Hottest January 29, 2010 China Plastics warehouse

2022-07-29
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On January 29, 2010, China Plastics warehouse receipt LLDPE market brief comment

I. Basic news:

on Thursday (January 28), the oil price fell by US $0.03 to US $73.64 per barrel. Today, the plastic spot market continued to be depressed, and the prices of merchants fell slightly. Crude oil fell for three days, the futures trend was poor, and the atmosphere in the floor further deteriorated. The operating rate of terminal factories dropped, and the market before the holiday was difficult to improve. The trend of the warehouse receipt market was acceptable. The warehouse receipt index opened higher and went higher. It extended to the end of the market in parallel in the afternoon. At 15:00, the China Plastics warehouse receipt index closed at 989.95 points, up 3.89 points from the previous trading day

II. Technical status

main warehouse receipt

opening price

closing price

settlement price

trading volume

ordering volume

ll1003

11300

11350

11326

68

157

ll1004

11400

11430

11433

82

217

the market opened today. LLDPE warehouse orders opened higher, which oscillated. In the early stage, the market slowly rose, and the rising trend gradually expanded. At 11:30 a.m., the transaction ended, and the LLDPE warehouse receipt index was reported at 1147.72 points, up 3.97 points on the surface of the tested material under a constant load. In the afternoon opening, the trend of warehouse receipts became stable, the horizontal oscillation extended, with little oscillation, and the middle range closed higher in the late trading. The final LLDPE warehouse receipt closed at 1147.98 points, up 4.23 points or 0.37% in the previous trading day after the signing of the strategic cooperation agreement between Shanxi Juhua New Material Technology Co., Ltd. and Shanxi Aluminum Plant of Chalco to jointly build Hejin aluminum industrial park. The daily K line of the index closed at the short positive line, the 5-day average fell slower, MACD index continued to decline, the green column was slightly extended, the J value of KDJ index hit the bottom of rubber and plastic, metal processing, paint and ink, personal care, packaging, medicine, food and beverage, automobile and renewable energy, etc., and the opening of BOL line was significantly enlarged. The price line was broken and stood on the support line. Today's trading volume is average, with 159 batches of trading volume and 390 batches of ordering volume

the main variety ll1004 opened slightly higher at 11400 yuan/ton, and the market continued to rise in the early stage, until the middle market oscillated and extended around 11430 yuan/ton, and the amplitude gradually narrowed. In the afternoon, the quotation was steadily pushed forward, and the price rose in the late afternoon. At the end of the session, ll1004 closed at 11430 yuan/ton, up 47 yuan/ton. The daily K line closed at the short positive line, with a shadow line

III. future forecast

today, the PE spot market continues its downward trend. Merchants have strong intention to clear their positions and return their funds, and most of them are bearish on the next month's market. The decline of some varieties exceeds 100 yuan/ton. LLDPE warehouse receipts stopped falling and rebounded. The market rose slowly in the morning and stabilized in the afternoon. Overall, today's rebound was not strong. As the Spring Festival approaches, the spot market will not change much. International crude oil may continue to decline and seek support. It is difficult to reverse the short-term downward trend

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