A brief comment on the LLDPE market of China Plast

2022-08-16
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On December 3, China Plastics warehouse receipt LLDPE market brief comment

China Plastics price index rose 1.12 points to 1012.27 points, and China Plastics warehouse receipt index fell 1.80 points to 972.34 points

I. upstream review

on Wednesday (December 2), the settlement price of West Texas light oil futures in January on the New York Mercantile Exchange was $76.6 a barrel, down $1.77 from the previous trading day, with a trading range of 76 $59; The settlement price of January Brent crude oil futures on the London Intercontinental Exchange was $77.88 a barrel, down $1.47 from the previous trading day, with a trading range of 77 $67

on Wednesday, Asia ethylene closed at USD/ton CFR Northeast Asia and USD/ton CFR Southeast Asia (up $20/ton). European ethylene closed at euro/ton FD northwest Europe (up 11 euros) and dollar/ton CIF northwest Europe (up 11 dollars). Us ethylene closed at 35 255 cents/pound, up 0.25 cents

II. Fundamental news

① spot market:

pe market quotation is stable, and the market is difficult to improve due to the decline of crude oil and futures. Merchants are still actively shipping, maintaining yesterday's price. At present, petrochemical prices are high, which gives the market some support. The purchase intention of downstream users is obviously weak, and the transaction is deadlocked. The latest quotation of Yuyao plastic city is that the wire drawing material is yuan/ton. 6. At a certain adhesion area and a certain temperature, the tape retention testing machine injects plastic yuan/ton, film material yuan/ton, and hollow material yuan/ton

② dynamics of China Plastics spot Mall:

the listing of LDPE in China Plastics spot mall on January 11 today afternoon, and the quotation of some brands was adjusted, ranging from yuan/ton

III. technical status

main warehouse receipts

opening price

closing price

settlement price

trading volume

order volume

ll1001

10925

11150

10936

50

156

ll1003

11180

11250

11186

82

169

opening today, LLDPE warehouse receipts opened slightly lower, and the early market continued to fall to the intraday low of 1128.17, after which the market began to rise, There was a rebound momentum. At 11:30 a.m., the transaction ended, and the LLDPE warehouse receipt index fell 2.45 points to 1131.32 points. In the afternoon opening, the market oscillated slightly, basically remained stable, with little change, and closed down slightly in the late afternoon. The final LLDPE warehouse receipt closed at 1131.74 points, down 2.03 points or 0.18% from the previous trading day. The daily K line of the index closed at the T-line, the 5-day moving average continued to decline, the MACD index fell on both lines, the green column increased, the KDJ index hovered at a low level, the J value rose, the opening of the BOL line narrowed, and the price moved horizontally. Today's trading volume was good, with 147 batches of trading volume and 350 batches of ordering volume

the main variety ll1003 opened low and went low, the market bottomed out and rebounded, with a slight oscillation and went high. In the afternoon, the opening quotation was volatile, with ups and downs alternating, and closed up slightly in the late afternoon. By the end of trading, ll1001 closed at 11250 yuan/ton, up 21 yuan/ton, and the daily K line closed at the short positive line

IV. aftermarket forecast

petrochemical enterprises are listed for sale again. Businesses are pessimistic about the aftermarket. The flat demand in the downstream market makes it difficult for prices to rise. At present, demand has become the biggest obstacle to the continued recovery of the market. As long as the transaction is difficult to follow up, the market atmosphere will be difficult to really improve. LLDPE warehouse receipts opened low and fell today. The market bottomed out and rebounded. The trend was stable in the afternoon and closed down slightly. It is expected that the market will continue to adjust slightly in the later period according to the data of the National Bureau of statistics

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