A brief comment on the PE market of China Plastics

On November 13, China Plastics warehouse receipt PE market brief comment

I. brief comment on linear warehouse receipt:

today, linear warehouse receipts fell sharply after a sharp jump in the sky, with large price fluctuations in the early stage and an oscillatory downward trend in the middle and late stages. 11: The linear warehouse receipt index closed at 1351.78, down 0.78 points from the previous trading day. In terms of trading dynamics, today, both parties on the market actively placed orders, trading was active, and the volume of transactions was huge, hitting a new high in three months. On the 30 minute K-line chart of the index, one long line, two short lines and three yin lines are received in turn today, and the physical position gradually drops. Check whether the power supply is normally low

ll0701 back today, after the fuel tank opened at a flat level, the price rose in the early stage, with the highest price of 12760 yuan/ton. Later, the seller suppressed the price oscillation, and the closing price was 12620 yuan/ton, down 48 points from the previous trading day. On the market, today, the two sides compete fiercely, with large volume of transactions, and the buying is slightly dominant. On the K-line chart of the price day, the upper shadow is short and negative, and the center of gravity moves down to below the 5-day moving average

II. Brief comment on HDPE resin warehouse receipts:

today, HDPE resin warehouse receipts opened higher and went lower. The medium-term price oscillation rebounded, and the late index closed at 976.38 points, down 0.30 points from the previous trading day. On the K-line chart of the index, the medium Yang line is hanging today, and the physical center of gravity is still above the moving average system

hd0612 opened low and went low. In the late stage, the price rose sharply, closing at 12700 yuan/ton, up 162 points from the previous trading day, with a range of 1.29%. On the K-line chart of the price day, the lower shadow Changyang is closed, and the moving average is arranged in a long line

III. comprehensive analysis:

last Friday, international crude oil closed down, WTI's recent month oil contract fell by $1.57 and returned below $60/barrel, while the upstream monomer Asian ethylene was spread to be positive. In terms of spot goods, the ex factory price of petrochemicals was basically stable, and some brands rose. The PE market in Yuyao plastic city improved, and the overall market showed a steady upward trend. On the whole, there are fundamental hot spots, and the warehouse should be shut down for inspection today; In case of failure during operation and failure to operate, the time sheet needs to be inspected is the adjustment release after the sharp rise, so the future market deduction deserves close attention

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

source of information: China plastics trading

note: the source of this reprint 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