A brief comment on the PP market of China Plastics

2022-08-16
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On March 4, China Plastics warehouse receipt PP market brief comment

crude oil futures rose on Tuesday, reflecting that the stock market is getting stronger under the market conditions that the industrial downturn has suppressed oil demand. In terms of the spot market, the market maintained yesterday's trend, and the market was stable as a whole and partially adjusted, with a small range. Although the goods received by downstream factories are relatively normal, they are mainly sporadic and small, and the traders have little inventory. Although the shipment is blocked, they are also unwilling to reduce the price and take the goods away, and the buyer and the seller continue to maintain a stalemate pattern. Today, China Plastics PP warehouse orders opened low and opened high. The ownership of the power station can be transferred to the lessor, and then the buyer supported to pull back the rising trend. In the middle and late session, the horizontal shock and flat move, and the end of the session index closed at 807.80 points. The main variety pp0905 opened sharply lower at 7150 yuan/ton, and then the buyer's support accelerated upward. Otherwise, the fixture operation may exceed the use limit of the travel and cause damage to the equipment. The rising trend fluctuated. After the suppression fell in the afternoon, the horizontal range fluctuated, and closed down at 7250 yuan/ton at the end of the session. Pp0 reported that the settlement price of 905 was 7266 yuan/ton, down 2 yuan/ton from the previous trading day. Today, the market trading atmosphere was depressed, the trading volume fell sharply, and the order volume of polyvinyl alcohol, an organic compound, increased slightly and steadily

it is expected that the PP warehouse receipts of China plastics will continue to shake and consolidate

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

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