The hottest October 16, 2009 China Plastics wareho

2022-08-13
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On October 16, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index fell 1.19 points to 948.63 points, and China Plastics warehouse receipt index fell 1.71 points to 903.93 points

I. upstream review

on Thursday (October 15), the settlement price of West Texas light oil futures in November on the New York Mercantile Exchange was $77.58 a barrel, up $2.40 from the previous trading day, with a trading range of 74 97 dollars; The November futures settlement price of Brent crude oil on the London Intercontinental Exchange was $74.45 a barrel, up $1.35 from the previous trading day, with a trading range of 72 65 dollars

Far East propylene closed at USD/ton FOB South Korea on Thursday, and the price trend was stable. European propylene closed at euro/ton FD northwest Europe and euro/ton CIF northwest Europe, with a stable trend. Us propylene closed at 36 75 cents/pound, up 0.375 cents

II. Fundamental news

① spot market:

pp market is generally stable, and individual brands are slightly adjusted. Although oil prices rose sharply and petrochemicals controlled shipments, which played a supporting role in the market, most businesses said that demand was still weak and did not dare to raise prices blindly. Downstream factories have weak intention to cover positions and strong wait-and-see mentality. According to the latest quotation of Yuyao plastic city, the mainstream quotation of domestic copolymers 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 some brands were adjusted, with ups and downs showing each other, with a range of yuan/ton

III. technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order volume

pp0911

9450

9410

9438

256

1566

pp0912

9458

.

9475

9476

675

2314

this morning, PP warehouse receipts opened low in the middle. On the other hand, in the early stage, the situation bottomed out and rebounded, and soon the index turned from green to red. However, the good times did not last long. After a short upward trend, the warehouse orders began to decline slowly. At 11:30 a.m., the transaction ended, and the PP warehouse receipt index fell 0.73 points to 1044.11 points. In the afternoon opening, warehouse receipts continued to oscillate and fell, and ended slightly lower in the late afternoon. The final PP warehouse receipt closed at 1042.70 points, down 2.15 points or 0.21% from the previous trading day. The daily K line of the index closed at the short positive line, intersecting with the 30 day moving average. MACD rose with the double line of the energy industrial structure adjustment index, and the red column shortened slightly. The three lines of the KDJ index converged, showing signs of building a fork. The opening trend of the boll line was upward, and the price line was horizontally shifted. Today's trading volume was poor, with 1483 batches and 5011 batches of orders

the main variety pp0912 oscillates slightly in parallel, and the buyer and the seller are sawing frequently and fighting fiercely. With the passage of time, the short side gradually gained an advantage, especially after the afternoon opening, the quotation was gradually reduced, and it rose slightly in the late trading, and closed down slightly. At the end of the day, when the closing price of pp0912 was 9475 yuan, the weak part of the mold core may be broken/ton due to the tightening of the rubber, down 18 yuan/ton, and the daily K line closed down the positive line

IV. future forecast

under the condition that the peripheral financial and commodity markets continue to strengthen, the domestic stock market and futures market still have not followed up, and the plastic market continues to adjust under this condition. The oil market continued to do well, which strongly supported the stable PP market. However, downstream manufacturers have obvious resistance to the current price, and the transaction is deadlocked. In terms of warehouse receipts, Liansu and PP warehouse receipts both ended in failure in the morning. They retook slightly in the afternoon, and investors' confidence is still insufficient. Future market expectations are relatively scattered, so they maintain a wait-and-see strategy in the short term

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