A brief comment on PP warehouse receipts in mornin

2022-08-16
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On September 3, PP warehouse receipts were briefly commented in early trading

oil prices plummeted by $5.75 on Tuesday. Today, China Plastics PP warehouse receipts continued to wipe clean the appearance of the whole line and fell, but the surface was green. The main warehouse receipt variety pp0811 opened significantly lower at 12400 yuan/ton, and the market rebounded after the opening, but the market fell again after 10:30. The lowest price was the same as the opening price of Xiao Yaqing, director of the SASAC, and the latest closing price was 12430 yuan/ton. The seller accounts for a large proportion, and the trading atmosphere is not good. The K-line chart shows that the entity has received a short positive line of the upper shadow, the position of the entity's center of gravity has decreased compared with the previous trading day, and the opening of the third line of KDJ index is downward, with a trend of convergence. The opening of the brin line is expanded, and the price line is close to the off track

in the spot market, the market continued to weaken, and the general material drawing fell below 13000 yuan/ton. The continuous downturn in demand has provided sufficient conditions for the further decline of the market, and the price policy of petrochemicals is the direct driving force for the continued decline of the market

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