PP increased its position slightly and closed up to focus on the support below

Raw material prices: Japan naphtha CF Japan reported 507.
5 yuan / ton, down 2; Naphtha FOB Singapore was trading at $55.
15 a barrel, down 0.
2
.
ethylene CFR Northeast Asia 1375 US dollars / ton, down 10; CFR Southeast Asia was flat at $1145/mt
.
The CIF price of propylene in China was 1005 US dollars / ton, flat
.

Spot prices: foreign spot market prices fell slightly, the Far East was reported at $1025 / ton, down 5, and China's CIF price was reported at $1025 / ton, down 5
.
The domestic market price fell, North China Qilu Petrochemical 8800 yuan / ton; East China Ningbo 8650 yuan / ton, up 50; South China Maoming reported 8800 yuan / ton, flat
.

News side: 1.
The overall operating rate of the domestic polypropylene downstream industry this week is about
62.
3%.
Among them, the plastic knitting industry is 56%, the copolymer injection molding operating rate is 65%, and the BOPP operating rate is 66%.

Short-term downstream starts have rebounded, but raw material prices have fallen, the market is not highly motivated to take goods, mostly to digest the previous inventory, this week social inventory continued to increase, but the increase has slowed down, and near the end of the month, traders completed orders to take goods, the price slightly supported, the future market attention to demand and inventory digestion capacity, short-term is expected to maintain low volatility
.
Technically, PP1705 contract increased positions to close slightly higher, short-term lower test of support around 8600, upper test of pressure around 8900, if the futures price fails to hold 8600, then look further to 8300
.