A brief comment on the closing of PP warehouse rec

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On May 13, PP warehouse receipt closing brief comment

although crude oil futures once again set a record in the session, the settlement price fell and profit taking dominated. Today, China Plastics PP warehouse receipt opened high and went low, the seller's side suppressed the decline, and the mid session turned into a decline. The decline in the mid and post session was accurately judged, and continued to fluctuate and decline, until the end of the session index closed at 1385.74. The main variety pp0807 opened high and went low at 13610 yuan/ton. The selling price in the front and middle of the market fell to the bottom. The buyers in the back and middle of the market rose, but it was difficult to change the decline. The range fluctuated to the end of the market and closed down at 13550 yuan/ton. The settlement price of pp0806 today was 13559 yuan/ton, down 21 yuan/ton from the previous trading day. Today, the market trading atmosphere continues to improve, with a large increase in trading volume and a stable order volume, which can accurately measure the actual impact resistance of the experimental products

it is expected that the warehouse receipts of China Plastics PP will be subject to shock consolidation tomorrow

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

information source: China plastics trading

note: the source of this reprint is indicated. The reprint is for the purpose of increasing the water flux by 30% to deliver more information, which does not mean that you agree with its view or confirm the authenticity of its content

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