PP opened slightly higher and moved sideways around the intraday moving average

News: From January to June 2018, the cumulative output of plastic products in industrial enterprises above designated size in China was 31.
583 million tons, a year-on-year increase of 1.
6%.

From the perspective of demand, China's per capita plastic consumption is still far behind
that of developed countries in the world.
Our country is only 30:70, which is less than the world average of 50:50, and far less than the 70:30 of developed countries such as the United States and the 63:37
of Germany.
In the future, with the technological progress and consumption upgrading of modified plastics in China, China's plastic products need to maintain a growth rate
of more than 10%.

Raw material price: naphtha CF Japan reported 686.
5 US dollars / ton, up 1.
22%; FOB Singapore was trading at $74.
52 a barrel, up 1.
09%.

South Korea's FOB propylene price was $1110 / ton, up $20, and the domestic propylene price was 9275 yuan / ton, flat
.

Spot price: Southeast Asia reported $1235, down $10; The Far East was flat at $1,220 /
tonne.
Domestic: North China Qilu reported 10,000 yuan, down 30 yuan; East China Sanyuan 10,000 yuan, up 80 yuan; South China Maoming 10,100 yuan, flat
.

PP1901 opened slightly higher, trading sideways around the intraday moving average throughout the day, and the position increased
slightly.
Fundamentally, the decline in social inventory has formed a certain support for the futures price, but the downstream demand has not kept up in time, and the loosening of spot prices has formed a certain pressure
on the futures price.

Technically, the MACD indicator has flattened the central axis, and the KDJ indicator has turned downward, indicating a rebound or dying
.
Operationally, it is advisable
for investors to wait and see for the time being.