On September 22, 2009, China Plastics warehouse re

2022-05-19
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On September 22, 2009, China Plastics warehouse receipt PP market brief comment

China Plastics price index fell 0.27 points to 939.07 points, and China Plastics warehouse receipt index rose 1.87 points to 884.4 points

I. upstream Review

on Monday (September 21), the settlement price of West Texas light oil futures in October on the New York Mercantile futures exchange was $69.71 a barrel, down $2.33 from the previous trading day, with a trading range of 68 20 dollars; London Intercontinental Exchange Brent crude oil November futures settled at $68.69 a barrel, down $2.63 from the previous trading day, with a trading range of 68 $45

Far East propylene closed at USD/T FOB Korea on Monday, flat. European propylene closed at euro/ton FD northwest Europe and euro/ton CIF northwest Europe, with a stable trend. Us propylene closed at 52 625 cents/pound, up 0.5 cents

II. Fundamental news

① spot market:

the overall performance of PP market is poor, the mentality of merchants is poor, and goods rejection at low prices occurs from time to time. Due to the low settlement price of petrochemical, market participants lack confidence in the future market and are still bearish. Although the price has dropped again and again, the terminal demand has not been stimulated, and the trading on the floor is still light. The latest mainstream quotation of domestic copolymers in Yuyao plastic city is yuan/ton, and the mainstream quotation of imported copolymers is yuan/ton

② dynamics of China Plastics spot Mall:

at noon today, the listing of PP in China Plastics spot mall was generally stable, the quotation of a few brands was adjusted, mainly downward, ranging from yuan/ton, and individual brands fell by 800 yuan/ton

P

the main variety pp0911 opened low and went low. The market rose rapidly, breaking through yesterday's settlement price. Since then, the quotation trend has been stable, with a slight oscillation and extension. At the end of the trading, it suddenly rose and closed up in the middle. By the end of trading, pp0911 closed at 9300 yuan/ton, up 88 yuan/ton, and the daily K line closed at the positive line

IV. future forecast

in terms of spot goods, the atmosphere of PP market is still bleak, and the surface of plastic parts is prone to wrinkle patterns by taking multiple measures to play the role of market players such as venture capital;, Not many deals. Business sentiment is even lower under the impact of the weak upstream. The market supply is general, but there is no hope of receiving goods downstream, which will force the PP offer to fall further. In the later stage, the market may continue to decline slightly. In terms of warehouse receipts, PP warehouse receipts rebounded from the bottom today, the market rose gradually, and the rebound was OK. It is expected that the market consolidation will be the main trend in the later stage

note: the reprinted contents are indicated with the source. The reprint is for the purpose of transmitting more information and does not mean to agree with their views or confirm the authenticity of their contents

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