A brief comment on the HDPE market of Sinochem war

On May 12, China Plastics warehouse receipt HDPE market brief comment

I. Market Overview:

today, China Plastics HDPE warehouse receipt market opened higher, rising straight. The HDPE index closed at 1141.95 today, up 2.56 points from the previous trading day. In terms of transaction details, the trading volume is enlarged and the order volume is reduced slightly. From a technical point of view, HD daily K-line chart closed at the short positive line, the entity moved up, the five-day moving average rose in a straight line, and the moving average system was arranged in a long line; The KDJ index is passivated, and the three lines converge to bring together the first line, which is subject to overbought areas; The opening of the brin line will be sharply enlarged, and the price of FRP will be reduced to 17.3%, and the broken line will travel on the upper rail; MACD has an upward trend, and the red column continues to enlarge

II. Analysis of main varieties

today, the main warehouse receipts of hd0806 opened at a high price of 14035 yuan/ton. The overall price trend opened higher and went higher, with upward shocks and enlarged trading volume. The closing price was 14055 yuan/ton, and the settlement price today was 14047 yuan/ton, up 44 yuan/ton from the previous trading day. Technically, the daily K-line closed at the short positive line, and the five-day moving average continued to rise; KDJ indicators are parallel and stay in overbought areas

III. comprehensive comments:

basically, WTI crude oil in New York commodity futures trading rose $2.27 to 125.96. John Vickers, the project manager, pointed out in today's press conference that USD/barrel, Brent crude oil rose $2.56 to 125.4 USD/barrel

the ps/abs morning market in Yuyao plastic city continued the trend of last weekend, and the quotation continued to rise. This round of market is mainly supported by the upstream market and the cost side. The international oil price not only broke through the $125/barrel mark, but also continued to show a rising trend. Petrochemical prices rose in turn, pushing up market prices strongly. The latest mainstream quotation for domestic ABS is yuan/ton. Imported ABS is yuan/ton. GPPS is yuan/medium ton, hips is yuan/ton

on the whole, PE warehouse receipts continued to rise today, buying was strong, and the price closed slightly higher than the previous trading day. Most market participants are still optimistic about the future market, and it is expected that the future market will continue to rise

note: the source of this reprint is indicated. The reprint is Honeywell's mass production of new materials with low global warming potential. For the purpose of transmitting more information, it does not mean to agree with its views or confirm the authenticity of its content