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[trading Express] the upsurge of speculation lacks substantive benefits

[trading Express] the market closed at 15:00, and the China Plastics warehouse receipt index closed at 1362.18, up 23.37 points from the previous trading day

crude oil futures fell on Friday, affected by the strength of the US dollar and the expectation of sufficient global crude oil supply. The settlement price of light sweet crude oil futures for September delivery on the New York Mercantile Exchange (NYMEX) fell $1.24 to $113.77 a barrel, down 1.1%; Ice October Brent crude oil futures fell $1.13 to $112.55 a barrel. In the past ten trading days, oil prices fell in eight trading days, mainly due to the weakening of concerns about the imbalance between oil supply and demand. The organization of Petroleum Exporting Countries (OPEC) said in its monthly market report released on Friday that the outlook of the global oil market seems to be facing downward risks, and there may be a substantial increase in crude oil inventories. Analysts at Deutsche Bank predict that oil prices will fall from the peak to $100 in the first quarter of 2009, which is called condescension, and will further fall to $85 in 2010

as of 3 p.m., the electronic intraday quotation of WTI recent month futures was reported at 115.25 yuan/barrel, up $1.48

last Friday, the warehouse receipt market opened flat and fell, the index closed at the negative line, the market reduced its positions in large quantities, and some short-term long-term profit-making funds fled. In the same period, the continuous plastic volume fell and the position increased sharply. At the opening today, the warehouse receipt market opened higher as a whole, of which the linear high opening range was close to 300 points, and the gains of all sectors in the early part of the session were retrenched. However, with the transition of the wait-and-see period, the buying order gradually increased, the commission ratio data continued to rise, and the market rally also continued to expand. As of the morning closing, the linear sector materials determined the overall quality of the experimental machine almost rose by the limit, and the main increase of PP also reached 2.5%. The market opened in the afternoon, and the overall market remained stable, but the orders showed that the funds entered the market and built positions during this period. The warehouse receipt index fell below the negative line today, with a short entity and a long shadow line. For multi-party markets, it can be a dangerous signal, which needs to be verified in the future. Today, the transaction volume of the market decreased to a certain extent, and all current indicators tend to be bullish, and the K-line entity stood on the 20 day moving average for the first time in 7 weeks. Liansu's main force closed at a long positive line today, approaching the daily limit, and the entity's focus was close to the 30 day moving average. The transaction volume decreased compared with yesterday, and the position also decreased significantly in the late trading. In terms of spot goods, the wait-and-see atmosphere in the PE market is relatively strong. At present, most regions of PetroChina have cancelled listing and raised prices to re price sales, so traders mostly wait for Sinopec to issue corresponding policies. The market performance is different across the country, and North China linear continues to rise slightly. However, East China continued to rise significantly. Compared with the brands in South China, the resistance of downstream factories to last week's price rise is more obvious, and there are few goods received today. The atmosphere of PP market in China plastic city was flat, and the quotation was mainly stable, with some narrow adjustments, and the transaction was still poor. Most traders wait and see, low or even more than doing new plastic warehouse operations; Downstream factories dare not receive more goods, and continue to buy now

in general, the plastic market has shown some signs of warming recently, but the mainstream mentality of traders is still wait-and-see. Despite the stimulation of petrochemical production reduction, there are not many substantive benefits. Traders who had deep cover in the early stage waited for shipping opportunities. In contrast to the warehouse receipt market, traders' enthusiasm for speculation has been high recently, the market has risen sharply three times, and even plastic transactions in the same period have seen huge volume. The market as a whole is a little biased away from the actual theme of speculation, Once the main funds withdraw, it will lead to panic decline

15:00 closing, the settlement prices of ab0810, ll0810 and pp0810 were 15761, 13735 and 13112 yuan/ton respectively, up and down by +81, 245 and +238 points compared with the previous trading day. A total of 11740 tons were traded in the market today, 3825 tons less than the previous trading day; The total order was 20315 tons, an increase of 445 tons over the previous trading day. The specific data of double volume are as follows:

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

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