The hottest spot rose to help the rebirth of PP wa

2022-09-21
  • Detail

Spot gains helped the nirvana of PP warehouse receipts

as of the end of this week, China's plastic price index was at 1025.56 points, up 16.74 points from the same period last week. The China Plastics warehouse receipt index closed at 977.45 points, up 28.68 points from the same period last week

I. upstream review

in this period (from December 11 to December 17), the international crude oil stopped falling and rebounded, and the price rose slightly. Previously, crude oil fell for 9 consecutive trading days, with a cumulative decline of more than 10%, the longest decline in the year, falling below $70/barrel for the first time since October. The rebound of the US dollar exchange rate, the decline in demand and the rise in refined oil inventories have become the main reasons for the continuous decline in oil prices. However, this week, as the Dubai debt crisis gradually faded out, the market panic gradually subsided, and the dollar seemed to return to weakness. On Tuesday, it officially became the end of the nine consecutive overcast period of SAIC oil prices. Driven by the sharp decline in distillate oil inventories and the growth in oil demand, investors' technical short covering, and the strong counterattack of international oil prices, swept away the early haze. In the middle and late part of this week, the US dollar exchange rate strengthened, the number of unemployed people in the United States increased, and oil prices fell again, but by a small margin

for the week ended December 17, New York light oil futures for the first month closed at $72.65/barrel, up $2.11 from the previous week. London Intercontinental Exchange Brent crude oil futures for the first month closed at $73.37, up $1.51 from the previous week

second, the spot market

this week, the PP market first stabilized and then rose, and the overall increase was acceptable. At the beginning of the week, the slowdown in the decline of crude oil weakened the panic mentality of the market, the mentality of merchants stabilized, and some speculators' bottom hunting mentality began to sprout, but there were still few actual purchases. The downstream factories are mainly on the sidelines, and the transaction atmosphere is deadlocked. In the middle and late part of this week, with the end of the continuous decline of crude oil for 9 days, the enthusiasm of market speculation was ignited, and the supply of low-cost goods decreased rapidly. Petrochemical settlement is an important factor for the smooth progress of the experiment and the accuracy of the experimental results. The price is slightly higher than the market expectation, and the cost is supported, which also contributed to the rising market. Downstream speculative demand began to be strong, but the actual transaction still needs to be further improved. As of Friday, the latest domestic wire drawing/injection plastic mainstream in Yuyao plastic city was reported as yuan/ton, the domestic copolymer mainstream was reported as yuan/ton, and the imported copolymer mainstream was reported as yuan/ton

III. technical analysis

warehouse receipt variety

settlement price (yuan/ton)

PP warehouse receipt total transaction (batch)

PP warehouse receipt order quantity (batch)

this weekend

last weekend

rise and fall

this week

repair Embedding high molecular materials last week

increase and decrease

this weekend

last weekend

increase and decrease

pp1001

10216

9964

+252

7153

7818

-665

3768

3918

-150

pp1003

10543

10201

+342

as of Friday's close, the PP warehouse receipt index was at 1128.07 points, up 33.3 points from the same period last week

the PP warehouse receipt market rose sharply this week and fell slightly. The total rich market return is due to the rising market of excellent product technology. At the beginning of the week, the market continued the rebound momentum of late Friday, and quickly rose after short-term adjustment. In terms of technical form, it built a double bottom combination, opening a certain rebound space for the future market. However, due to the large rebound in the early stage, the PP warehouse receipts were overdrawn in advance. There was resistance above the market later this week, and the market made a corresponding correction. Opening on Monday, PP warehouse receipts rose rapidly, with a slight correction in the early disk, but the range was not large. After entering the mid market, the warehouse receipts resumed the upward trend, sweeping away the haze of last week. In the afternoon, the warehouse orders continued to oscillate and rise, and closed up in the middle of the afternoon. On Tuesday, the warehouse order opened high and oscillated. After hitting the high of 1109.73, the market circuitously and horizontally oscillated. In the afternoon, the market continued to explore slightly and broke through the high point in the early trading, and closed up in the late trading. On Wednesday, it opened sharply higher, and the market fell rapidly, reversing most of the gains. After 10 o'clock, the market trend gradually stabilized and the oscillation amplitude narrowed. In the afternoon, the warehouse orders continued to oscillate horizontally, and the market trajectory was close to a straight line, with a sharp rise in the late afternoon. On Thursday, the warehouse orders opened higher and went lower, and the market oscillated lower, with a small amplitude. In the afternoon, the downward trend continued, and the medium range closed up in the late afternoon. On Friday, PP warehouse receipts opened low in the middle, and the early market rebounded rapidly, recovering more than half of the decline. Since then, the market oscillated sideways, and the long and short forces were basically balanced. In the afternoon, the warehouse receipts rose steadily, the decline continued to narrow, and ended slightly lower in the late afternoon

According to the daily K-line chart of the index, the K-line entity combination closed 3 positive and 2 negative on this Sunday, and the entity continued to operate above each moving average at the end of the period. Overall, the market rose sharply. The weekly K-line shows the short positive line of this week's physical closing, the double line of MACD index rises, the red column lengthens, the high level of KDJ index stabilizes, the opening of BOL line is stable, and the price line breaks horizontally. This week's market trading was average, with trading volume reported 7153 batches, which fell sharply year-on-year last week. The order volume was reported as 3768 batches, which also fell back to a certain extent compared with last week

IV. aftermarket forecast

boosted by the petrochemical adjustment and the recovery of spot prices, Liansu once again saw a double somersault market today, with a strong momentum, covering yesterday's negative space and re establishing the short-term upward trend. Despite this, there has been a technical adjustment in the PP warehouse receipt market today. At present, market investors' expectations are relatively scattered, their mentality is confused, and there is a great suspicion of speculation in the plastic market, which may face high resistance in the short term. It is expected that the PP warehouse receipt market in the later period will not rule out the possibility of a slight decline

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content

Copyright © 2011 JIN SHI