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PP High Open Finishing Suggested range trading

 Last Update: 2022-12-09
 Source: Internet
 Author: User

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petrochemical industry

spot urine test

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The PP1805 contract opened at 8750 yuan / ton, the highest was 8820 yuan / ton, the lowest was 8740 yuan / ton, and closed at 8752 yuan / ton, up 38, or 0.
44%.

The volume increased to 280,000 lots, and the open position decreased by 13,130 lots to 432,000 lots
.

News side: Qilu Petrochemical (70,000 tons/year) plant produces EPS30RA.

Raw material prices: Japan naphtha CF Japan reported $583 / ton, up 3; Naphtha FOB Singapore was trading at $63.
66 a barrel, up 0.
7
.
Domestic propylene prices were 7325 yuan / ton, up 50
.

Spot prices: foreign spot market prices fell, the Far East reported $1200 / ton, down 10, and China's CIF price was 1190 US dollars / ton, down 10
.
Prices in the domestic market are temporarily stable; North China Qilu 8600 yuan / ton, flat; East China Ningbo 8750 yuan / ton, up 150; South China Maoming reported 9100 yuan / ton, unchanged
.

The sharp rise in international oil prices boosted PP futures prices higher, but petrochemical plants remained stable, terminal operations were general, the market wait-and-see atmosphere was strong, inventory consumption was slow, and short-term PP prices rebounded
weakly.

On the technical side, the PP1805 contract opened higher today and consolidated the trend, and the upper 10-day moving average suppressed
.
In addition, the volume and position shrinkage affect the recovery space
of the futures price.
Operationally, trade
in the range 8650-8850.

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