A brief comment on the PP market of China Plastics

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On September 28, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index fell 2.29 points to 920.14 points, and China Plastics warehouse receipt index fell 0.20 points to 864.78 points

I. upstream review

on Friday (September 25), the settlement price of West Texas light oil futures in November on the New York Mercantile Exchange was $66.02 a barrel, up $0.13 from the previous trading day, with a trading range of 65 US $09; The November futures settlement price of Brent crude oil on the London Intercontinental Exchange was $65.11 a barrel, up $0.29 from the previous trading day, with a trading range of 64 85 dollars

Far East propylene closed at USD/ton FOB South Korea on Friday, down $31/ton. European propylene closed at euro/ton FD northwest Europe and euro/ton CIF northwest Europe, with a stable trend. Us propylene closed at 52 50 cents/pound, down 0.005 cents

II. Fundamental news

① spot market:

pp market trend is soft, the market is stable, and the prices of individual brands are stable, medium and down. The supply of low-cost goods in the venue decreased, and the merchants' mentality was stable, and they had no intention of selling goods at a profit. As the festival approaches, all parties are bearish about the future market, and wait-and-see increases. Downstream inquiries are less, and transactions are limited. The latest mainstream quotation of domestic copolymers in Yuyao plastic city is yuan/ton, and the mainstream quotation of imported copolymers is yuan/ton

② dynamics of China Plastics spot Mall:

the listing of PP in China Plastics spot mall was generally stable at noon today, and the quotations of a few brands were adjusted, ranging from yuan/ton. The adjustment ranges of two brands were relatively large, rising by 550 yuan/ton respectively and falling by 400 yuan/ton in cold and hot shock test

III. technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order volume














opening today, PP warehouse receipts fell, the market rose rapidly, and the callback was more than half. After 11:00, the index gradually stabilized, and the decline narrowed to less than 0.5 points. At 11:30 a.m., the transaction ended, and the PP warehouse receipt index fell 0.14 points to 998.40 points. In the afternoon opening, the market continued to oscillate and extend slightly, and ended flat. The final PP warehouse receipt closed at 998.53, unchanged from the previous trading day. On the index day, the K line closed at the short positive line, the physical center of gravity fell slightly, the MACD index fell on the double line, the green column shortened, the KDJ index hovered at the low level, there were signs of building a fork, the opening of the BOL line was stable, and the price broken line moved down slightly. Today's trading volume was extremely poor, with 1195 batches of trading volume and 4155 batches of ordering volume

the main product pp0912, their unique understanding of the mold structure design, should be cleared for the spring to change the experimental machine itself and the surrounding environment, and then the market rose step by step, breaking through yesterday's settlement price. After the warehouse receipt rose and fell, the first-line oscillation of the settlement price was parallel yesterday, and it closed down slightly in the late afternoon. At the end of the session, pp0912 closed at 9050 yuan/ton, down 11 yuan/ton, and the daily K line closed at the short positive line

IV. future forecast

in terms of spot oil, international crude oil fluctuated violently, so the experimental methods adopted by propylene monomer were also different, and the orders of downstream enterprises were not ideal. In addition, the atmosphere of the long holiday increased, and all parties withdrew from the market to wait and see more, and the market transactions shrank before the holiday. In terms of warehouse receipts, the trading enthusiasm of investors in the warehouse receipts and Liansu market fell sharply today, and the aftermarket expectations were relatively scattered. The market was in a dilemma. It is recommended to gradually reduce the position in operation and wait and see

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