Brief comment on the PP market of China Plastics w

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On August 3, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index rose 16.02 points to 1017.27 points, and China Plastics warehouse receipt index rose 18.45 points to 1004.43 points

I. upstream review

on Friday (July 31), the settlement price of West Texas light oil futures in September on the New York Mercantile Exchange was $69.45 per barrel, up $2.51 from the previous trading day, with a trading range of 64 $74; The settlement price of September Brent crude oil futures on the London Intercontinental Exchange was $71.70 a barrel, up $1.59 from the previous trading day, with a trading range of 68 $12

Asian propylene closed at USD/T FOB Korea on Friday, up by USD 9/T. European propylene closed at euro/ton FD northwest Europe and euro/ton CIF northwest Europe, with a stable trend. " Wei Hua, general manager of Nanjing hongbaoli new materials Co., Ltd., said to him that

II. Basic news

① spot market:

under the joint effect of rising oil prices and the rise of petrochemicals, the atmosphere in the PP market has warmed up and the quotation has risen significantly. Traders have little inventory, increased confidence and showed reluctance to sell. Downstream factories are still mostly on the sidelines, and the actual transaction volume is not obvious for the time being. The latest mainstream quotation of domestic wire drawing/injection plastics in Yuyao plastic city is yuan/ton, and the mainstream quotation of domestic copolymer is yuan/ton

② dynamics of China Plastics spot Mall:

at noon today, the listing of PP in China Plastics spot mall was relatively stable. Generally speaking, the quotation was the main player, with the increase basically in yuan/ton, and individual brands increased by 3000 yuan/ton. In addition, two brands made downward adjustments, falling by 100 yuan/ton and 500 yuan/ton respectively

III Technical status


opening price

closing price

settlement price

trading volume

ordering volume




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1045 80

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The quotation unit



opened today. PP warehouse receipts opened higher and went higher. In the early stage, the market peaked and fell back, and the callback range was not large. Since then, its trend has been basically horizontal and parallel. Overall, the market trend is relatively flat. At 11:30 a.m., the trading ended, and the index closed at 1156.35 points, up 15.86 points. In the afternoon opening, the warehouse receipts gradually rose, some of the main forces were closed on the daily limit, and the end of the day saw a sharp rise. The final PP warehouse receipt closed at 1161.47 points, up 20.97 points or 1.84% compared with the previous trading day. On the index day, the K line closed lower than the positive line, forming a gap with the previous trading day. The MACD index accelerated upward on both lines, and the red column increased. The KD index continued to rise. The opening of the BOL line was significantly enlarged, and the price line intersected with the resistance line. Today's trading volume is average, with 1760 batches of trading volume and 3507 batches of ordering volume

the main variety pp0910 opened higher and went higher. Soon the market entered a horizontal consolidation pattern. After 11:00, the warehouse receipts rose again. In the afternoon opening, the market fluctuated and the sampling frequency rose at 200Hz. In the late afternoon, the market closed up sharply. At the end of the day, pp0910 closed at 10533 yuan/ton, up 307 yuan/ton, and the daily K line closed at the Long Yang line

IV. future forecast

in terms of spot, the recent sharp rise in the prices of international crude oil and propylene monomers basically ensured the strength of the market. Petrochemical manufacturers have been listed or sold at fixed prices, which has increased the confidence of businesses and seen the dawn of market warming. In terms of warehouse receipts, the warehouse receipts and Liansu rose very strongly today, with sufficient confidence in bullish investment. However, due to the accumulated adjustment pressure after the three-day sharp rise in the market, it is necessary to pay attention to long profit taking in the later period

it is expected that the PP warehouse receipt market in the later period will be corrected after the sharp rise

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