It is difficult to make a breakthrough in the weak

[PVC weekly review] weak consolidation is difficult to make a breakthrough

first, this week's market (July 16 to July 20)

the weakness of the plastic warehouse receipt market in the middle of this week has not changed, the signs of recovery at the beginning of the week are fleeting, the oil price is higher, it is difficult to stop the decline of the warehouse receipt, the price is down again, the market mentality is low, the bearish mentality is strong, the moving average system shows a short position, and the pressure on the 5-day moving average is obvious. The trading atmosphere has warmed up. This refers to the use of the up or down button, and the mobile board should automatically stop when it reaches the upper and lower limit positions. On Friday, the China Plastics warehouse receipt index reported 1328.62 points, down 4.03 points from the end of last week. PVC warehouse receipts remained weak this week, with a volatile trend and a slight decline

on Monday, the PVC warehouse receipt opened slightly higher, the price rose slightly in the early stage, then fell slightly after narrow adjustment, and closed slightly higher in the late afternoon, with the PVC warehouse receipt index rising 4.66 points. On Tuesday, PVC opened slightly lower, and then the price surged, and the index rose to close higher, finally rising by 2.57 points, with a slight increase in trading volume. On Wednesday, PVC warehouse receipts fell across the board, and the disk price continued to consolidate in a narrow range. At the end of the day, the index fell by 10.49 points, and the trading atmosphere was more active. PVC opened slightly lower on Thursday, the price rose narrowly in the early stage, and then the trend stabilized. In the late trading, the index fell by 5.57 points, and both volumes rose significantly. Over the weekend, PVC opened slightly higher in recent years, the price rose in the early stage, and then maintained a narrow adjustment trend. At the end of the day, the index closed up, rising 4.09 points. By the end of Friday, the PVC warehouse receipt index closed at 1231.88 points, down 4.75 points from the end of last week. This week, the average daily trading volume of PVC warehouse receipts was 176 tons, an increase of 6 tons compared with last week. The trading atmosphere was acceptable. 80 batches were ordered at the weekend, a decrease of 1 batch compared with last weekend

the specific data of a week are as follows:

warehouse receipt variety

settlement price (yuan/ton)

average daily trading volume of PVC warehouse receipts (tons)

total order volume of PVC warehouse receipts (batches)

this weekend

last weekend

rise and fall

this week

last week

increase and decrease

this Friday

last weekend

increase and decrease

pv0708

7388

7425

graphene products are also difficult to enter the hall of elegance 37 ↓

176

170

6 ↑

80

81

1 ↓

pv0709

7395

7426

31 ↓

II. Comprehensive analysis

on the message side, The crude oil price trend this week was slightly volatile, with prices rising and falling on Monday; All kinds of good and bad news on Tuesday affected the market back and forth, and the closing was significantly lower; Subsequently, affected by multiple factors such as increased demand, unexpected reduction of gasoline inventory, and force majeure in the production of an Angolan oil field, the price rose sharply. On Friday, due to the expiration of WTI's contract in August, traders' participation in the selling price fell slightly. By the close of this Friday, WTI's price had risen by $1.64. In terms of spot goods, the general phenomenon of PVC domestic petrochemical ex factory price shows that the deformation of the sample continues to stretch and stabilize without continuing to increase or slightly reduce the tensile force borne by it. A few brands have increased by yuan/ton, the market performance is general, the prices in some regions have slightly declined, the market supply is general, the downstream demand is flat, it is difficult to put on a large scale, and it is basically maintained to buy with use. Traders are not confident in the future market, most of them take goods at a favorable price, and they are cautious in taking goods, Some hold a wait-and-see attitude. At present, the overall transaction situation of the market remains unchanged. Some people believe that there is a decline in the future market stability

on the whole, the rise of crude oil has not boosted the confidence of PVC market. At present, the overall weakness of PVC warehouse receipts has not changed, and the rise is weak. There is a greater possibility of future market range shocks

(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