The hottest March 20 China Plastics warehouse rece

2022-08-09
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On March 20, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

the sharp decline in crude oil has an impact on today's China Plastics PP warehouse receipt. Market confidence is slightly insufficient, and the opening was significantly lower. The buyer tried to raise the index in the previous session, but due to insufficient response, it was difficult to cry alone, and then it was continuously suppressed by the seller, and the end of the session fell. The China Plastics PP warehouse receipt index closed at 1271.17, down 9.91 points from the previous trading day. Technically, the daily K-line closed at the short positive line, and the physical center of gravity fell sharply, with the 5-day and 10 day moving average finishing above the physical center of gravity; KDJ index accelerated and fell sharply, subject to oversold areas; The opening of the Bollinger line continues to narrow, and the price line moves along the medium rail transit, and the price line tilts slightly upward. Today, the market trading atmosphere is slightly depressed, and the trading volume is reduced; Intraday sales accounted for a large proportion. Many buyers closed their positions and took in bargain hunting, while some sellers took part in short-term selling back and took advantage of the situation to build positions, and the order volume decreased slightly

II. Analysis of main varieties:

pp0805 sample requirements are national standards: the 10*10*55mm model opened low at 12270 yuan/ton. Today, the momentum for the market to rise was insufficient, and the buyer was bearish in the future and did not dare to sell rashly. The market was continuously suppressed by the seller and fell, and closed at 12185 yuan/ton. The settlement price of pp0805 today was 12229 tons, down 8% from the previous trading day. The two models of xcp150/100 and xcp120/90 rubber melt gear pump extrusion units jointly developed were 6 yuan/ton. The daily K-line closed at the middle Yin line, and the focus entity continued to decline sharply, and the 5-day moving average fell back, above the focus of the entity; KDJ index fell sharply, subject to oversold areas. Today's trading atmosphere was gloomy, and both volumes decreased to varying degrees

pp0806 opened low and went low at 12397 yuan/ton today. The buyer was unable to pull up, and the disk seller was dominant. In the middle of the market, it was flat in the horizontal shock, and fell in the late market shock until it finally closed at 12250 yuan/ton. The settlement price of pp0805 today was 12291 yuan/ton, down 138 yuan/ton from the previous trading day. The daily K-line closed at the Long Yin line, and the center of gravity entity fell sharply. The 5-day moving average fell but was above the center of gravity of the entity; The KDJ index has significantly accelerated its decline, subject to oversold areas. Today's trading atmosphere was acceptable, and both volumes maintained the level of previous trading days

III. comprehensive comments:

on Wednesday, the price of crude oil futures market on the New York Mercantile Exchange closed down nearly $5, as traders lifted commodity futures positions one after another. Nymex4 crude oil futures market fell $4.94 to $104.48 a barrel, down 4.5%. The April crude oil futures contract expired on Wednesday. The settlement price of May crude oil futures contract on the New York Mercantile Exchange, which is more actively traded, fell $5.96 to $102.54 a barrel. ICE Futures Exchange published these materials in May, including 3D printing wires, plastic bottles, zippers and fishing lines. Lunt crude oil futures contract fell $4.84, and the settlement price was $100.72 per barrel. The PP market atmosphere in Yuyao plastic city has cooled down, and the quotation is stable and tends to decline, ranging from yuan/ton. Due to the strong speculation in the market in the early stage and the rapid rise, the downstream demand was restrained, resulting in the poor transaction that was not very prosperous. In addition, the sharp fall in international oil prices yesterday had a certain impact on the sentiment of businesses, thus reducing the sales price accordingly. The latest mainstream quotation of domestic wire drawing/injection plastics is yuan/ton, that of domestic copolymers is yuan/ton, that of imported copolymers is yuan/ton, and that of monofilament powder is 12400 yuan/ton

it is expected that the PP warehouse receipt market of China Plastics Co., Ltd. will be volatile and slightly lower tomorrow

(personal view, for reference only; enter the market accordingly, 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 a part of more information properly filed with a file along the axis of the damping needle, which does not mean agreeing with its view or confirming the authenticity of its content

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