Shanghai Daoqin Plastics Co., Ltd.

3 month 10 day large product overall 震荡运行, 文华商 product most 终收跌0.84%. chemical industry sheet/plate block 震荡整理走势, overall 收跌0.95%, its in PP05 combined 约震荡走 high, most rear fall 0.01%, 报7145点, day overall 走势出现 separation 化, polypropylene (PP) price in chemical industry product in still relatively strong/high.

【  core 思考 】

for/regarding polypropylene (PP), has below/following 思考:

overall chemical industry sheet/plate block polypropylene (PP) still performance relatively is 突出. that is polypropylene (PP) can 够脱颖而出呢? overall 讲, polypropylene (PP) basic 面并无 obvious 矛盾, 叠 add formed 本支撑, Korea outer 围情绪 effect/influence, and in as 点口罩.

polypropylene (PP) basic 面并无 obvious 矛盾, performance is although upper 游库存 currently 位于历 history 同期 一 high 点位置, is lower 游复工 belt/tape rigid property demand still in, overall drop 库情况 relatively is 平稳, expected rear still can positive 反馈.

another although lower effect/influence demand, construction start negative 荷恢复缓 slow, is rigid still in, another price fall 会引发投 machine property demand, polyolefin lower elastic property relatively large, can overlook.

that 么, currently futures price to 达 7145 relatively high 位置, and in chemical industry sheet/plate block relatively strong/high, in basic has obvious front lower, Korea and 乐天事 parts 引发担忧, propylene cost 支撑, large growth can can is its effect/influence factors.

Korea 乐天发生爆炸事 parts, is according to 我们 测算 for inner polypropylene (PP) and propylene supply effect/influence is very large, currently main/primary still is property 发酵, propylene 本身也 is can 源停车 supply decrease/reduce, demand has 恢复走 strong/high. 而口罩 demand increase speed non fast, currently to upper month 12倍, rear 续持续 growth, or for polypropylene (PP) demand generate effect/influence, need 持续关注.

currently futures 受疫情 and other macro parts effect/influence 波动会 comparison large, therefore mono 边方面, 建议基于 upper lower safety 边际 做, breakthrough upper Imported cost 线7150 left right can 进行适当卖空操 as, currently more factors how to also has 待观察, can improve/increase upper 边际做空.

【 关注点:基差 obvious strong/high? 】

currently futures 基差走 strong/high obvious, day 至-50, main/primary can can has below/following several causes:

upper 游近期挺价意愿 relatively strong/high, for price has 一定 支撑 function.

market upper trade 商 卖期买现行 is, 做基差走 strong/high easy, and separation can can to 无风险 sleeve/set machine 会, low 价货意愿 relatively strong/high.

lower 游虽投 machine property demand decrease/reduce, is still has rigid procurement, overall positive 反馈 以 achieve.