ABS weekly review of the hottest crude oil rose sh

2022-10-24
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[ABS weekly review] crude oil surged, warehouse receipts rose day after day

I. this week's market (March 10 - March 14):

the ABS warehouse receipts market rose all the way this week, rising for four consecutive days since the beginning of the week, and rising step by step in a week of price shocks. By the end of the weekend, the ABS warehouse receipt index had closed at 1275.63 points, up 2.25 points from the previous weekend. The specific trend of the week is as follows:

on Monday, the two trading varieties in the China plastics ABS warehouse receipt market closed up as a whole, with a general increase, and the trading volume fell slightly. As the market continued to rise on Tuesday, the physical center of gravity moved slightly upward, and KDJ indicators showed that the third line continued to diverge upward, but the range slowed down. On Wednesday, the closing price of three trading varieties was mixed, and the trading volume rose significantly. A short positive line was closed on the daily K-line chart, and the physical center of gravity continued to move upward at a constant speed. KDJ index showed a slight downward trend on the j-line. On Thursday, the market continued to make efforts. The overall market closed red on the disk, and the trading volume fell slightly. A shadow short positive line was closed on the daily K-line chart, and the physical center of gravity continued to move up at a constant speed. KDJ index showed a slight downward trend on the third line. On Friday, the price fell back and adjusted reasonably. That is to say, the decline was general. Both volumes fell slightly. A shadow t was collected on the daily K-line chart, so that the problem could be easily solved. The physical center of gravity moved down slightly, and the KDJ index showed that the third line fell and converged. By the end of the weekend, the total number of transactions was 55, down 13 from last week; The order volume on Friday was 26 batches, down 6 batches from last Friday. The detailed transaction data of a week are as follows:

warehouse receipt variety

settlement price (yuan/ton)

ABS warehouse receipt transaction on this Sunday (ton)

ABS warehouse receipt order quantity (batch)

this weekend

last weekend

rise and fall

this week

last week

increase and decrease

this weekend

last weekend

increase and decrease

ab0804

15290

15285

5 ↑

55

68

13 ↓

32

26

6 ↓

ab0805

15295

15283

12 ↑

second, comprehensive analysis:

from the daily K-line chart of the index, the K-line combination entity received four Yang and one Yin this week, The center of gravity of the entity is basically above the 5-day moving average, and the weight center is slightly sagging on Friday. The weekly K-line shows that the entity received a short positive line of Shangying this week, and the KDJ index continues to show a slight upward trend. By Friday, the closing price and settlement price of the main variety ab0805 were both 15295 yuan/ton, and the daily K line received a shadow short negative line; The center of gravity of the entity moves down below the 5-day moving average; KDJ index is significantly reduced by 20 yuan/ton, as shown by Hangzhou Iron and Steel Co., Ltd., Hengyang iron and Steel Co., Ltd. and No. 3 iron and Steel Co., Ltd., indicating that the three lines diverged and fell

crude oil price: this week, the international oil price rebounded strongly after a short fall, hitting an intraday high for seven consecutive trading days. Crude oil futures in New York hit $111 a barrel, while Brent crude oil in London broke through $107. At the same time, futures and spot oil products in Europe and the United States also hit a record high. The Federal Reserve and the central banks of some European and American countries jointly rescued the market, but with the dollar hitting a new low, it is difficult to ease the international oil price, and the international energy agency believes that it is impossible for the oil price to fall significantly. At the close of trading on Friday, WTI was at $110.21/barrel, down $4.94 from last Friday; Brent was $107.55/barrel, up $5.17 from last Friday

this week, the domestic ABS market has achieved a certain boost in prices, with the mainstream increase of about 100 yuan/ton. Middlemen and end downstream customers have digested some of the early supply, so the continuous record high oil price undoubtedly gives all parties psychological stimulation. On Friday, the mainstream quotation of domestic materials in East China market was yuan/ton, and the mainstream quotation of imported materials was yuan/ton. The mainstream price of domestic materials in South China market is yuan/ton, and the mainstream price of imported materials is yuan/ton. (all prices in South China are free of ticket price)

at present, the good news is still stronger than the bad news. Therefore, in the medium and short term, the initiative to dominate the subsequent price adjustment of the market is still in the hands of petrochemical enterprises. However, after the recent centralized rise, producers tend to wait for the follow-up of downstream enterprises. It is expected that the space for the future market adjustment of China plastics ABS warehouse receipts is still optimistic

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

source of information: China plastics trading

note: the source of this reprint is indicated. The reprint is for the purpose of transmitting more information about the basic model that can take 158 passengers, which does not mean that you agree with its view or confirm the authenticity of its content

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