The hottest PP weekly review Sinopec's listing dum

[PP weekly review] Sinopec's listing dumping market is in a deep impasse.

I. this week's market (August 4 to August 8):

Sinopec's listing this week has increased the confusion of all parties in the market about the later trend of the market. Therefore, under the influence of bad mentality, the market continued to revise the quotation downward. This week, the market mentality of PP warehouse receipts did not improve and continued to be bearish. Fortunately, the double volume increased steadily, and market participants still have hope for the future market. As of Friday's close, the PP warehouse receipt index closed at 1338.78 points, down 42.79 points from last Friday 1, through the test of repeated circulation of materials with experimental equipment. The settlement prices of various varieties of PP warehouse receipts fell sharply this week

on Monday, the crude oil price in New York market rose, and the PP warehouse orders of China Plastics continued to fall, opening low and opening high. After that, the two sides were evenly matched, and the disk was flat with horizontal shocks, and the index closed at 1365.63 at the end of the session. On Tuesday, the price of crude oil futures closed down to a three-month low after sharp fluctuations. The PP warehouse receipts of China Plastics opened low and went high, and the buyer supported the rise in the early stage. Then, due to the strong air atmosphere, the disk began to fall slightly, and the trend of concussion and decline remained until the end of the day, with the end of the day index closing at 1340.83. On Wednesday, the price of the international crude oil futures market fell for the second consecutive trading day. The PP warehouse receipt of China Plastics fell slowly and slightly, and the opening was low. Then the buyer's support accelerated upward. In the morning, the trend was good, and the disk showed a stable and slightly upward trend. In the afternoon, the disk was deserted, and the index fell slightly due to horizontal shocks. At the end of the day, the index closed at 1338.45. On Thursday, the price of crude oil futures fell, closing lower for the third consecutive trading day, because the newly released oil inventory data showed that the demand of the United States, the world's largest oil consumer, continued to have a decline in the inspection report. The PP warehouse receipts of China Plastics continued to decline slightly, opened low, and then fluctuated downward. After 10 o'clock, the market was closed at noon. In the afternoon, the market was cold, and the index fluctuated horizontally, By the end of the session, the index closed at 133, and the metal anchor rod and anchor cable clamp were installed at 3.97 points. On Friday, crude oil futures closed above US $120/barrel, ending the continuous decline trend of the previous three trading days. The PP warehouse receipts of China Plastics continued to rise slightly, opening higher, surging higher in the early stage, and then fell back to the noon close. In the afternoon, the market atmosphere was good, and the trend of small upward volatility was maintained until the end of the session, when the index closed at 1338.78

the average trading volume on Sunday was 10301 tons, up 1933 tons from last week; The order volume on Wednesday was 3021 batches, an increase of 339 batches over the 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

pp0809

12621

12995

374 ↓

10301

8368

1933 ↑

3021

2682

339 ↑

pp0810

12515

12940

425 ↓

II. Comprehensive analysis:

the weekly K-line chart of PP index closed at the short negative line this week, The 5-day moving average continued its downward trend and remained above the physical center of gravity. On the K-line chart of the index day, it closed five consecutive positives, and the disk showed a slight downward trend. To the end of the week, the K line receives the short Yang line; MACD indicator shows the downward trend of high-level bulls, and the green column is enlarged; KDJ index continues to accelerate downward, subject to oversold areas; Looking at the boll index on the daily K-line, the opening tends to be flat, and the late trading entities are walking off the price line, and the price line is slightly upward

the rise of oil prices on Thursday ended the continuous decline of this week. At present, the crude oil price has fallen 17.4% from the record high closing level of $145.29/barrel set on July 3. As demand weakened and the dollar strengthened, panicked investors began to sell crude oil futures on a large scale, leading to a reversal of market sentiment. By Friday's close, WTI closed at $120.02/barrel, down $4.06 from last Friday, and Brent fell $6.12 to close at $117.86/barrel. The domestic PP market fell sharply this week, and the decline curve was so smooth that there were no shocks and twists. Just like all bearish market attitudes, no one was skeptical of the decline after the market fell for two months. The price of T30S in local markets has rushed to 13000 yuan/ton, and there is no intention of stopping. Factors such as the decline of crude oil prices, the pressure on Petrochemical inventories, various troubles suffered by downstream enterprises, and the decline of business enthusiasm have made the PP market unable to recover or even struggle. It seems that it will take some time for PP to hit the bottom

it is expected that next week, the PP warehouse receipt market of China plastics will still be dominated by small fluctuations

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

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