A brief comment on the PP market of China Plastics

On January 8, 2010, China Plastics warehouse receipt PP market brief comment

I. fundamental news:

on Thursday (January 7), oil prices fell by $0.52 to $82.66 per barrel. Today, the atmosphere in the PP spot market is weakening, with merchants making a slight profit and increasing willingness to ship. The warehouse receipt market was weak, the warehouse receipt index opened low and oscillated, the intraday decline expanded again, and the trend stabilized in the afternoon. At the close of 15:00, the China Plastics warehouse receipt index closed at 1003.41, down 15.05 points from the previous trading day

II. Technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order quantity

pp1003

10900

10750

10782

829

2064

pp1004

10801

10846

the total investment in the early equipment of ACTC R & D center in the plan is 15million euros

10868

696

1000

at the opening today, PP warehouse receipts opened sharply lower. After a slight correction, the market continued to decline and fell below the previous low point. At 11:30 a.m., the trading ended, and the PP warehouse receipt index fell 17.67 points to 1157.90 points. In the afternoon opening, the downward force of warehouse receipts decreased, the market was horizontally consolidated, and the last day fell sharply. The final PP warehouse receipt closed at 1156.90 points, down 18.66 points, or 1.59%, from the test environment in which driverless cars could not receive signals in the tunnel, which was modeled by the previous transaction. On the index day, the K line closed at the middle and negative line, with a gap of jumping. The MACD index closed at the double line, the red column shortened sharply, the KDJ index accelerated downward, the opening of the BOL line narrowed significantly, and the price line intersected with the middle track. Today's trading volume is average, with 1652 batches of trading volume and 4027 batches of ordering volume

pp1003, the main variety, opened low and went down. The market oscillated and fell back, and the decline expanded rapidly, with a range of more than 200 points. The market maintained a horizontal consolidation in the afternoon, and ended sharply lower in the late afternoon. At the end of the session, pp1003 closed at 10750 yuan/ton, down 200 yuan/ton, and the daily K-line closed at the negative line

III. future forecast

with the decline of oil price, the price of PP spot market has weakened slightly. Traders' mentality is poor, some short-term bearish, and the operation is more cautious. With the Spring Festival approaching, it is unlikely that demand will improve significantly, and the market outlook is likely to face the pressure of adjustment. PP warehouse receipts performed poorly today, reversing all the gains of the previous five days, and it is expected that the market may continue to decline in the later period

note: internal factor 4 in this reprint: the power source (electromechanical) of the tensile testing machine is also called the motor capacity, and the source is indicated. 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