A brief comment on the PP market of China Plastics

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On August 31, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index fell 8.23 points to 992.03 points, and China Plastics warehouse receipt index fell 15.25 points to 948.35 points

I. upstream review

on Friday (August 28), the settlement price of West Texas light oil futures in October on the New York Mercantile Exchange was $72.74 a barrel, up $0.25 from the previous trading day, with a trading range of 71 5 software can also be 2 dollars; The settlement price of October Brent crude oil futures on the London Intercontinental Exchange was $72.79 a barrel, up $0.28 from the previous trading day, with a trading range of 71 35 dollars

Far East propylene closed at USD/ton FOB South Korea on Friday, down $26/ton. European propylene closed at euro/ton FD northwest Europe and euro/ton CIF northwest Europe, with a stable trend. Us propylene closed at the stage of batch trial production and market implementation 52 75 cents/pound, up 0.24 cents/pound

II. Fundamental news

① spot market:

pp market quotation declined slightly, and the overall performance was weak. Petrochemical pricing continues to support market costs, with a small decline. The decline of warehouse receipts/futures hit market confidence, and a gloomy atmosphere filled the air. Traders are not confident in the future market and dare not accept the goods easily, for fear that the price will fall in the later stage, and the actual transaction will raise pressure and make it difficult for the experimental machine to rise. 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:

in early trading today, the listing of PP in China Plastics spot mall was basically stable. The quotations of a few brands were adjusted, mostly downward, with a range of yuan/ton. The adjustment ranges of the other two brands were relatively large, rising by 700 yuan/ton and declining by 1050 yuan/ton respectively

III. technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order volume














opening today, PP warehouse receipts opened low, and the early market suddenly rose, turning from decline to rise, but failed to maintain. Soon, warehouse receipts fell rapidly, and the index gradually fell. At 11:30 a.m., the transaction ended, and the PP warehouse receipt index fell 14.38 points to 1098.21 points. In the afternoon opening, the market continued to decline slowly, and ended sharply lower in the late afternoon. The final PP warehouse receipt closed at 1094.78 points, down 17.82 points or 1.60% from the previous trading day. The K-line of the index closed at the long and negative line, falling below the medium and short-term average, the MACD index fell down, the green column increased, the KDJ index hovered at the low level, the opening of the BOL line significantly narrowed, and the focus of the price line shifted downward. Today's trading volume is average, with 1521 batches of trading volume and 3334 batches of ordering volume

the main variety pp0910 reported low and went low. After the market fell rapidly, it extended to 9880 yuan/ton. In the afternoon opening, the market fluctuated slightly and fell sharply in the late afternoon. At the end of the session, pp0910 closed at 9755 yuan/ton, down 263 yuan/ton, and the daily K line closed at the long negative line

IV. future forecast

in terms of spot goods, a shares plunged again, the domestic futures market fell sharply, and investor confidence was seriously frustrated. Under the guidance of petrochemical pricing and sales, the plastic market price was slightly supported, and the decline was not obvious. In terms of warehouse receipts, today's warehouse receipts and Liansu fell sharply after falling below the trend line, which is good and scarce in the short term, and it is difficult to rebound. However, as the consolidation area in the early stage is below the warehouse receipts, it may test the support

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean that it agrees with its views or proves the authenticity of its content by replacing the experimental equipment in time

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