The hottest weekly review of PP crude oil supporte

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[PP weekly review] crude oil supported petrochemicals to raise PP warehouse receipts, surging higher

I. this week's market (from May 31 to June 5):

the PP market rose as a whole this week, ending the long-standing stalemate and decline. This week's market rebound began at the end △ vs=vsr_ The afternoon festival of VST (4) began with the improvement of mentality brought by the sharp rise in oil prices. However, as the rise of oil prices flattened or even fell, the source power supporting the rise of the market gradually disappeared, and the supply of high price goods has been suppressed by sluggish demand. Therefore, the market is in urgent need of a weak rise near the weekend, gradually stabilizing, and the quotations in some regions even fell slightly. In the process of market rise this week, the price of copolymerization has also increased significantly, and petrochemicals have also continuously raised the exit price of copolymerization products. Affected by the sharp rise of crude oil, the PP warehouse receipt market of Zhongsu rose in shock this week, and the market began to pick up compared with last week. If the market trading atmosphere lost these forms and documents, the atmosphere began to rise, and the double volume increased greatly. As of Friday's close, the PP warehouse receipt index closed at 1061.44, up 70.29 points from last weekend. This week, the settlement prices of various varieties of plastic PP warehouse receipts began to rise

on Sunday, China Plastics PP warehouse receipt was pulled to the trading limit by the buyer at the opening, and then the disk became cold and flat horizontally. However, there was no relevant standard in ISO standards, national standards and verification regulations, and the final index closed at 1020.63

on Monday, China Plastics PP warehouse orders opened higher and higher. After the buyer's support accelerated in the early stage, the rise remained unabated. The middle and late session continued to soar, and the upward trend of volatility remained until the end of the session, when the index closed at 1039.62. On Tuesday, China Plastics PP warehouse orders opened high and went low. After the sharp opening in the early stage, the seller suppressed and accelerated the decline. The trend of the mid and late market was slow, with a slight horizontal shock and a flat move. In the late market, it fell slightly, and the end of the market index closed at 1042.12 points. On Wednesday, the opening PP warehouse receipts opened low and went low. In the early stage, they continued to fall in the doldrums. After that, the buyer supported a strong rebound, which turned into an upward trend in the previous session, and the upward trend in the mid session continued. At the end of the session, the PP warehouse receipts closed at 831.78 points, up 2.91 points or 0.28% from the previous trading day. On Thursday, the opening PP warehouse receipt opened low, and the seller's repression accelerated in the early stage. After that, the buyer's support rose to the intraday shock level. In the afternoon, the disk continued to be depressed, and the shock fell slightly. At the end of the day, the PP warehouse receipt closed at 1043.65 points, down 1.38 points from the previous trading day, or 0.13%. On Friday, the opening PP warehouse receipt opened higher and went up. After the buyer's support was significantly higher in the early stage, it fluctuated upward, and then the disk became colder. The high level fluctuated slightly and went horizontally. At the end of the session, the PP warehouse receipt closed at 1061.445 points, up 17.79 points or 1.71% from the previous trading day

the average trading volume on Sunday was 7182.5 tons, a decrease of 247.5 tons over the weekend; The order volume over the weekend was 5835 batches, an increase of 547 batches over the previous weekend

the transaction details of a week are as follows:

warehouse receipt variety

settlement price (yuan/ton)

PP warehouse receipt average transaction this Sunday (ton)

PP warehouse receipt order quantity (batch)

this weekend

last weekend

rise and fall

this week

last week

increase and decrease

this week

last week

increase and decrease




555 ↑



247.5 ↓



547 ↑




641 ↑

2 Comprehensive analysis:

this week, the weekly K-line chart of PP index closed at the Changyang line, and the 5-day moving average began to rise, finishing below the physical center of gravity. On the K-line chart of the index day, three positive and three negative were closed, and the disk showed a low-level continuous upward trend. At the end of the week, the K line closed at the short Yang line; MACD indicator shows the upward trend of high-level bulls, and the red column is enlarged; KDJ index is upward, with an intersecting trend, and is still subject to oversold areas; On the daily K-line, the BOL index was observed, and the opening was enlarged. The late trading entity moved on the price line, and the price line tilted upward

the settlement price of crude oil futures market hit a seven month high on Thursday, as Goldman Sachs Group predicted that the recent rise in oil prices was only the beginning of a larger rise in the future. Goldman Sachs analysts predict that considering that the economic recovery will drive up crude oil demand, crude oil futures will reach $85 a barrel by the end of 2009 and $95 a barrel by the end of 2010. Goldman Sachs is one of the largest commodity brokerage firms in the world, and its forecast reports tend to drive oil prices higher. One analyst's prediction of $200 oil price led to the record high oil price in July last year. Goldman Sachs' forecast made investors who were optimistic about the economy quickly withdraw their funds from safe haven investments such as the US dollar and invest in risky assets, including crude oil. It took only one day for oil prices to rebound from the decline caused by the unexpected rise in U.S. oil inventories released by the U.S. Department of energy and weak gasoline demand during the Memorial Day holiday. Goldman Sachs predicts that the energy shortage situation may appear again. This expectation pushed the oil price to quickly recover the lost ground on Wednesday and push forward towards $70 a barrel again. However, analyst Tim Evans said that in fact, there is no strong market foundation to explain this. By Thursday's close, WTI closed at $68.81/barrel, up $3.73 from last Friday, and Brent rose $4.32 to close at $68.71/barrel

it is expected that the PP warehouse receipt market of China plastics will continue to rise next week

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

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