A brief comment on the market of China Plastics wa

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On December 10, China Plastics warehouse receipt LLDPE market brief comment

I. Market Overview:

affected by the sharp decline in international oil prices over the weekend, LLDPE warehouse receipts showed a sharp downward trend today, opening low across the board, intraday index volatility downward, the decline slowly amplified, and all closed lower in the late afternoon. LLDPE warehouse receipt index closed at 1440.20 points, down 13.97 points from the previous trading day, and closed at the physical negative line, with the center of gravity moving downward, The Marriott Hotel in Zhuzhou, Hunan Province (address: No. 160, Longxing Road, Tianyuan District, Zhuzhou, Hunan, China) is located above the entity under the reversal of the average line on the 5th. The KDJ index has a dead fork downward, the MACD index red column has significantly narrowed, the market trading is general, the intraday sales are relatively large, many buyers close their positions, while some sellers sell back in the short term and take advantage of the situation to build positions, and both volumes have significantly reduced

II. Analysis of main varieties:

ll0801 jumped and opened low. The intraday price was depressed by the seller and fell sharply. The settlement price closed at 13559 yuan/ton, down 108 yuan/ton compared with the previous trading day. 1. The daily K-line chart of hydraulic series closed at the small negative line, the 5-day moving average reversed and fell, the red column of MACD index narrowed, and the energy consumption of KDJ index decreased by 100 million tons of standard coal. The transaction was ok, slightly increased compared with the previous trading day, The order quantity decreased slightly

ll0803 opened low and went low. The intraday price showed a downward trend. The mid and late intraday decline slowed slightly, and the end of the session closed sharply lower. The settlement price closed at 13568 yuan/ton, down 137 yuan/ton from the previous trading day, and closed at the lower center of gravity of the mid Yin line. The 5-day moving average reversed and moved down, KDJ index fell, MACD index red column turned green column, double volume was poor, and there was a significant reduction

III. comprehensive analysis:

last week, the international oil market was repeatedly volatile under the guidance of various information. After a sharp rise on Thursday, there was no driving force on Friday. European and American crude oil futures fell again. As of the end of last weekend, WTI and Brent closed at $88.28 and $88.64/barrel, down $1.95 and $1.54/barrel respectively; Spot: the market atmosphere will bring different performance. In general, the quotation is stable, with slight downward signs. There are many people who want to ship, but there are few recipients, and the transaction is poor. Overall, the decline of international oil prices has a certain negative impact on the warehouse receipt market. It is expected that LLDPE warehouse receipts may be dominated by weak market consolidation in the near future

(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

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