PP increased its position and closed down below the 9,000 mark

News side: Qilu Petrochemical's 120,000 tons/year linear unit produces 7151U, 140,000 tons/year low-voltage first-line production 22F, second-line production QHM32F, 250,000 tons/year new low-voltage device produces 1158P, 140,000 tons/year high-voltage device 2100TN00
.

Raw material prices: Japan naphtha CF Japan was at $613/ton, up 4.
75; naphtha FOB Singapore was at $67.
44/barrel, up 0.
52
.
South Korea's FOB propylene price was $1040 / ton, up 10, and the domestic propylene price was 8175 yuan / ton, flat
.

Spot prices: foreign spot market prices are temporarily stable, the Far East is flat at $1200 / ton, and China's CIF price is flat at $1200 / ton.

Prices in the domestic market are temporarily stable; North China Qilu 8750 yuan / ton, flat; East China Ningbo 9000 yuan / ton, flat; South China Maoming reported 9250 yuan / ton, up 50
.

The PP1809 contract closed up in early trading, and the price plunged sharply in the afternoon, falling below the 9000 mark of the first support level in the previous period and continuing to fall to test the 20-day moving average support level
.
The overall domestic PP market has not changed much, Sinopec oil enterprises have stabilized, spot market prices are temporarily stable, and merchants are mostly holding a wait-and-see situation
.

On the technical side, the PP1809 contract closed down for 4 consecutive trading days, and after testing 9100 above, it quickly fell back below 9000, the center of gravity of the futures price moved downward, the MACD red column contracted, and the futures price showed a volatile trend
.
Operationally, trade
in the range 8880-9160.