Methanol short-term pullback PP increased positions to the downside

Raw material prices: Japan naphtha CF Japan reported 513 yuan / ton, up 1; Naphtha FOB Singapore was trading at $513 a barrel, up 1
.
ethylene CFR Northeast Asia 1390 US dollars / ton, up 15; CFR Southeast Asia was flat at $1150/mt
.
The CIF price of propylene in China was 1020 US dollars / ton, flat
.

Spot prices: foreign spot market prices fell slightly, with the Far East at $1,030/ton, down 10, and China's CIF price at $1,030/ton, down 10
.
The domestic market price was basically flat, with North China Qilu Petrochemical 9100 yuan / ton; East China Ningbo 8850 yuan / ton, flat; South China Maoming reported 8950 yuan / ton, flat
.

News side: 1.
The pricing of Shaoxing Sanyuan PP granules was reduced by 300 yuan / ton, the wire drawing T30S was set at 8750 yuan / ton, the film material F280F was set at 8780 yuan / ton, the injection molding Y16SY was set at 8800 yuan / ton, and the fiber Y26SY was set at 9050 yuan / ton
.
Shaoxing Sanyuan PP granule old plant (200,000 tons/year) output Y26SY; The new plant Shaoxing Sanjin (300,000 tons/year) produces T30S
.

Methanol short-term pullback, propylene prices are still firm, PP cost support differentiation, but the decline in methanol also has a certain impact on PP, and PP inventories have grown, short-term fundamentals are relatively bearish, petrochemical lowered factory prices, and futures prices came under pressure
.
Technically, PP1705 contract increased positions downward, short-term above the moving average suppression, above the test of pressure around 9000, short-term under inventory pressure or weak shock, it is recommended to rely on the five-day line short
.