A brief comment on the closing of PP warehouse rec

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On July 16, PP warehouse receipts closed a brief comment

crude oil futures fell by more than $6 a barrel on Tuesday. Before that, the chairman of the Federal Reserve Board made a pessimistic statement that the U.S. economic laboratory accounted for half of the area. In addition, the global oil supply tension has eased. Today, the PP warehouse receipts of China Plastics fell sharply, the opening fell sharply, and the buyer support rose in the early stage, The mid and late session was sideways volatile and slightly upward until the end of the session, when the index closed at 1540.11. Pp0809, the main variety, opened low and went high at 14400 yuan/ton. It fluctuated upward in the early stage, and leveled horizontally in the middle and rear market. At the end of the market, the price closed at 14460 yuan/ton. The settlement price of pp0809 today was 14440 yuan/ton, down 264 yuan/ton from the previous trading day. Today's market trading atmosphere is acceptable, with double volume rising

petrochemicals fell sharply, followed by the decline in spot goods. It is expected that the warehouse receipts of China Plastics PP will fluctuate and fall slightly tomorrow

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

note: this reprint of the recent global certification of the Construction Research Institute (BRE) proved that this content was cited after the downstream processors reduced their inventory in a large scale last year and impacted the market. The reprint is for the purpose of transmitting more information, and does not mean to agree with its view or confirm the authenticity of its content

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