The hottest PP weekly review will stop if the rebo

[PP weekly review] the rebound will end soon, and the market will be lifeless.

I. this week's market (November 17 to November 21):

this week's short and violent rebound ended, and the market fell again. On the premise that the macroeconomic environment is still bad, although petrochemicals will continue to reduce production next week, the supply of goods will not increase significantly. However, what are the functional characteristics and measurement principles of the downstream tension machine? The current situation of the downturn will not be improved, and the factory's ability to digest the source of goods is weak, which will become the fatal weakness of the market. As of Friday's close, the PP warehouse receipt index closed at 659.85 points, down 9.16 points from last Friday. This week, the settlement prices of various varieties of PP warehouse receipts rose first and then fell, continuing to decline

on Monday, crude oil futures closed lower on Friday, mainly dragged down by concerns about weakening oil demand. China Plastics PP warehouse receipts continued to rise sharply, and all rose by the limit, except for the varieties that also need to be deratization and suspension near the cable site, and the end of the day index closed at 695.79 points. On Tuesday, impacted by a series of negative economic news, crude oil futures closed at a 22 month low on Monday. China Plastics PP warehouse receipts continued to rise sharply, with individual trading stops and the rest rising by the limit, and the end of the day index closed at 730.61 points. On Thursday, crude oil futures closed lower for the fourth consecutive trading day on Wednesday, as more evidence showed that oil demand was weak and oil inventories continued to increase. China Plastics PP warehouse receipt fell sharply, all varieties closed at the limit, and the end of the day index closed at 694.61 points. On Friday, crude oil futures fell to the lowest level in three and a half years on Thursday, because the global stock market has not yet escaped the pressure brought by the economic storm. Although the expiration of crude oil futures contracts in December has led to increased market volatility, few people believe that the oil market will reverse the decline in the short term. China Plastics PP warehouse receipts continued to fall sharply, all varieties closed at the limit, and the end of the day index closed at 659.85 points

the average trading volume on Sunday was 86 tons, a significant decrease of 5180 tons compared with last week; The order volume on Friday was 1668 batches, a sharp decrease of 2378 batches compared with last 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

pp0901

5828

6150

322 ↓

86

5266

5180 ↓

1668

4046

2378 ↓

pp0902

5808

6179

371 ↓

second, comprehensive analysis:

the weekly K-line chart of PP index closed at the short negative line this week, and the 5-day average continued to decline, Cross the center of gravity of the entity. On the K-line chart of the index day, three yin and one ping were closed, and the disk showed a trend of rising and falling. The K line was leveled by the end of the week; MACD indicator shows a downward trend of low-level bulls, and the green column is slightly narrowed; KDJ index is rising at a low level, which is still subject to oversold areas; On the K-line of the day, the BOL index was observed, and the opening was narrowed. The late trading entity moved in the middle of the price line, and the price line moved flat

crude oil futures fell to the lowest level in three and a half years on Thursday, because the global stock market has not yet escaped the pressure brought by the economic storm. Although the expiration of crude oil futures contracts in December has led to increased market volatility, few people believe that the oil market will reverse the decline in the short term. Although the crude oil futures contract in December fell below the 2007 low of $49.90 per barrel in early trading, traders are more concerned about the more active January contract, which also suffered a heavy blow near the close. With the increasing number of negative economic news, it is expected that the new January contract will continue the downward trend of the old contract. By Friday's close, WTI closed at $49.62/barrel, down $8.62 from last Friday, and Brent fell $3.91 to $48.08/barrel. In this period, the decline of PP market is full, and the market decline continues. This week, the PP spot market continued to rebound weakly, and the quotation fell rapidly. At the beginning of the week, the market continued to rise, and the market expected Petrochemical prices to rise. Prices remained high and were closed. The market price once rose to yuan/ton (general drawing). But since Tuesday afternoon, as the dust of Sinopec's price rise settled, the market lost the factors that could be hyped, and the atmosphere gradually cooled down. Merchants actively ship goods and constantly seek deals at low prices, but the downstream is bearish again, and the intention to receive goods is thin, which leads to the failure of insufficient oil discharge after the starting of the oil pump in the pendulum impact test. The reasons are as follows: weak

on the premise that the macroeconomic environment is still bad, although petrochemicals will continue to reduce production next week, the supply of goods will not increase significantly. However, the current situation of sluggish downstream demand will not be improved, and the factory's ability to digest the supply of goods is weak, which will become the fatal weakness of the market. It is expected that the PP warehouse receipt market of China plastics will continue the decline of this week and continue to fall deeply next week

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

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