Hottest December 10, 2009 China Plastics warehouse

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On December 10, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index fell 4.07 points to 1008.79 points, and China Plastics warehouse receipt index fell 7.78 points to 946.47 points

I. upstream review

on Wednesday (December 9), the hardware of West Texas light oil January futures settlement experimental machine on the New York Mercantile Exchange was updated for a long time. The calculation price was $70.67 per barrel, down $1.95 from the previous trading day, with a trading range of 70 $87; The settlement price of January Brent crude oil futures on the London Intercontinental Exchange was $72.39 a barrel, down $2.80 from the previous trading day, within the trading range 19 dollars

Far East propylene closed at USD/ton FOB South Korea on Wednesday, up $10/ton. European propylene closed at euro/ton FD northwest Europe and euro/ton CIF northwest Europe, with a stable trend. Us propylene closed at 47 755 cents/pound, down 0.375 cents

II. Fundamental news

① spot market:

pp market has not improved, oil prices have fallen, and business offers continue to decline. The market mentality has been continuously impacted, and traders' shipping intention has significantly improved. However, Sinopec has not yet issued a reduction policy, and the cost still supports the quotation of the whole market. Based on the mentality of buying up rather than buying down, downstream users are still in a wait-and-see situation, and transactions are generally weak. Yuyao plastic city reported yuan/ton for the latest domestic copolymers and yuan/ton for imported copolymers

② dynamics of China Plastics spot Mall:

the listing of PP in China Plastics spot mall at noon today, and the quotation of some brands has been adjusted, with a range of yuan/ton

III. technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order volume







pp1tpe industry is gradually entering an innovation period 003







opened today. Due to the impact of oil prices falling for five consecutive days, PP warehouse receipts opened low in the middle, In the early stage, the market oscillated and extended slightly, and the amplitude of entering the mid market narrowed, and the trend was stable. At 11:30 a.m., the transaction ended, and the PP warehouse receipt index fell 6.53 points to 1094.22 points. In the afternoon opening, the warehouse receipts fell slowly, and closed down in the late afternoon. The final PP warehouse receipt closed at 1092.19 points, down 8.56 points or 0.78% from the previous trading day. The K line of the index day has passed the examination. The cross hairs of the experimental machine can be operated in the front, the entity jumps down, the MACD index continues to fall, the green column increases, the KDJ index goes down and enters the oversold area, the opening of the BOL line is slightly enlarged, and the price line is significantly moved down. Today's trading volume is average, with 1619 batches of trading volume and 3841 batches of ordering volume

the main variety pp1003 opened low and stabilized, and the market level oscillated, with a relatively small amplitude. In the afternoon, the market suddenly fell, and the decline in quotation expanded. There was a slight recovery in the late trading, and the price fell sharply. At the end of the session, pp1003 closed at 10165 yuan/ton, down 106 yuan/ton, and the daily K line closed at the meteor line

IV. aftermarket forecast

crude oil fell to a new low in two months, and plastic market investors panicked. Not only the spot level quotation fell disorderly, but also plastic and PP warehouse receipts fell significantly. In the short term, the potential positive factors in the market are limited, and the weakness may continue, Keep short thinking "we rely on word-of-mouth.

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