echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Market supply growth slowed down, PP volatility fell

    Market supply growth slowed down, PP volatility fell

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    The PP1709 contract opened at 8222 yuan / ton, the highest was 8314 yuan / ton, the lowest was 8031, and it closed at 8032, down 295, or 3.
    54%
    on the day.
    The volume increased to 326,200 lots, and the position increased by 45,830 lots to 329,300 lots
    .

    PP

    Raw material prices: Japan naphtha CF Japan reported 490.
    12 yuan / ton, up 10.
    87; naphtha FOB Singapore reported 53.
    31 US dollars / barrel, up 1.
    14
    .
    ethylene CFR Northeast Asia 1165 US dollars / ton, up 15; CFR Southeast Asia was trading at $1,040 a tonne, up 5
    .
    The CIF price of propylene in China was 850 US dollars / ton, unchanged
    .

    Spot prices: foreign spot market prices were flat, the Far East was flat at $1025 / ton, flat, and China's CIF price was flat at $1025 / ton
    .
    Prices in the domestic market rose slightly; East China Ningbo 8100 yuan / ton, down 150; South China Maoming reported 8600 yuan / ton, unchanged
    .

    News side: 1.
    Lanzhou Petrochemical (300,000 tons/year) new plant started up on the 9th to produce T30S; The old plant (50,000 tons/year) is
    in operation.

    The device entered the maintenance season, the overall operating rate fell, and the market supply growth slowed down, but the social inventory remained high, coupled with the impact of poor downstream injection molding demand, the upward momentum of the futures price was limited, and the short-term transfer and monthly futures price maintained a wide range of
    shocks.
    Technically, the PP1709 contract fluctuated downward, testing the pressure around 8300 above, testing the 8000 integer mark support below, short-term or maintaining weak volatility, it is recommended to sell short at the high in the range
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.