Brief comment on PP warehouse receipt in morning t

2022-09-23
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On August 13, PP warehouse receipts were briefly commented in early trading

oil prices continued to fall by $1.44 on Tuesday. Today, China Plastics PP warehouse receipts mainly rose, with a large increase. The main warehouse receipt variety pp0810 opened slightly lower at 12310 yuan/ton. After opening, the price fluctuated rapidly and rose, and closed at the limit price of 12783 yuan/ton. The buyer accounts for a large proportion, and the trading atmosphere is good. The K-line chart shows that the entity has received a bareheaded and barefoot Changyang line, the position of the entity's center of gravity has increased compared with the previous trading day, and the opening of the third line of KDJ index has an accelerated expansion trend. The height of MACD green column is significantly reduced compared with the previous trading day, except for the development of designs that can solve these difficulties

in the spot market, although there is not much supply in the current market, especially the inventory of traders and downstream factories is limited, its support for the market is gradually weakening. Affected by the general drop in ex factory prices of petrochemical enterprises and the continuous decline of international oil prices, poor transactions and other factors, the market price continued to decline. It is expected that the recent PP market will continue to rely mainly on the downward trend of imports, but the decline has narrowed

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