was driven up by shocks, and the market finally closed at 12480 yuan/ton. Pp0803 quickly dial the pointer back to the left limit position of the dial by hand, and the settlement price is 12476 yuan/ton, down 6 yuan from the previous trading day. The daily K-line closed at short Yang, and the center of gravity was shihuafeng spandex: the chemical fiber material body including carbon fiber was moved down, and the 5-day and 10-day moving average was arranged below the physical center of gravity; The high level of KDJ index tends to be flat, subject to overbought areas. Today's trading atmosphere was slightly cold, the trading volume did not improve, and the order volume increased slightly

III. comprehensive comments:

crude oil futures closed lower on Tuesday, as traders needed to repeatedly increase and decrease oil production in the organization of petroleum exporting countries, and began selling a few hours before the meeting. U.S. intelligence reports that Iran has stopped its nuclear weapons program also put pressure on oil prices. WTI January crude oil futures contract fell $0.99 to $88.32 a barrel; January Brent crude oil futures fell $0.27 to $89.53 a barrel. The PP market performance of Yuyao plastic city was calm, and the quotation basically remained unchanged. As the purchasing enthusiasm of downstream factories before the festival is not very high, in addition to cash purchase and a small amount of goods preparation, most of them are still on the sidelines, and most traders are cautious about the future market, so the overall transaction is still relatively light. 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 12150 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