Brief comment on China Plastics warehouse receipt

  • Detail

On November 8, China Plastics warehouse receipt LLDPE market brief review

I. Market Overview:

affected by the fall in international oil prices on Wednesday, today LLDPE warehouse receipt ended the previous days' gains, rebounded and fell, opened slightly lower, the front index fell sharply and then slightly recovered, and the middle and back indexes fell again under the pressure of the strong forces of the seller. The intraday closed down. The LLDPE warehouse receipt index closed at 1422.53 points, down 3.30 points compared with the previous trading day, The K-line of the index closed at the small negative line on the day, the 5-day moving average rose below the entity, the opening of the brin line was enlarged, and the KDJ index fell, but the MACD red column was basically reduced for nothing. The disk situation: the trading was stable, the intraday buying volume was relatively large, many sellers fled, and the buyers took advantage of the bargain hunting. Some sellers took advantage of the situation to build a position, with a turnover of 1850 tons, a decrease of 390 tons compared with the previous trading day, and a small reduction in orders

II. Analysis of main varieties:

ll0712 has a low trend. After the intraday price fluctuates and goes down, if the demand takes more complex parameters, it will rise slightly under the weak push of the buyer, but the power is not enough. The middle and rear prices continue to fall sharply, and the final price fell. The settlement price closed at 13263 yuan/ton, down 136 yuan/ton compared with the previous trading day. 33 projects have formulated industrial trial production plans. The daily K line is subject to the small negative line, the 5-day average line rises, and the MACD red column shrinks, The KDJ index was closed at the dead cross, the trading volume decreased significantly, and the order volume decreased slightly

ll0801 opened low and went low. After the price of the front disc fell slightly, it immediately reversed and rebounded. The intraday price was relatively stable and fluctuated slightly. The middle and rear discs fluctuated under the pressure of the seller. The final disc closed down. The settlement price closed at 13360 yuan/ton, down 38 yuan/ton compared with the previous trading day. The daily K-line closed at the small negative line, the 5-day moving average rose, the KDJ index closed at the dead fork downward, the MACD red column shrank, the trading volume shrank slightly, and the order volume increased slightly

III. comprehensive analysis:

affected by the lower than expected decline in U.S. crude oil inventory and the decline in demand, the international oil price fell back on Wednesday. WTI and Brent closed at 96.37 and 93.24 dollars/barrel, down 0.33 and 0.02 dollars/barrel respectively; In terms of spot goods, the market rose slowly. North China rose slightly today, East China was basically stable, and South China fell slightly. Some traders closed their markets to watch the market. It is expected that consolidation will be the main trend over the weekend. In general, affected by crude oil, the market fell slightly, but the overall situation is good. It is expected that LLDPE warehouse receipts may be subject to shock consolidation in the near future

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

source of information: China plastics trading

note: the source of this reprint is indicated. The reprint is for the purpose of transmitting more information, and does not mean that you agree with their views or confirm the authenticity of their contents


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