PP opened slightly higher and locked in profits

News: Shanghai market PP offer slightly up 50 yuan / ton, futures opened high and fell, dragging down market sentiment, but due to yesterday's trading support, traders have no intention of cutting prices, buying wait-and-see
.
PP merchants in Qilu Chemical City offered some of the rise, and the mainstream trading price of wire drawing was 8750-8900 yuan / ton, and the real transaction was negotiated
.
The market price of Yuyao PP rose slightly by 50 yuan / ton, and the high-price transaction was blocked, and there would be a profit in the real single talk, generally in the range of 50 yuan / ton
.

Raw material prices: naphta CF Japan reported 592.
75 US dollars / ton, up 2.
33%; FOB Singapore was trading at $65.
29 a barrel, up 2.
34%.

South Korea's FOB propylene price was 1030 US dollars / ton, flat, and domestic propylene 8175 yuan / ton, up 100 yuan
.

Spot prices: Southeast Asia was flat at $1240/ton, and China's CIF price was $1200/ton, up $
5.
North China CNPC T30S reported 8750 yuan / ton, unchanged; East China Shaoxing Sanyuan T30S reported 9050 yuan / ton, up 50 yuan; South China Maoming T30S due to the conversion of the device, there is no quotation
.

The PP1809 contract opened slightly higher, maintained a weak finishing pattern throughout the day, and fell slightly at the end, indicating that the short-term is still subject to the pressure of the
half-year line.

Fundamentally, social inventories are still high or suppress prices to a certain extent, but crude oil has rebounded strongly, and the speed of downstream destocking has accelerated recently, which is expected to form some support
for prices.

Technically, the MACD indicator has a low golden cross and diverges upwards in a long arrangement, but the KDJ indicator has entered the high area, beware of short-term technical adjustments
.
In terms of operation, investors are more likely to reduce their holdings at high prices, locking in
profits.