echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > PP Narrow Finishing shows a weakening short-term trend

    PP Narrow Finishing shows a weakening short-term trend

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    The PP1901 contract opened at 9920 yuan, the highest as 10017 yuan, the lowest as 9890 yuan, and closed at 9984 yuan, up 32 yuan, or 0.
    32%.

    The trading volume was reported at 259940 lots, and the position decreased by 2940 lots to 469936 lots
    .

    PP

    News: The overall operating rate of the domestic polypropylene downstream industry this week was 64%, the same as last week; Among them, the average operating rate of plastic knitting enterprises above designated size was 62%, down 1.
    59% week-on-week; The operating rate of medium and large enterprises remained at 75%, down 2.
    60% week-on-week; Small business starts were at the 45% level, down 10%
    sequentially.
    The operating rate of injection molding enterprises was 70%, the same as last week, and the orders of injection molding enterprises continued to produce steadily, and the demand for end customers was stable
    .
    The operating load ratio of the inner membrane plant is maintained at about
    60%.
    Hebei Baoshuo stopped for maintenance on September 26 and is expected to restart on October 8; Zhejiang Kelly expects the National Day shutdown for 3-5 days, and the restart time is uncertain
    .

    Raw material price: naphtha CF Japan reported 716.
    88 US dollars / ton, up 0.
    51%; FOB Singapore was trading at $78.
    42 a barrel, up 0.
    50%.

    ethylene CFR Northeast Asia 1280 US dollars / ton, down 20 US dollars; CFR Southeast Asia was flat at $1160/mt
    .
    South Korea's FOB propylene price was 1135 US dollars / ton, flat, and the domestic propylene price was 9830 yuan / ton, flat
    .

    Spot prices: Southeast Asia was trading at $1240, flat; The Far East was flat at $1235/mt
    .
    Domestic: North China Qilu reported 10,700 yuan, up 100 yuan; East China Sanyuan 10,500 yuan, up 50 yuan; South China Maoming 10,600 yuan, flat
    .

    PP1901 is narrowly sorted, the trading volume and position volume are slightly reduced, and the pre-holiday atmosphere is strong
    .
    Fundamentally, the recovery of Asian spot prices has formed some support for futures prices, but the slow recovery of downstream demand has suppressed
    prices.

    Technically, the MACD indicator flattened above the central axis, the red bar shortened, and the KDJ indicator fell back from a high level, indicating a weakening
    short-term trend.
    In terms of operation, it is recommended that investors wait and see for the time being and wish a happy holiday!

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.