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The PP1901 contract opened at 10170 yuan, the highest was 10235 yuan, the lowest was 10142 yuan, and closed at 10166 yuan, down 24 yuan, or 0.
24%.
The trading volume was reported at 311340 lots, and the position volume decreased by 5030 lots to 468476 lots
.
News side: According to attendees at PACK EXPO International, the North American packaging industry will see strong growth over the next 10 years, and materials expected to drive this growth include PET and PE.
According to the 2018 Beverage Trends Report released by the Packaging and Processing Technology Association, the beverage industry is expected to grow by 4.
5% to $45.
5 billion
by 2028.
According to PMMI's survey report, in 2008, plastics accounted for 45% of beverage packaging materials - by 2028, this number is expected to grow to 55%.
Over the next 10 years, plastic beverage packaging for wine (100%), bottles (37%) and bags (45%) is expected to grow
significantly.
In addition, Ron Puvak, managing director of the Contract Packers and Manufacturers Association, said that with packaging types not limited to beverages, global rigid plastics are expected to grow by 5.
7% per year to $250 billion by 2020, while flexible packaging and film are expected to grow by 4.
4% to $200 billion per year
.
By 2019, pet demand is expected to grow at an annual rate of 4.
6% to reach $
60 billion.
Raw material price: naphtha CF Japan reported 685.
75 US dollars / ton, -0.
49%; FOB Singapore is trading at $74.
44/b, -0.
51%.
ethylene CFR Northeast Asia 1100 US dollars / ton, -1.
79%; CFR Southeast Asia was trading at $1,010/mt, -0.
98%.
South Korea's FOB propylene price is 1150 US dollars / ton, +0%, and the domestic propylene price is 10025 yuan / ton, -0.
50%.
Spot price: Southeast Asia quoted $1250, +0%; The Far East reported $1250 / ton, +0%.
Domestic: North China Qilu reported 11,100 yuan, -0.
89%; East China Sanyuan 10900 yuan, -1.
36%; South China Maoming 11200 yuan, -0%.
The PP1901 rally was blocked, the trading volume was significantly reduced, and the position volume also shrank
slightly.
Fundamentally, the continued low level of spot inventory has formed a certain support for the futures price, but the spot and propylene prices are loose, the profits of downstream enterprises are compressed, the goods are not active, and the market transaction is light and suppresses
the price.
Technically, MACD high dead cross, red column continues to shorten, KDJ indicator high turn down, showing short-term adjustment requirements
.
In terms of operation, it is recommended that investors set a take profit in their hands and hold
them cautiously.
