PP opens high and low, and the pressure of the final short-term moving average

News: As of May, the capacity utilization rate of petrochemical enterprises nationwide was 90.
1%, down 1.
1%
from last week.
Regionally, the Zhenhai refining and chemical plant in East China was shut down for maintenance, and the capacity utilization rate declined, while the plant in other regions was stable, and the capacity utilization rate did not change much
.

Raw material price: naphtha CF Japan reported 662.
25 US dollars / ton, down 0.
34%; FOB Singapore was trading at $73.
38 a barrel, down 0.
34%.

South Korea's FOB propylene price was 1085 US dollars / ton, flat, and the domestic propylene price was 8275 yuan / ton, down 50 yuan
.

Spot price: Southeast Asia was flat at $1300; The Far East was flat at $1,250 / ton
.
Domestic: North China Qilu 9250 yuan / ton, flat; East China Sanyuan 9200 yuan / ton, up 50 yuan; South China Maoming reported 9600 yuan / ton, unchanged
.

The PP1809 contract opened high and went low, and the pressure
of the final short-term moving average.
Fundamentally, the peak of device maintenance and the decline of social inventory have produced some support for the futures price, but the high level of crude oil has fallen, and the loosening of spot prices has put certain pressure
on the price.

On the technical side, the MACD green column shortened and the KDJ also showed signs of a low turn, indicating short-term or rebound demand
.
Operationally, it is recommended that investors wait and see in the short term
.