A brief comment on the PP market of China Plastics

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On May 22, 2009, the settlement price of crude oil futures fell on Thursday. Following the decline of the stock market, the market worried that the global economic downturn might last longer than many investors expected. The settlement price of light and low sulfur crude oil futures contract delivered on the New York Mercantile Exchange (NYMEX) in July fell 99 cents to $61.05 a barrel, down 1.6%, ending the rising market for three trading days. The settlement price of July Brent crude oil futures contract on the London Intercontinental Exchange (ice) fell 66 cents, or 1.1%, to $59.93 a barrel

today, the PP market quotation is slightly weaker, some sales companies continue to reduce the ex factory price, and the market bearish Psychology continues to pervade. With the arrival of the northern wheat harvest season, the operating rate of some downstream manufacturers fell. Some businesses continue to offer new low prices to ship at the bottom, with low overall demand and few transactions. Most market participants believe that there is still room for decline in the future

today, China Plastics PP warehouse orders opened low and opened high. After the shock accelerated and rose, they walked horizontally in the session. The middle and rear disk sellers suppressed the shock and fell. Although the buyer's meteorite: the non-1 feeling was supported, but due to the poor market mentality, it continued to decline sharply, and the end of the session index closed at 991.71. Pp0908, the main product, has developed a fully electric injection machine numerical control device with independent intellectual property rights, a special numerical control device for electro-hydraulic servo injection machine, a servo drive system of various specifications and an exchange permanent magnet synchronous servo motor with a low opening of 36 yuan/ton. In the middle and early stage, it vibrated in a narrow range horizontally, accelerated to fall in the afternoon, and rose slightly in the buyer's support in the late session. At the end of the session, it closed at 878 yuan/ton in the normal operation and learning process. The settlement price of pp0908 was 8810 yuan/ton, down 94 yuan/ton from the previous trading day. The PP daily index closed at the short negative line, and the aluminum rope tensile testing machine on the 5th was an average of the tensile testing machine, which continued to decline, finishing above the center of the entity; KDJ indicators continue to decline, subject to oversold areas; The opening of BOL line continues to enlarge and moves along the middle and lower rails, and the price is broken down. The trading atmosphere in the market today is general. The trading volume increased slightly compared with the previous trading day, and the order volume decreased

it is expected that the PP warehouse receipts of China plastics will also decline in a weak shock next week

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

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