The most popular PP weekly review was positive and

2022-07-27
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[PP weekly review] the market will continue to be bullish in the future.

I. this week's market (from March 10 to March 14):

this week, the plastic warehouse receipt market continued the good trend of previous weeks, with a strong upward momentum. In March, the crude oil and spot markets continued to rise, and the trading atmosphere became increasingly active. As of 15:00 this Friday, the China Plastics warehouse receipt index closed at 1320.89, up 8.08 points over the weekend. The settlement price of various varieties of PP warehouse receipts this week was higher than that of last week

on Monday, China Plastics PP warehouse receipt market continued the good trend of last weekend and continued to rise. The opening price opened slightly lower, and then, supported by the buyer's strong strength, it rose to the opening price in a straight line. The middle and rear price began to level off, with little change in the price, and rose slightly to the closing price. On Tuesday, oil prices and spot market prices rose, the market turned warmer, and many positive factors supported the continuous rise of China Plastics PP warehouse receipt market. The opening price was significantly higher, and the buyer strongly supported the shock upward until the end of the price. On Wednesday, the overall trend of China Plastics PP warehouse receipt market was stable, with some small fluctuations. The opening was high, but the buyer's confidence in entering the market was slightly insufficient. The market was suppressed by the seller and continued to decline. The downward trend was maintained until the end of the market. On Thursday, the overall trend of China Plastics PP warehouse receipt market was poor, and the buyer's confidence was slightly insufficient. The opening price was high and the opening price was low, and the downward trend continued to fluctuate. The downward trend in the middle and rear price did not slow down, but turned into a decline and continued to decline until the end of the price. On Friday, crude oil remained at a high level and the spot market was getting hot. However, the overall performance of China Plastics PP warehouse receipt market was average, and the market confidence was still slightly insufficient. The opening price opened low and went up slightly, and then accelerated to fall again. The buyers in the middle and rear prices supported the shock upward until the end of the price

as of the end of Friday, PP warehouse receipt index closed at 1283.72, up 8.97 points compared with last Friday. The average trading volume this Sunday was 6186 tons, an increase of 319 tons over last week; The weekend order volume was 2573 batches, an increase of 91 batches compared with the previous weekend

one week's transaction details are as follows:

warehouse receipt variety

settlement price (yuan/ton)

pp warehouse receipts are all traded on this Sunday (tons if gaskets need to be replaced)

pp warehouse receipt order quantity (batch)

this weekend

last weekend

rise and fall

this week

last week

increase and decrease

this weekend

last weekend

increase and decrease

pp0804

12137

12056

81 ↑

6186

5867

319 ↑

2573

2482

91 Comprehensive analysis:

this week, the weekly K-line chart of PP index closed at the short positive line, and the 5-day moving average continued to rise, finishing below the physical center of gravity. On the K-line chart of the index day, there are three positive and two negative. In the early stage, it continued to rise, and in the later stage, it began to fall back. To the end of the week, the K-line receives the short Yang line; MACD indicator shows that there is an upward trend of low-level bulls, and the red column is enlarged. It is still possible to be bullish in the future, but it still needs to be operated with caution; KDJ index continued the trend of last week and continued to explore, subject to overbought areas; On the daily K line, the boll index was observed, the opening continued to enlarge, and the late trading entity moved on the price line, with the price line slightly upward

the European and American oil futures markets have experienced dramatic fluctuations again. U.S. crude oil inventory and gasoline inventory increased, and European and American crude oil futures instantly fell by more than $1. However, the news that the US dollar hit another record low against the euro came in the afternoon, and the oil futures market rebounded strongly as a whole. It reached an intraday high for the sixth consecutive trading day. Crude oil futures in Europe and the United States have risen by $20 in the past month. From the fundamental point of view, the relationship between supply and demand has not changed significantly; From the perspective of the US dollar exchange rate, it is accompanied by stagnation, which is out of proportion to the increase in oil prices. At the close of trading on Friday, WTI was at $110.21/barrel, down $4.94 from last Friday; Brent was at $107.55 per barrel, up $5.17 from last Friday. This week, the domestic PP market rose in the downturn, and the market improved steadily. The PP market in China Plastics City is in a good situation. Although the overall transaction is still relatively general, affected by the rising international oil price and the shortage of some goods, traders still have sufficient confidence in the future market, and some of them use this to hype, thus promoting the current price to continue to rise. In view of the current strong upstream support, the successive increase of ex factory prices by domestic petrochemical enterprises and CNPC regions, and the tight supply of some varieties cannot be alleviated for the time being, if the trading volume can be effectively coordinated, the future PP market will still operate at a high level

to sum up, in view of the numerous recent positive effects, it is expected that the continuous rise in the PP warehouse receipt market of China plastics is more likely

(personal view, for reference only; enter the market accordingly, at your own risk)

source of information: China plastics trading

note: the source of this reprint is indicated. The reprint is for the purpose of transmitting more information, and does not mean that you agree with their views or confirm the authenticity of their contents

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