A brief comment on the PP market of China Plastics

On August 7, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index fell 3.77 points to 1022.50 points, and China Plastics warehouse receipt index fell 9.48 points to 1004.28 points

I. upstream review

on Thursday (August 6), the settlement price of West Texas light oil futures in September on the New York Mercantile Exchange was $71.94 a barrel, down $0.03 from the previous trading day, with a trading range of 70 US $42; The settlement price of September Brent crude oil futures on the London Intercontinental Exchange was US $74.83 per barrel, down US $0.68 from the previous trading day, with a trading range of US $

Far East propylene closed at USD/ton FOB South Korea on Thursday, with a stable trend. European propylene closed at euro/ton FD northwest Europe and euro/ton CIF northwest Europe, with a stable trend. Us propylene closed at 42 125 cents/pound, the trend is stable

II. Basic news

① spot market:

pp market quotation is stable, the atmosphere is tepid, the mentality of merchants is poor, and the enthusiasm for shipping is improved. The ex factory price of petrochemicals stabilized, and the supply of goods supported the market quotation, but the phenomenon of merchants chasing the rise temporarily subsided. Downstream factories generally hold a wait-and-see attitude. Although receiving goods is relatively normal, they are mainly sporadic. 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:

the listing of PP in China Plastics spot mall was relatively stable at noon today. Generally speaking, the quotation was mixed, with a range of yuan/ton. The adjustment range of individual brands was large, with an increase of 3430 yuan/ton

foam granulator III. technical status

variety

opening price

closing price

settlement price

trading volume

order quantity

pp0909

10470

10320

10383 ↓

567

1904

pp0910

10470

10330

10410 ↓

1259

1460

today's opening, PP warehouse receipts fell, and the market bottomed out slightly, but the correction was not large, Failed to recover the previous decline. Since then, warehouse receipts continued to decline slowly and fell below the previous low. At 11:30 a.m., the trading ended, and the PP warehouse receipt index fell 9.16 points to 1162.86 points. Afternoon 2: the serial port was occupied by other serial communication equipment. At the opening, the index continued to weaken, with a small range, and ended down in the middle of the late afternoon. The final PP warehouse receipt closed at 1160.71 points, down 11.31 points or 0.97% from the previous trading day. The K-line of the index closed lower than the negative line, falling below the 5-day average, the red column of MACD index shortened, and KDJ index fell. If you want to leave the overbought area, the opening of BOL line was stable, and the price fell in a broken line. Today's trading volume is average, with 1928 batches of trading volume and 3843 batches of ordering volume

the main variety pp0910 opened low and went down. Today, the market fluctuated sharply, but the overall trend was downward. Several waves of rebound occurred in the day, but they failed to stop the pace of decline. At the end of the session, pp0910 closed at 10330 yuan/ton, down 185 yuan/ton, and the daily K line closed at the long negative line

IV. future forecast

in terms of spot goods, the PP market mentality has weakened, the overall transaction is weak, and the merchant quotation tends to be stable. In terms of warehouse receipts, even plastic fell rapidly today, and PP warehouse receipts also fell, reversing some of the recent gains and releasing the callback pressure. It is expected that the short-term warehouse receipt market may turn, and the decline will force the probability of a trade war against China to increase

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