PP opened slightly higher and sold more than one hedge

News: With the boost of futures, the price of petrochemical plants has been raised, market enthusiasm has been boosted, downstream factories have entered the market for procurement, the trading atmosphere is better, and the market bullish atmosphere is strong
.
The prices of pellets of Sinopec, PetroChina and coal enterprises have been raised, ranging from 100-250 yuan / ton, forming a strong support
for the domestic PP market.

Raw material prices: naphtha CF Japan reported 579.
25 US dollars / ton, down 0.
6%; FOB Singapore was trading at $63.
8 a barrel, down 0.
61 percent
.
South Korea's FOB propylene price was $1030 / ton, up $30, and domestic propylene was 8075 yuan / ton, flat
.

Spot prices: Southeast Asia was flat at $1240/ton, and China's CIF price was $1195/ton, down $
5.
North China CNPC T30S reported 8750 yuan / ton, unchanged; East China Shaoxing Sanyuan T30S reported 9,000 yuan / ton, up 50 yuan; South China Maoming T30S reported 9200 yuan / ton, flat
.

The PP1809 contract opened slightly higher, basically fluctuating slightly around the opening price throughout the day, and the final session was still subject to the pressure
of the half-year period.
Fundamentally, social inventories are still high or suppress prices to a certain extent, but crude oil will rebound strongly tomorrow, and the speed of downstream destocking has accelerated in the near future, which is expected to form some support
for prices.

Technically, MACD and KDJ indicators are bullish and diverge upward, and the rebound is expected to continue, but the pressure on the 9160 line is also greater
.
In terms of operation, investors are mostly selling at the expense of high holdings, locking in
profits.