PP low rebounded Merchants slightly tentatively overreported

News side: Some merchants in the PP market underreported slightly tentatively, and the transaction did not increase significantly; North China continued the downward quotation on the afternoon of the 5th, and the transaction did not change
.
The wait-and-see mentality of downstream manufacturers occupies the mainstream and takes goods
cautiously.
CNPC Northeast injection molding, pipe, fiber reduced by 100 yuan / ton, and copolymerization decreased by 200 yuan / ton

Raw material price: naphtha CF Japan reported 586.
62 US dollars / ton, -1.
26%; FOB Singapore is trading at $63.
29/b, -1.
17%.

ethylene CFR Northeast Asia 920 US dollars / ton, -0%; CFR Southeast Asia is trading at $835/mt, -0%.

South Korea's FOB propylene price is 1020 US dollars / ton, -0%, and the domestic propylene price is 9225 yuan / ton, +0.
27%.

Spot price: Southeast Asia quoted $1250, -0%; The Far East was quoted at $1200 / ton, -0%.

Domestic: North China Qilu reported 10350 yuan, -0.
48%; East China Sanyuan 10400 yuan, +0.
48%; South China Maoming 10730 yuan, -0%.

PP1901 rebounded from the low, and the trading volume and position volume decreased
slightly.
Fundamentally, crude oil pulls back and propylene prices loosen, suppressing
prices.
However, the low level of social inventory and the little supply pressure have formed a certain support
for prices.

Technically, the MACD median flattened, the green column shortened, and the KDJ low golden cross showed signs and diverged upward, indicating that there is a short-term rebound requirement
.
In terms of operation, it is recommended that investors take advantage of the low and wait for the opportunity
to go long.