Brief comment on PP warehouse receipt at noon on D

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On December 19, a brief review of PP warehouse receipts at noon

crude oil futures hit a new low in four and a half years on Thursday, according to China's strategic deployment in the new round of the world's scientific and technological revolution. The maximum intraday decline was close to 10%, once falling below $36 a barrel, because concerns about the decline in global oil demand exceeded the impact of market initiatives boosted by smog, energy conservation and emission reduction and stricter oil consumption regulations of the organization of petroleum exporting countries. China Plastics PP warehouse orders opened sharply lower today, and then the buyer's support pulled up, surging upward, and the end of the day index closed at 705.87 points. The main variety pp0904 opened low and went high at 6280 yuan/ton, then the shock accelerated upward, the mid market confrontation and horizontal shock, the buyer pulled up in the late market, and the market finally closed up at 6410 yuan/ton. The settlement price of pp0904 was 6351 yuan/ton, a year-on-year decrease of 43 yuan/ton compared with the previous trading day. Today, the market trading atmosphere is still good, with a large increase in trading volume and a slight decrease in order volume

it is expected that China Plastics PP, such as warehouse receipts, will continue to consolidate in the near future

(personal view, for reference only; based on this, enter the market at your own risk to check whether there is gluing)

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