Inventories fell slightly, and PP volatility closed higher

Raw material prices: Japan naphtha CF Japan reported 485.
62 yuan / ton, down 14.
63; naphtha FOB Singapore reported 52.
54 US dollars / barrel, down 1.
94
.
ethylene CFR Northeast Asia 1375 US dollars / ton, flat; CFR Southeast Asia was flat at $1145/mt
.
The CIF price of propylene in China was $950/ton, down 5
.

Spot prices: foreign spot market prices rose slightly, the Far East was quoted at $1045/ton, up 5, and China's CIF price was $1045/ton, up 5
.
Prices in the domestic market rose slightly; East China Ningbo 8600 yuan / ton, up 100; South China Maoming reported 8750 yuan / ton, down 50
.

News side: 1.
CNPC Northwest PP granules listed down by 50-100, Ningxia T30S listed 8250; Lanzhou T30S hanging 8300; EPS30R hanging 8850; K8003 hang8850, Yangang H9018 hang8900, Lanzhou BH premium hanger 8650, the above price is Lanzhou library price
.

This week, the inventory of PP major traders and manufacturers fell slightly, mainly affected by the price decline, the downstream just need to take the goods, some devices in the later period into the maintenance period, downstream demand slightly recovered, pay attention to the market inventory digestion capacity, it is expected that the price will continue to fall with limited
space.
Technically, the PP1705 contract closed up in shock, short-term lower test of support around 8600, upper test of pressure around 8900, is expected to maintain short-term volatility in the 8600-8900 range, intraday range bargain long trading
.