Because the economic data of the United States was disappointing, stocks reached the highest level in nearly 27 years. Market participants are generally worried that the slowdown in economic recovery will not be able to support higher oil prices. Crude oil ** settlement price fell to a six-week low on Thursday. As of August 19th, WTI closed at 74.43 US dollars/barrel, down 1.31 US dollars from last Thursday; Brent oil price closed at 75.30 US dollars/barrel, compared with last week. Four fell 0.22 dollars.
Comprehensive view of the plastic market, this week the plastic market dominated the overall market, international crude oil prices have little effect on the market, petrochemical partial adjustment of the ex-factory price of the market has a limited role, at present, the overall perspective is still mainly wait and see, most market participants on the market outlook I am still confused. This week, the A-share market rose first and then fell. It has a greater impact on the warehouse receipts and Liansu market, but the overall fundamentals of the plastic market are relatively weak. As of Friday's close, warehouse receipts and Liansu rose only slightly, allowing most of the investment. Disappointed.
In November, the main contract of Liansu Plastic Co., Ltd. rose and fell afterwards, rising slightly. Day K receives two yin and three yang, and tests the 20-day moving average support. This week's overall turnover was significantly higher than the previous trading week. As of this Friday's close, even the plastic 1101 contract closed at 10415 yuan / ton, up 20 yuan / ton from last Friday.
This week, the overall situation in the plastic warehouse receipts market is strong and weak, with the center of gravity moving slightly upwards. This week's decline in crude oil has weakened the effect on the warehouse receipts market. On the other hand, the A-share market has strengthened at the beginning of the week to inject upward momentum into the market. On Monday, warehouse receipts benefited from A-shares' gains and the gains were substantial. Afterwards, the investor’s enthusiasm continued to increase on the trading day. The warehouse receipts opened higher on Wednesday and the market brewed back. In view of the generally low status of the spot market, there are occasional bright spots that are difficult to sustain. It is difficult for such fundamentals to sustain the continuous growth of the plastic market. As the market approaches the end of the week, the market has gradually gained back. The overall volume of this week has shrunk from last week and the order volume has decreased. As of 15 o'clock on Friday, the China Plastics Warehouse Receipts Index closed at 922.22 points, up 13.56 points from the previous weekend. The total volume was 7554 batches and the order quantity was 4317 batches.
As of Friday, the warehouse receipt LLDPE index closed at 974.86 points, up 9.11 points from the previous weekend. In a generally linear situation, Zhou K is a short-term positive line, KDJ indicators are accelerating upwards on the three lines, MACD indicators are double-crossing, and the red pillars are growing. The overall transaction volume is higher than last week's volume, and the order volume is slightly increased. Main September warehouse receipts closed at 10025 yuan/ton on Friday, up by 25 yuan/ton from last Friday.