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PP narrow finishing short-term need to guard against technical pullbacks

 Last Update: 2022-12-10
 Source: Internet
 Author: User

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The PP1809 contract opened at 9277 yuan / ton, the highest to 9307 yuan / ton, the lowest to 9210 yuan / ton, and closed at 9263 yuan / ton, up 8 yuan, or 0.
09%.

The trading volume was reported 288426 lots, and the position decreased by 4522 lots to 423084 lots
.

News: The price of Yuyao PP market is up 50-150 yuan / ton, the market adjustment is volatile, and merchants are in a wait-and-see state
.
The price of PP in Guangzhou has partially fallen, and the market is waiting and seeing
.
Qilu Chemical City merchants offered part of the profit, the mainstream transaction price of wire drawing is 9050-9100 yuan / ton, the real transaction negotiation
.

Raw material price: naphtha CF Japan reported 677.
88 US dollars / ton, up 0.
82%; FOB Singapore was trading at $74.
88 a barrel, up 0.
83%.

South Korea's FOB propylene price was 1060 US dollars / ton, flat, and the domestic propylene price was 8305 yuan / ton, up 30 yuan
.

Spot prices: Southeast Asia was flat at $1260; The Far East was flat at $1,220 /
tonne.
Domestic: North China Qilu 9300 yuan / ton, flat; East China Sanyuan 9300 yuan / ton, up 50 yuan; South China Maoming reported 9800 yuan / ton, unchanged
.

The PP1809 contract was organized in a narrow range around the five-day moving average, and the position was slightly reduced
.
Fundamentally, crude oil trend is strong, equipment maintenance peak, spot prices higher to produce some support
.

On the technical side, MACD and KDJ indicators have signs of turning high, and short-term technical corrections
need to be prevented.
Operationally, it is recommended that investors wait and see for the time being
.

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