PE and PP futures market on 10.Oct

Futures analysis: Plastic 01 contract opened on the first day after the festival today. In the early trading, the futures price jumped high and rose by more than 200 points. The futures price fell narrowly to the lowest point of 8246, and then continued to fluctuate up to the closing. In the afternoon, the session price peaked at 8390. There was an obvious increase in intraday positions today. The whole day fluctuation range of the 01 contract is 8246-8390, and the price difference is 144. The 01 contract added 23894 positions, and the current positions are 387338.

The price of plastic 01 contract jumped high today, giving short sellers a heavy blow. Open 25.2% in intraday trading compared with 27.8% in extra opening to win. The spot market prices on National Day holidays and Saturdays and Sundays kept rising by about 200 yuan/ton, providing strong support. The technical level shows that the three tracks of Bollinger Belt (13, 13, 2) are open, the opening price directly skips the upper track, and the lag price continues to move up and down through the upper track. From the technical level, it is expected that there is a further upward trend, but the risk is also increasing. After observing the top 20 seats on today's Dragon and Tiger List, we found that there was an obvious increase in positions on the market today, including 23933 positions for multiple orders and 13180 positions for empty orders. The current price has reached a high level, so we suggest you be cautious.

PE spot analysis
The mainstream price rise of the polyethylene spot market slowed down yesterday, and the enthusiasm of the lower reaches for orders decreased slightly. Today, the main spot price of polyethylene rose and fell with each other, and some prices began to fall back. Downstream procurement was dominated by rigid demand. Today, the futures market opened for the first time after the festival, and polyethylene futures prices rose sharply, which was a good guide to the spot market. The price of crude oil on the cost side remained firm, with strong support; In terms of supply, there is little change in maintenance devices within a week, and the supply pressure is fair; After the end of the festival, the demand was stable and good, but the downstream was more resistant to the high price supply, and the wait-and-see mood was strong. It was undeniable that there was still a strong demand in the downstream, and the market trading was more optimistic than before the festival. The stock of the two oils was 765000 tons (the morning stock was revised to 790000 tons yesterday), down 25000 tons from yesterday.

Domestic PE index
According to Tu Duoduo's data, the domestic PE spot index on October 10 was 9222, up 21, or 0.23%. The LLDPE spot index was 8781, up 14, or 0.16%. LDPE spot index was 10242, up 22, or 0.22%. HDPE spot index was 8624, up 23, or 0.27%.

PP futures analysis
On October 10, the opening price of PP PP 2301 contract: 8200, the highest price: 8225, the lowest price: 8105, the position: 472347, the settlement price: 8173, yesterday's settlement: 7964, up: 209.
Domestic PP index
According to Tu Duoduo's data, the domestic PP spot index on October 10 was 8515.12, up 8.29, or 0.10%.