PP opened high and went high, and the trading volume shrank sharply

News: According to the statistics of professional institutions: as of July 11, the domestic major petrochemical and petroleum inventories of polypropylene decreased by 5.
36% from last week, traders' inventories decreased by 4.
67% from last week, and the overall inventory decreased by 5.
21%
from last week.
The enthusiasm of agents to open orders is not reduced, the terminal just needs to receive goods, and the decline in social inventory supports the price
.

Raw material price: naphtha CF Japan reported 650.
75 US dollars / ton, down 2.
42%; FOB Singapore was trading at $71.
41 a barrel, down 2.
25 percent
.
South Korea's FOB propylene price was 1035 US dollars / ton, flat, and the domestic propylene price was 8325 yuan / ton, up 50 yuan
.

Spot price: Southeast Asia was flat at $1250; The Far East was flat at $1225/mt
.
Domestic: North China Qilu 9100 yuan, flat; East China Sanyuan 9300 yuan / ton, up 60 yuan; South China Maoming 9500 yuan, flat
.

The PP1809 contract opened higher and went higher, and the trading volume shrank
sharply.
On the fundamentals, long and short coexist, the peak of device maintenance, the decline of social inventory and the futures price have produced certain support, but the escalation of the Sino-US trade war has generated certain pressure
.

On the technical side, the MACD red column rose, and the KDJ indicator also fluctuated higher, which is conducive to the continuation of
the rebound.
Operationally, it is recommended that investors pay attention to whether the pressure on the 9380 line can be broken
.