A brief comment on the HDPE market of China Plasti

2022-08-16
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On December 14, China Plastics warehouse receipt HDPE market brief comment

I. Market Overview:

oil prices sharply corrected on Thursday, and pp/lldpe warehouse receipts also fell along with oil in the morning. Supported by petrochemical ex factory prices and shortage of goods, HDPE market turned upward, showing a volatile upward trend, and the increase was acceptable. In terms of transaction details, the trading atmosphere today is general, with a slight increase in trading volume and a slight reduction in order volume. The HDPE index closed at 1121.47 today, up 8.08 points from the previous trading day. From a technical point of view, a medium Yang line is collected from the K-line chart of Japan; The entity quickly broke through the 5-day moving average; KDJ index rose slightly; There is no obvious change in the opening of brin line; MACD indicators showed a slight increase in the red column

II. Analysis of main varieties:

today's Jinmin 3D printing materials rely on its excellent performance and leading technology. Hd0801 opened slightly higher at 13710 yuan/ton. In the early stage, it was driven by the buying order, and the rise rate was fast. Then the trading order began a protracted tug of war, and the market was deadlocked. It began to make consolidation movement above 13720 yuan/ton. It hit the highest price of 13725 yuan/ton today twice in the session, but it was still unable to break through until the end of the session, The market broke through the support line of 13720 and began to decline slightly. Today's closing price was 13718 yuan/ton, up 18 yuan/ton from yesterday's settlement price. The settlement price today was 13719 yuan/ton, up 19 yuan/ton from yesterday. Technically, the daily K-line received a short positive line, and the physical center of gravity moved slightly above the 5-day moving average; KDJ index moves down slightly; The brin line continues to rise at a constant speed

III. comprehensive comments:

basically, the closing price of WTI futures was $92.25 per barrel, down $2.14 from the previous trading day. The latest closing price of ethylene in Asia was partially lowered, and the CFR's project of improving packaging costs will use the innovative high-performance corrosive aluminum alloy materials of Matt new aluminum to shipbuilding. Northeast Asia will be reduced by $5 to $per ton, and CFR Southeast Asia to $per ton

today, the ex factory price of HDPE was partially adjusted, and the individual ex warehouse price of HDPE in PetroChina Southwest was increased by 50 yuan/ton; Maoming Petrochemical HDPE granulator starts up. Today, the spot market was affected by the sharp decline in crude oil, and the quotation showed a gloomy situation. The traders' mentality was general, and the transactions were still relatively few. The low pressure in Yuyao market is generally stable, the transaction is general, and the supply of goods is not very large

at present, with the gradual digestion of some petrochemical production reduction benefits, the positive impact on the PE market is also gradually weakening. In addition, the bottom of the complex shaped components with multiple functions and customized structural performance produced last year is approaching, and some businesses withdraw funds as soon as possible to avoid risks, which has bred a profit taking mentality. Given that there are no new hot spots in the market at present, it is expected that the HDPE warehouse receipt market of China plastics may enter a high consolidation market in the short term

(personal view, for reference only; enter the market accordingly, at your own risk)

(source: China plastics trading)

note: the reprinted content is indicated with the source. 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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