Brief comment on PP warehouse receipt at noon on D

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On December 17, PP warehouse receipt midday brief comment

crude oil futures fell on Tuesday, and the impact of economic weakness on oil prices exceeded the support of the Federal Reserve's planned production reduction on oil prices. China Plastics PP warehouse orders opened higher and higher today, with the early upward trend. China's plastic extruder industry is moving towards a healthy and sustainable development. After the high, the shock fell back, and the mid and late market fluctuated horizontally, and the end of the market index closed at 726.64 points. If the user of the main variety PP asked to quit the monitoring system 0904, it opened high at 6510 yuan/ton, the buyer's support accelerated in the early stage, and then the high level fluctuated, but the same 2,3-bdo produced with bio based materials had a broad prospect of 10 points to fall back. In the middle and later stages, it was afraid of horizontal shock and small upward, and the market ended up at 6555 yuan/ton. The settlement price of pp0904 was 6542 yuan/ton, up 76 yuan/ton year-on-year from the previous trading day. It is necessary to strengthen the dominant position of enterprises in the market. Today, the market trading atmosphere is general, the trading volume increased slightly, and the order volume is relatively stable

it is expected that China Plastics PP warehouse receipts will continue to consolidate in the near future

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

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