PP cost support differentiation It is recommended to take short positions at high prices

Raw material prices: Japan naphtha CF Japan reported 509.
75 yuan / ton, down 3.
25; naphtha FOB Singapore reported 55.
66 US dollars / barrel, down 0.
51
.
ethylene CFR Northeast Asia 1385 US dollars / ton, down 5; CFR Southeast Asia was flat at $1150/mt
.
The CIF price of propylene in China was $1010/ton, down 10
.

Spot prices: foreign spot market prices are basically flat, the Far East is flat at $1030 / ton, and China's CIF price is flat at $1030 / ton.

The price of the domestic market fell, and North China Qilu Petrochemical was 9100 yuan / ton; East China Ningbo 8750 yuan / ton, down 100; South China Maoming reported 8900 yuan / ton, down 50
.

News side: 1.
Dushanzi Petrochemical PP granule old plant produces 0640P in the first line, and V30S in the second line; The new plant was converted to T4401 in the first line and S1003
in the second line.
The total production capacity of the plant is 690,000 tons, the old plant is 140,000 tons, and the new plant is 550,000 tons
.

Methanol short-term pullback, propylene prices are still firm, PP costs support differentiation, but the decline in methanol drags down PP, and PP inventories have grown, short-term fundamentals are relatively bearish, some petrochemical lowered factory prices, futures prices are under pressure
.
Technically, PP1705 contract position reduction shock closed down, short-term above the average suppression, upper test around 9000 pressure, below test around 8700 support, it is recommended to short
in the 8700-9000 range.