PP contracts rebounded from the dip and tried to grab a rebound

News: On September 5, PP Sinopec South China injection plastic CJS700 raised 100 yuan / ton to 10150 yuan / ton, copolymer Guangzhou Petrochemical K8009 decreased 100 yuan / ton to 10700 yuan / ton; Sinopec East China rose and fell, with a range of 100 yuan / ton
.
The downstream wait-and-see mentality is getting stronger, and the transaction is light
.
Today's Shenhua coal chemical PP bidding volume was 3514 tons, an increase from yesterday, and the trading volume was 2629 tons, a decrease from yesterday, with a transaction ratio of 74.
82%.

Raw material price: naphtha CF Japan reported 693.
62 US dollars / ton, up 1.
76%; FOB Singapore was trading at $75.
76 a barrel, up 1.
79%.

South Korea's FOB propylene price was 1085 US dollars / ton, flat, and the domestic propylene price was 9325 yuan / ton, flat
.

Spot prices: Southeast Asia was trading at $1240, flat; The Far East was flat at $1,205 /
tonne.
Domestic: North China Qilu reported 9930 yuan, flat; East China Sanyuan 9800 yuan, down 50 yuan; South China Maoming 10,000 yuan, flat
.

The PP1901 contract rebounded from the low, and the position increased slightly, indicating that there was some support
below.
Fundamentally, the decline in social inventories has formed a certain support for futures prices, but the loosening of spot prices has suppressed futures prices
.

Technically, the MACD indicator oscillated and retreated, but the green bar narrowed, and the KDJ indicator diverged low and crossed upward, and there may be a rebound
in the short term.
In terms of operation, it is recommended that prudent investors take profit on the low and fall their pockets, and aggressive investors can set a stop loss and try to grab a rebound
on the low position.