Comments on plastic warehouse receipts of the hott

Comments on the plastic warehouse receipts of the treasure island exchange on April 3

the plastic warehouse receipts of the treasure island exchange reported that today, polypropylene and linear varieties rose sharply across the board. The settlement prices of pp0905 and ll0906 were 9635 yuan/ton and 9515 yuan/ton respectively, up 123 yuan/ton and 117 yuan/ton respectively compared with yesterday's settlement. A total of 2083 batches (10415 tons) were traded throughout the day, an increase of 560 batches compared with the previous trading day, and the total order volume reached 2550 batches (12750 tons), an increase of 216 batches compared with the previous trading day

upstream dynamics:

nymex5 crude oil futures reported $52.64 overnight, up $4.25. As of 15:00 on April 3, Beijing time, the latest report of May crude oil futures was $52.1, up $2.87. Ethylene monomer: FOB South Korea reported $638.0/ton, FOB Japan reported $638.0/ton. Propylene monomer: FOB Korea reported $871/ton, up $6, and FOB Japan reported $869.0/ton, up $9

polypropylene varieties:

main pp0906 opened slightly higher at the lowest point of the day, 9650, and rose in early trading with a narrow sideways range; In the afternoon, various forces surged higher and finally closed at 9900

Fundamentals:

(1) external market: CFR Far East homopolymer PP (USD/ton) rose by $10, FOB Middle East homopolymer PP (USD/ton) rose by $11, FD northwest Europe homopolymer PP (euro/ton) was flat, Fas Houston homopolymer PP (USD/ton) was flat

(2) domestic market: the PP market around Yanshan is affected by the continuous price increase of petrochemicals and the lack of resources. The price of middlemen is madly higher, with a range of yuan/ton, and there are more individual brands. Middlemen are reluctant to sell resources, and they are not in a hurry to release materials after the price increases. At the same time, the downstream also has a wait-and-see mood towards the crazy market, and both buyers and sellers in the market are not active. It is said that some merchants have offered T30S at 10000 yuan/ton

(3) manufacturer dynamics: the price of PP such as Maoming Petrochemical rose 550 yuan/ton today. Maoming Petrochemical PP plant line 1 is converted to ept30r and line 2 is converted to n-t30s

technical aspect (polypropylene continuous):

(1) price situation: the intermediate trend of shock recovery, which is in the shock upward trend in the short term; Today, high open and high go, close up sharply

(2) K-line shape and double quantity: take out a male line with bare head and bare feet. Both quantities increased significantly

(3) moving average (5,10,20), support pressure: on the daily line, the moving average system maintains a long arrangement. On the 60 minute line, it closed again on the 5-unit moving average. The reference pressure is about 10000, supporting 9500 and 9000

(4) indicators: MACD (26,12,9) shows a long shape above the zero axis on the daily line, and more above the zero axis on the 60 minute line; KD index continued to rise after the overbought zone Jincha; On the 60 minute online, the KD index continued to rise after the overbought zone Jincha

overnight crude oil soared by more than%. Affected by the continuous price hikes of Sinopec and PetroChina, the spot market quotation continues to rise sharply, with few resources. Middlemen are reluctant to sell raw materials, but these latest developments may ultimately make us use the amazing performance of super materials to be bullish in the future. Jubing warehouse receipt 0906 rose sharply today, closing at a new high, and there was still a large increase in positions. There are too many short-term technical aspects

linear varieties:

today's main 0906 opened slightly lower, rose in shock, and fell slightly in the late trading. The opening price is 9400 yuan, the lowest is 9400 yuan, the highest is 9600 yuan, and the closing price is 9540 yuan

Fundamentals:

(1) external market: some closed up on April 1. FD northwest Europe report (euro/ton), Fas Houston dollar, report (dollar/ton), CFR Far East rose $20, report (dollar/ton)

(2) domestic market: Sinopec Beijing intends to continue to rise. Today, traders around Yanshan temporarily stopped trading to wait for futures/Petrochemical trends

(3) manufacturer dynamics: up to now, the manufacturer's quotation of 234 building curtain wall continues to rise sharply, of which Daqing Petrochemical 7042 increased by 200 yuan to 9560 yuan/ton, and Qilu Petrochemical 7042 increased by 200 yuan/ton to 9600 yuan/ton. Maoming Petrochemical 7042 rose 300 yuan to 9650 yuan/ton. Yangzi Petrochemical's linear unit plans to switch production to 1802 today, and Guangzhou Petrochemical's LLDPE unit will produce 7042 on both lines. Cooperate with local vocational colleges

technical aspects (linear continuity):

(1) price situation: medium-term wide fluctuation; The short-term volatility rose and continued to rise today

(2) K-line shape and double quantity: take out the barefoot male line with shadow line. Trading volume and order volume increased slightly

(3) moving average system (5,10,20), support pressure: on the daily line, the moving average system is arranged in a divergent manner. On the 60 minute line, the moving average system is arranged in multiple directions. Reference pressure 970010000; Lower support 92009450

(4) index: on the daily line, MACD index long form; KD index high two-line entanglement. On the 60 minute line, the MACD will cross upward above the zero axis; KD indicators are tangled in overbought areas

brief analysis and suggestions:

today, linear warehouse receipts continue to rise, the price is close to the previous high, and there are too many short-term indicators; Petrochemicals in North China market continued to rise sharply. With the gradual rise of the price, traders' enthusiasm for pursuing the rise subsided. On the whole, in the early stage, multiple orders were held cautiously, with self-interest, and attention was paid to controlling high risk. (personal view, for reference only)

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