Hottest November 24, 2009 China Plastics warehouse

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On November 24, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index rose 0.23 points to 1020.7 points, and China Plastics warehouse receipt index fell 3.28 points to 982.02 points

I. upstream review

crude oil futures on the New York Mercantile Futures Exchange (NYMEX) and the London Intercontinental Exchange (ice) closed generally stable, and the rise was constrained by demand and inventory concerns. NYMEX 23 January light sweet crude oil futures contract rose slightly by $0.08 to $77.56 a barrel. Crude oil futures rose more than 3 percent to an intraday high of $79.92 a barrel in early trading as the euro soared to $1 against the dollar under the conditions of ensuring that plastic packaging materials are non-toxic, hygienic and environmentally friendly $50 psychological level. However, investors' concerns about weak U.S. crude oil demand and high inventories later pushed oil prices back. Ice 23 January Brent crude oil futures closed up $0.26 to $77.46 a barrel

II. Fundamental news

① spot market:

today's PP market quotation is generally stable, and some continue to rise slightly. With the slowdown of the rise, the market chasing up and covering positions decreased, and the downstream demand was also more wait-and-see, resulting in a poor trading atmosphere. As the low-cost supply in the early stage still exists, there is more room for negotiation of the transaction price. Due to the high ex factory price support, merchants have no intention to ship at a low price, and the market is deadlocked

② dynamics of China Plastics spot Mall:

the listing of PP in China Plastics spot mall at noon today, and the quotations of some brands have been adjusted, with ups and downs, ranging from yuan/ton

III Technical status

main warehouse receipt Intraday shocks rose slightly. At 11:30 a.m., the transaction ended, and the PP warehouse receipt index fell 0.12 points to 1125.07 points. In the afternoon, the opening situation suddenly changed, and the seller suppressed the PP warehouse receipts to accelerate the decline, with a large range, and the decline remained until the end of the session. The final PP warehouse receipt closed at 1131.19 points, down 4.00 points or 0.35% from the previous trading day. The daily K-line of the index closed at the short negative line, and the 5-day moving average continued to rise, finishing below the physical center of gravity. The MACD index showed a long upward trend, and the red column continued to shorten; KDJ index is slightly downward, the opening of three lines is reduced, and there is an intersection trend; The opening of BOL line is enlarged, and the price line is slightly downward. Today, the market trading atmosphere was low, and the replenishment of petrochemical and the high-profile rise of the spot market did not guide the good trend of the warehouse receipt market. Today, the total trading volume of PP warehouse receipts was 1360 batches, and the order volume was reported as 4253 batches

the main variety pp1001 opened low and fluctuated in the opening range. The buyer and the seller faced off, and the disk vibration tended to be flat and slightly higher. In the afternoon, the seller reversed the disk, and the confrontation between the two sides was broken in the afternoon, and the downward trend of vibration was maintained until the end of the market. At the end of the session, pp1001 closed at 10261 yuan/ton, down 131 yuan/ton, and the daily K line closed at the long negative line

IV. future forecast

under the market with many external positive factors, the reverse decline of China Plastics PP warehouse receipts was larger than the market expected, but under the current situation of generally higher prices, the trend of technical callback of PP warehouse receipts is obvious. Under the market conditions of petrochemical and spot market prices rising frequently, the upward trend of China Plastics PP warehouse receipt market in recent shocks is still the main theme

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