The hottest January 23 China Plastics warehouse re

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On January 23, China Plastics warehouse receipt PP market brief comment

I. Market Overview:

affected by the low oil price on Monday, PP temporarily suspended the recovery trend of the previous days and fell slightly. Opening in the morning, except for PP warehouse receipts in recent months, the rest opened slightly lower. After a short adjustment in the early stage, the price gradually fluctuated and fell, and closed down in the late afternoon. Today, the volume of PP is still good, the differences between the two sides remain, the trading is active, and there are many short-term operations. The transaction volume is slightly reduced compared with yesterday, and the order volume is stable and slightly reduced. The overall commission ratio data shows that the power of the buyer and the seller is relatively balanced. PP warehouse receipt index closed at 1248.13, down 5.84 points from the closing of the previous trading day. The daily chart of PP index closed short positive, the entity moved down to the 5-day moving average, the price line in the brin line ran near the medium rail, and the green column of MACD index continued to shorten

II. Analysis of main varieties:

pp0704 opened slightly lower today, and the early intraday price adjustment Z - the perimeter length of the carton (CM); After automatically saving the maximum force value, all rebounded, once turned down to up, then fluctuated downward, and closed lower in the late afternoon. The settlement price fell by 63 yuan/ton compared with the previous trading day. The daily K-line closed short and overcast, and the entity intersected the 5-day moving average, while the Shangying line touched the 10 day moving average. During the session, the trading atmosphere was active, the transaction volume was large, and some bilateral positions were closed, resulting in a slight drop in the order volume

pp0705 opened slightly lower today. In the early stage, the intraday price fluctuated significantly and fell slightly. In the middle and late stage, it basically showed a horizontal adjustment, and closed slightly lower in the late afternoon. The settlement price decreased by 49 yuan/ton compared with the previous trading day. The daily K-line closed short and overcast, and the entity moved down to intersect with the 5-day moving average. The atmosphere of disk trading turned cold at 117.7, the transaction volume contracted significantly, and the order volume was relatively stable, close to the maximum order limit

III. comprehensive comments:

in terms of international futures, WTI and Brent closed at $51.13 and $52.70/barrel on Monday, down $0.86 and $0.74/barrel respectively. In terms of spot goods, the ex factory price of domestic petrochemicals has generally stabilized, with very few prices falling by 600 yuan/ton. The overall market in all regions is basically stable, and there is a slight adjustment in some cases. The demand of downstream factories is still weak, but a small number of factories take goods, and the traders' mentality is unstable. Most of them are on the sidelines. The overall supply of goods in the market is small, and the transaction atmosphere is acceptable. The quotation of individual brands in the PP raw material market of Yuyao plastic city fell by yuan/ton. On the whole, PP is likely to continue to adjust when the fundamental signal is not strong. As many brands have released carton orders in advance under inflation expectations

(personal views, for reference only; based on this, they enter the market at their own risk)

source of information: China plastics trading

note: this reprint is for the purpose of transmitting more information, and does not mean that they agree with their views or confirm the authenticity of their content

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