Brief comment on the opening of PP warehouse recei

2022-07-22
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On March 26, a brief comment on the opening of PP warehouse receipts

on Tuesday, the oil price recovered slightly. In addition, in the morning, Tianjin Petrochemical and Qilu Petrochemical raised their ex factory prices one after another. The market performance of China Plastics PP warehouse receipts (5) was good, and the overall pace was on the rise. The main warehouse receipt variety pp0805, with its inefficient material utilization and waste, will lead to an increase in the overall cost of 12220 yuan/ton, which will open slightly higher. After the opening, it will quickly rise with the supply conditions of China's petroleum products, and the price once rose to 12245 yuan/ton. At present, it is pressured by the selling price, showing a trend of concussion and decline, and making a narrow consolidation near the opening price. KJD indicator shows a slight upward trend, while MACD indicator shows a slight increase in green

the spot market is weak, the influence of demand on the market begins to play a significant role, and downstream factories lack confidence in the market, so the quantity of goods received is very small. It is expected that in the near future, China Plastics PP warehouse receipts will face the market of shock consolidation

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