PP narrow range finishing short-term weakness remains

News: At the end of June, Fujian United Petrochemical successfully produced a new polypropylene thin-wall injection molding product 1148TC, filling the gap in the thin-walled injection molding raw material market in Fujian, and Fujian customers can realize nearby procurement and reduce logistics costs
.
The new polypropylene thin-walled injection molding product 1148TC produced this time has the advantages of odorless, transparent, good toughness and good fluidity, and the downstream customers have successfully produced high-quality disposable lunch boxes after trial, and the products have been highly recognized
by customers.

Raw material price: naphtha CF Japan reported 661.
75 US dollars / ton, down 0.
68%; FOB Singapore was trading at $72.
54 a barrel, down 0.
73%.

South Korea's FOB propylene price was 1060 US dollars / ton, flat, and the domestic propylene price was 8125 yuan / ton, flat
.

Spot price: Southeast Asia was flat at $1265; The Far East was flat at $1230/mt
.
Domestic: North China Qilu 9100 yuan / ton, flat; East China Sanyuan 9150 yuan / ton, flat; South China Maoming 9400 yuan, down 100 yuan
.

PP1809 contract in a narrow range, intraday contraction and position reduction, short-term weakness remains
.
The fundamentals coexist with long and short, the central bank lowered the RRR, the peak of device maintenance, and the fall of social inventories to produce certain support, but the escalation of the Sino-US trade war and the loosening of spot prices put certain pressure
on prices.

On the technical side, the MACD red bar is shortened, and the KDJ indicator shows signs of turning to the downside, indicating that the rally may be over
.
In terms of operation, it is recommended that investors set a take profit in their hands and hold
them cautiously.