PP narrow finishing The position volume increased significantly

News: As the global trade war heats up, Celanese has raised the prices
of its products including polypropylene-based long-fiber thermoplastic materials and PET and PET engineering resin composites since August 23.
Celanese said that due to the continued rise in global raw material costs and the 25% tariff imposed by the U.
S
.
Trade Representative on PBT and PET products imported from China to the United States, the company's related product prices have increased accordingly.
The price of PBT and PET materials sold in the Americas rose by 25%.

In Europe, the price of these materials rose by 0.
13 euros/kg, and in Asia outside China, the price of these products increased by 15 cents/kg
.

Raw material price: naphtha CF Japan reported 61.
62 US dollars / ton, up 0.
16%; FOB Singapore was trading at $74.
43 a barrel, up 0.
36%.

South Korea's FOB propylene price was $1085 / ton, down $5, and the domestic propylene price was 9325 yuan / ton, flat
.

Spot prices: Southeast Asia was trading at $1240, flat; The Far East was trading at $1205 a tonne, down $5
.
Domestic: North China Qilu reported 9930 yuan, flat; East China Sanyuan 9850 yuan, up 100 yuan; South China Maoming 10,000 yuan, flat
.

The PP1901 contract was sorted out in a narrow range, and the position volume increased
significantly.
Fundamentally, the decline in social inventories has formed a certain support for futures prices, but the loosening of spot prices has suppressed futures prices
.

Technically, the MACD indicator oscillated and retreated, but the green bar flattened, and the KDJ indicator diverged from the low level, and there may be a rebound
in the short term.
In terms of operation, it is recommended that investors take profit on the low order and drop the bag for safety
.