Brief comment on closing of PP warehouse receipt o

2022-08-04
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On May 19, a brief comment on the closing of PP warehouse receipts

crude oil futures hit a new high on Friday, and closed above $126 per barrel for the first time. However, the trend of China Plastics PP warehouse receipts today was poor. Although it opened high in the early stage, it was then suppressed and shaken down by the seller. The buyer was not confident enough. It was difficult to reverse the downward trend since the 1990s, and the end of day index closed at 1394.92. The main product pp0807 opened at a low price of 13656 yuan/ton. In the early stage, the two sides insisted on the plate vibration, and the buyer's confidence in the middle and rear plate was gradually lost. In addition, the seller was dominant. At the same time, the fatigue life of the safety belt coil spring in the standard summary was required to reach more than 50000 times, and the trend of vibration decline continued until the end of the plate to close at 13565 yuan/ton. The settlement price of pp0806 today was 13623 yuan/ton, down 81 yuan/ton compared with the previous trading day. The trading atmosphere in the market today was acceptable, and both volumes remained stable

it is expected that the sinoplastics PP warehouse receipts will continue to consolidate at a high level tomorrow

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

ρ About 1.24g/cm3 Sometimes, nonferrous metals such as aluminum alloy and special metals are used to reduce weight. Note: the reprinted contents are indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with their views or confirm the authenticity of their contents

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