A brief comment on the PP market of China Plastics

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On May 15, 2009, China Plastics warehouse receipt PP market brief comment

crude oil futures closed higher on Thursday. The weak dollar trend and the rise of the stock market pushed the oil price to rebound in the late trading. The settlement price of June light sweet crude oil futures contract on the New York Mercantile Exchange rose 60 cents, or 1%, to $58.62 a barrel. The settlement price of Brent crude oil futures contract on ICE Futures Exchange fell 658 It can realize the fast/slow rise and fall adjustment of the beam when the sample is clamped, down 1.1% to US $56.69 per barrel

the trading atmosphere in PP market today is cold, the market quotation is stable, and the transaction price is negotiable, but the negotiable range is not large. The psychology of selling goods at low prices has increased, petrochemical continues to stabilize the ex factory price, and the mainstream market price is still supported by costs. The market mentality suffered from the long-term negative decline of the market, the merchants' profits were difficult to realize, and they lacked confidence in the future market.

today, the PP warehouse orders of China Plastics opened higher, the buyer's support accelerated in the early stage, and then the seller put pressure on the market, which was suppressed and vibrated downward, and the trend of concussion and slight decline was maintained until the end of the session index closed at 1022.07. Pp0908, the main product, opened high at 9100 yuan/ton. After a slight fall in the early stage, it was strongly supported by the buyer to accelerate its rise to the high level. The two sides in the middle and front markets faced a horizontal range shock, and then the middle market seller's share of the superior market was suppressed and fell sharply. The buyer supported again in the late market, and the market turned from decline to rise, and ended up at 9080 yuan/ton. The settlement price of pp0908 was 9085 yuan/ton, up 12 yuan/ton from the previous trading day. The daily index closed at the short negative line, and the 5-day moving average continued to decline, finishing above the physical center; KDJ index fell at the same time, and production costs fell, subject to oversold areas; The opening of BOL line is narrowed, and it runs on the medium rail transit, and the price is broken line and level. The trading atmosphere in the market today was general. The trading volume increased compared with the previous trading day, and the order volume decreased slightly

it is expected that in the near future, if the shock of Zhongsu PP warehouse receipts has fallen slightly, you should first check whether the installation of the experimental machine is horizontal

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

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