A brief comment on the closing of PP warehouse rec

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On June 19, a brief comment on the closing of PP warehouse receipts

crude oil futures reversed the decline for three consecutive trading days on Wednesday, with the settlement price breaking through 136 US dollars per barrel. Today, the China Plastics PP warehouse receipts market fell, and the main market fell by the opening limit, and then rose slightly. The short profit intention was gradually reflected, and the end of day index closed at 1585.30 points. Pp0807, the main variety, opened low at 15698 yuan/ton and went down with a shock until it ended sharply lower at 15530 yuan/ton. The settlement price of pp0807 today was 15610 yuan/ton, down from the previous trading day. The project is located in the southwest of China (10, 25, 50, 100, 200, 300, 500, 1000) GF, 142 yuan/ton. Today's market transactions have improved compared with the previous trading day, with short positions taking profits, and the order volume is relatively stable. The change-over switch should be turned to the "load" position

it is expected that the warehouse receipts of sinoplastics PP will be more likely to fluctuate at a high level tomorrow

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

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