A brief comment on the PP market of China Plastics

On September 21, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index fell 5.52 points to 939.34 points, and China Plastics warehouse receipt index fell 8.01 points to 882.53 points

I. upstream review

on Friday (September 18), the settlement price of West Texas light oil futures in October on the New York Mercantile Exchange was $72.04 a barrel, down $0.43 from the previous trading day, with a trading range of 71 $66; The November futures settlement price of Brent crude oil on the London Intercontinental Exchange was $71.32 a barrel, down $0.23 from the previous trading day, with a trading range of 70 79 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 51 125 cents/pound, the trend is stable

II. Fundamental news

① spot market:

crude oil fell slightly, PP market price fell, and the decline in quotations across the country was generally 100 yuan/ton. The market atmosphere is calm and the inquiry is OK, but the demand is light and the actual transaction is rare. The downstream manufacturers were in a heavy wait-and-see mood and reacted negatively, leading to a dull market atmosphere and a deal deadlock. Yuyao plastic city quickly converts a/d signals into digital signals and sends them to the accounting machine for data processing. The mainstream quotation of new domestic wire drawing/injection plastics is yuan/ton, and the mainstream quotation of domestic copolymers is yuan/ton

② dynamics of China Plastics spot Mall:

in afternoon trading today, the listing of PP in China Plastics spot mall was generally stable, and the quotations of a few brands were adjusted, with ups and downs ranging from yuan/ton. The adjustment ranges of the other three brands were relatively large, falling by 400 yuan/ton, 650 yuan/ton and 300 yuan/ton respectively

III Technical situation

the main warehouse improves the energy utilization efficiency of the plastic granulator process and the prevention and control of environmental pollution are complementary. Single

opening price

closing price

settlement price

trading volume

improve the accuracy of the experiment

order volume

pp0911

9200

9210

9212

660

2383

pp0912

9250

9230

9228

408

850

open today, PP warehouse receipts dived, the market bottomed out and rebounded in the early stage, and the trend was stable. After 10:00, the warehouse receipts went down slowly, and the index gradually fell. At 11:30 a.m., the transaction ended, and the PP warehouse receipt index fell 9.01 points to 1018.57 points. In the afternoon opening, the market stopped falling and stabilized, with little change, and closed down in the middle of the late session. The final PP warehouse receipt closed at 1018.241 points, down 9.34 points or 0.91% from the previous trading day. On the index day, the K-line closed lower than the negative line, the moving average system was arranged in short positions, the MACD index fell slowly on both lines, the green column increased, the KDJ index continued to fall, and it operated in the oversold area for a long time. The opening of the BOL line was significantly enlarged, and the price break line intersected with the off track. Today's trading volume is average, with 1494 batches of trading volume and 4622 batches of ordering volume

pp0911, the main variety, was low, the market oscillated and extended, the buyer and the seller saw frequently, the quotation fluctuated, and closed down in the late afternoon. At the end of the session, pp0911 closed at 9210 yuan/ton, down 78 yuan/ton, and the daily K line closed at the spindle line

IV. future forecast

in terms of spot goods, the current PP market is dominated by negative factors, and the market is difficult to improve. As the National Day holiday approaches, the downstream receiving efforts will be weaker. The future quotation may continue to fluctuate slightly, but there should be little room for rise and fall. In terms of warehouse receipts, PP warehouse receipts oscillated and fell today, and the trend became stable in the afternoon. On the whole, the market was depressed. It is expected that the market will continue to decline in the later period, and the strength of the short side needs to be released

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