Brief comment on PP warehouse receipt at noon on O
2022-10-16- Detail
On October 22, PP warehouse receipt midday brief comment
crude oil futures fell back from the previous day's rise on Tuesday, as the market focus shifted to the weak economy. Today, the PP warehouse receipts of China Plastics continued to fall sharply, opening low and going low. The low in the early stage showed a slight upward trend, and fell again in the late afternoon, until the end of the day index closed at 859.77 points. Pp0901, the main variety, opened sharply lower at 8010 yuan/ton, and went horizontally in the middle and front of the market, but rose slightly in the late market, and closed down at 8049 yuan/ton. The settlement price of pp0901 today was 8014 yuan/ton, a sharp drop from the previous trading day, sometimes referred to as 244 yuan/ton to avoid continuous collapse of the structure. Today, the market trading atmosphere continued to decline. The previously tightened production restriction policy was also adjusted in time, and the double volume was significantly reduced
it is expected that the warehouse receipts of China Plastics PP will continue to fluctuate and decline tomorrow
(personal view, for reference only, it means that the energy consumption in this field has decreased; therefore, entering the market at your own risk)
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