PP week's evaluation of stability fell slightly an

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[PP weekly review] it is difficult to be optimistic with a slight decline in stability

I. the market of this week (from October 15 to October 19):

the plastic warehouse receipt market continued to be weak consolidation in the middle of this week, the market breakthrough was weak, the continuous surge of futures oil did not significantly boost the warehouse receipt market, and the buyer's confidence was always insufficient. By 15:00 on Friday, the China Plastics warehouse receipt index closed at 1275.93, down 3.27 points from the end of last week. The trend of PP warehouse receipts this week was stable and slightly down

on Monday, the opening price of PP warehouse receipt fell slightly across the board, the disk price fluctuated and fell, and the decline trend expanded. The main varieties in the late trading closed down, the PP warehouse receipt index fell 4.55 points, and the disk trading was stable. PP rose and fell at the opening on Tuesday. After a short adjustment of the disk price, it fell sharply. At the end of the day, the index fell 0.92 points. On Wednesday, the opening price of PP fell slightly across the board, the price fell briefly in the early stage, and then gradually fluctuated and rebounded. In the late trading, the rise and fall were intertwined, and the index fell 1.69 points. The disk trading was active, the trading volume increased significantly, and the order volume was large. On Thursday, the opening price of PP fell slightly, the early price rebounded rapidly, and most varieties turned down to rise. Then the buyer was unable to continue to push up, and the price immediately fell. The main varieties closed slightly higher in the end, the index rose 0.18 points, the trading was stable, and the transaction volume decreased significantly. Over the weekend, PP warehouse receipts opened slightly higher. After a short period of consolidation in the early stage, the price tended to be stable. In the late trading, the index rose by 2.15 points, and the disk trading was OK. As of Friday's closing, PP warehouse receipt index closed at 1270.74, down 4.83 points from last Friday. The trading atmosphere was stable this week, with a slight increase in turnover compared with last week. The average trading volume on Sunday was 12107 tons, an increase of 565 tons compared with last week. The order volume at the weekend was 9333 batches, an increase of 104 batches compared with last weekend

the transaction details of one week are as follows:

warehouse receipt variety

settlement price (yuan/ton)

PP warehouse receipt average transaction this Sunday (ton)

PP warehouse receipt order quantity (check whether the oil circuit system joint is tightened)





65 ↓




55 ↓




27 ↓




33 ↓

II. Comprehensive analysis:

the weekly K-line chart of PP index this week closed the short negative line, and the entity fell narrowly below the 5-day moving average. On the K-line chart of the index day, it closed three yin and two Yang, and the disk showed a weak adjustment trend. PP fell slightly on Monday, so it became an inevitable trend to manufacture 12% Cr ingot by electroslag remelting. The index closed short of the negative line, and the resistance at the 5-day moving average was obvious. The sharp rise of oil on Tuesday was still difficult to boost the market confidence of PP warehouse receipts. The market fell steadily, the driving force for the rise was still insufficient, and the short Yin entity continued to move down. On Wednesday, PP continued to decline slightly, the index closed short of the positive line, and the entity stayed away from the 5-day moving average to seek support. On Thursday, the trend of PP warehouse receipts stabilized, and the short Yang entity extended horizontally. On Friday, the trend of PP warehouse receipts was stable and slightly upward, and the short Yin entity stood slightly above the 5-day moving average, but the disk driving force was still insufficient. In terms of technology, the opening of brin line is slightly expanded, and the price broken line is gradually moved up from breaking the lower limit to near the middle rail; In the early stage, the KDJ index went down into the oversold area, and turned up at the weekend

international crude oil futures rose strongly this week. Factors such as the weak US dollar, tight supply, fund buying and tensions in northern Iraq supported the further rise of oil prices. The prices set new records one after another. By Friday's close, WTI closed at US $88.60/barrel, up US $4.91 from last Friday, and Brent rose US $3.24 to US $83.79/barrel. In terms of PP spot, the ex factory price of domestic petrochemical is generally reduced, and the prices of some brands are reduced by yuan/ton. The market situation in various regions continues to be flat, the overall supply of goods in the market is general, and the market atmosphere is difficult to be active. Although the international oil price continues to soar, the market is still weak, the demand of downstream factories continues to be low, there are few goods received, the operation enthusiasm of traders is not high, the wait-and-see atmosphere is strong, and they have little confidence in the future market, focusing on short-term operation. The cold transaction situation is difficult to break

on the whole, the stimulation of futures oil surge is limited, PP continues to be weak and weak, and it is difficult for the market to warm up

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

all employees of Xinxin company carry out various work firmly around the company's theme and objectives. Source of interest: 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 agreeing with its view or confirming the authenticity of its content

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