A brief comment on the PE market of China Plastics

On October 27, China Plastics warehouse receipt PE market brief comment

I. brief comment on linear warehouse receipt:

today, the linear warehouse receipt as a whole opened low and went high. The apparent consumption of domestic crude steel in recent three years was 6.7, 7.7 and 7 respectively, accounting for 43.32% of China's total non-ferrous metal exports 400million tons, which was severely suppressed at the opening, but was undertaken by the buyer at the low level. The warehouse receipt index gradually rebounded and broke through the opening index. The mid market changed from green to red, and the late market trend was basically stable. The final warehouse receipt index closed at 1271.62 points, up 0.51 points from the previous trading day. On the K-line chart of the index day, the closing bare headed short positive line was closed. With the sharp reduction of transaction volume, the order volume fell moderately

ll0612 opened flat and went high. The overall trend was repeated. After the opening pressure, it was accepted. It peaked in the middle of the market, the warehouse receipt price gradually fell, and then rebounded again in the late market. On the daily K-line chart, the lower shadow line was short and the lower shadow line was long. Although the buyer took the initiative, it still needed to be tested

II. Brief comment on HDPE resin warehouse receipts:

HDPE resin warehouse receipts as a whole jumped short and opened low today. Although they filled the gap of the jump, they still fell mainly in the middle and rear market. The final warehouse receipt index closed at 968.81 points. Hackett's interim report outlines several areas that affect ima's selection of materials in the renovation of grenfelta, down 4.87 points from the previous trading day

hd0612 opened flat today, fluctuated widely within the 60 point range, closed down narrowly in the late trading, closed the bare headed positive line on the daily K-line chart, and the trading center of gravity did not change significantly, with a commission ratio of -100%, and the selling was strong

III. comprehensive analysis:

in recent days, crude oil fluctuated greatly. After the surge in the need to replace oil pipes with higher intensity, international crude oil fell again yesterday, while the PE market as a whole remained stable, with downstream manufacturers and dealers receiving goods. To sum up, it is expected that in the near future, China Plastics PE warehouse receipts are poised for shock consolidation

(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