A brief comment on the market of China Plastics wa

2022-08-09
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On July 7, China Plastics warehouse receipt LLDPE market brief comment

China Plastics price index rose 7.53 points to 987.47 points, and China Plastics warehouse receipt index rose 9.65 points to 965.32 points

I. upstream review

on Monday (July 6), the settlement price of West Texas light oil futures in August on the New York Mercantile Exchange was $64.05 a barrel, down $2.68 from the previous trading day, with a trading range of 63 In order to achieve comprehensive, harmonious and sustainable development 17 dollars; The settlement price of August Brent crude oil futures on the London Intercontinental Exchange was $64.05 a barrel, down $1.56 from the previous trading day, with a trading range of 63 46 dollars

on Monday, Asian ethylene closed at USD/ton CFR Northeast Asia and USD/ton CFR Southeast Asia, unchanged from the previous day. European ethylene closed at euro/ton FD northwest Europe and dollar/ton CIF northwest Europe, both stabilizing. Us ethylene closed at 21 00 cents/pound, down 2.88 cents for a number of patents

II. Fundamental news

① spot market:

the oil price is weak, the ethylene monomer price is stable, the PE market is not affected by the negative impact, and the market continues to rise, with an increase of yuan/ton. Some petrochemical enterprises raised factory prices and restricted shipments at the same time. Businesses followed suit, and the atmosphere of speculation was diffuse. The peak season of the industry is coming, and the confidence of businesses has recovered. However, the high price transaction was obviously blocked, the downstream factories did not take much goods, and the speculative sentiment of middlemen cooled down

② dynamics of China Plastics spot Mall:

the listing price of LLDPE in China Plastics spot mall was mainly stable at noon today, and a few brands were raised, with an increase of yuan/ton

III Technical status

variety

opening price

closing price

settlement price

trading volume

order volume

ll0907

9710

10100

9959 ↑

7

45

ll0908

10100

10220

10180 ↑

17

47

ll0909

10200

10100

10193 ↑

20

52

ll0910

10350

10250

10224 ↑

5

8

quotation the Bit

yuan/ton

batch

opened today, LLDPE warehouse receipts opened higher, and the early market was consolidated in a medium range and fluctuated horizontally. After 10:00, the trend of warehouse receipts gradually stabilized, and the market fluctuated little, continuing to fluctuate in a narrow range. At 11:30 a.m., the trading ended, and the index closed at 1042.30, up 10.07 points. In the afternoon opening, there was only one hand of trading on the market, and the trend of warehouse receipts drew a straight line, ending up in the middle of the late trading. The final LLDPE warehouse receipt closed at 1042.09, up 9.86 points or 0.96% from the previous trading day. The K-line of the index closed at the lower Yin star, running above each moving average. MACD indicators are double-line upward, red column growth, and KDJ indicators continue to operate in overbought areas. The opening of BOL line is slightly enlarged, and the price line intersects with the resistance line. Today's trading volume was poor, with 49 batches of trading volume and 152 batches of ordering volume

the main variety ll0909 opened higher and went higher. The market fluctuated sharply in the early stage. After 10 days, it fell below yesterday's settlement price. Later, driven by the buyer, the quotation turned from decline to rise. In the afternoon opening, there were few transactions, and the end of the day closed up slightly. By the end of trading, ll0909 closed at 10100 yuan/ton, up 17 yuan/ton, and the daily K line closed at the long negative line

IV. in terms of spot goods, the market has not been affected by the sharp decline in oil prices, and the overall market is still slightly dominant as of December 31, 2018. Some petrochemical enterprises have raised their ex factory prices, and businesses are confident that the technical standard for building structure testing gb/t50344 (2) 004 has been improved. However, the market still needs the cooperation of downstream demand to achieve substantial improvement. In terms of warehouse receipts, today's warehouse receipts and Liansu market have accumulated more profit taking, and the resistance to the future market rise has increased, so it is appropriate to reduce the position in hand

it is expected that the LLDPE warehouse receipt market will stabilize in the later period

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