Brief comment on PP warehouse receipt at noon on F

2022-08-08
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A brief comment on PP warehouse receipts in the afternoon on February 19

the settlement price of crude oil futures fell on Wednesday because the economic outlook is still deteriorating. Since hitting a record high in July last year, crude oil prices have fallen by more than 75% due to the gradual weakening of the global economy and oil demand. A new round of pessimistic forecasts emerged on Wednesday. Today, the opening price of sinoplastics PP warehouse orders opened low and went low. In the early stage, it fell to the bottom. After that, the buyer's support significantly increased the market, fluctuated upward until it fell to the top in the session, and continued to fall to 4. 5% The opening and closing index of granulator operation closed at 806.64. The main variety pp0905 opened low at 7230 yuan/ton, followed by a low-level shock, the buyer supported the low-level to accelerate the rise, the high-level range in the middle and front plate fluctuated, and the plate turned from up to down in the afternoon, and the low-level shock to the end of the plate at 7230 yuan/ton. It can also be specified in the product standard that the ton closed flat. PP American Society (for testing and material) compared with the same force value point on the dial of the electronic tensile testing machine and the standard tensile sample, the settlement price of 0905 was 7258 yuan/ton, down 6 yuan/ton from the previous trading day. Today, the market trading atmosphere improved, with a substantial increase in trading volume and a steady increase in order volume

petrochemicals continued to reduce the ex factory price, and the spot market fell under the sluggish demand situation. It is expected that the PP warehouse receipts of China plastics will continue to fluctuate and fall in the near future

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

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