A brief comment on the LLDPE market of China Plast

2022-08-16
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On December 19, China Plastics warehouse receipt LLDPE market brief comment

I. Market Overview:

the international crude oil price fell for four consecutive days. The LLDPE warehouse receipt market continued to be bearish, the decline was difficult to stop, opened low and walked low, the intraday index fluctuated downward, the buyer was weak, and the late decline remained. The LLDPE warehouse receipt index closed at 1417.83 points, down 8.16 points from the previous trading day, closed at the lower center of gravity of the positive line, and the 5-day moving average, with an enlarged range, The opening of the brin line shrinks, the KDJ index slowly descends, and continues to operate in the oversold area. The green column of the MACD index enlarges significantly. The disk situation: the overall market continues to decline, the market trading is stable, and the intraday sales volume is relatively high. 17. Control function: it has many constant speed control methods, many buyers close their positions, and some sellers give back in the short term, and there are many. Step 1: check the displacement sensor of the material tension machine, take advantage of the situation to build positions, and the transaction is general, The double volume increased slightly compared with the previous trading day

II. Analysis of main varieties:

ll0801 opened slightly low at 13330 yuan/ton, and the intraday price trend was relatively stable, showing a horizontal narrow consolidation. At the end of the day, the settlement price closed at 13334 yuan/ton, down 10 yuan/ton from the previous trading day, and closed at the negative line. The center of gravity fell. The 5-day moving average slowed down and continued to decline. The KDJ index fell, which may be caused by the vibration caused by the insufficient number of brackets. The green column of MACD index was still enlarged, and the transaction was poor, Both quantities have small shrinkage

ll0803 opened low with a jump of 13350 yuan/ton. The intraday price fluctuated and fell slowly. At the end of the session, the settlement price closed at 13355 yuan/ton, the daily K-line closed at the small Yin line, the KDJ index reversed and fell, and the amplitude increased. The green column of MACD index continued to expand, and both volumes increased slightly

III. comprehensive analysis:

international oil prices rose in early trading after Turkish troops invaded Iraq on Tuesday. At the same time, the expectation of the decline of U.S. crude oil inventory also ignored the authenticity of the data, which exacerbated the market tension. However, the expiration of crude oil futures in January and the continuous growth of physical inventory, crude oil futures began to fall back in the afternoon. As of the close, WTI and Brent closed at $90.49 and $90.12/barrel, down $0.41 and $1.17/barrel respectively; In terms of spot goods: the market atmosphere is general and the performance is different. Affected by the shortage of goods and hype, the quotation in individual markets rises. On the whole, there are still signs of negative decline. The quotation for the shortage of goods in the Central Plains market is slightly higher. It is reported that some contractors have not released goods today, and the market source of goods is not much. According to the reflection of traders, the outsourcing plan of Central Plains Petrochemical this month has not been carried out. At present, Central Plains Petrochemical has too much inventory, and it is expected that petrochemicals will release less goods to contractors in the near future, Mainly to ensure the delivery volume, the current quotation of 7050 excluding tax is 12740 yuan/ton. On the whole, there is a lack of good news in the market recently, and it is expected that LLDPE warehouse receipts may still have downward space in the future

(personal view, for reference only; based on this, enter the market 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 to agree with its views or confirm the authenticity of its content

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