PP rally blocked Volume decreased significantly

News side: The supply and demand pattern of the PP market has changed this week, with the reduction of maintenance, the supply side gradually recovers, and the market offer is weak
.
Due to the high price on the demand side, the market transaction is not smooth, and some low-end supplies in Southeast Asia are flooding the market, merchants have a certain panic mentality, and the offer gradually declines
.
In the future, PP oil still has support intentions, and the short-term PP market is mainly resistant to the downward trend
.
As of October 18, the mainstream price of wire drawing was 10850-11000 yuan / ton, and the mainstream price of copolymerization was 11150-11600 yuan / ton
.

Raw material price: naphta CF Japan reported 675.
25 US dollars / ton, -3.
21%; FOB Singapore is trading at $73.
2/b, -3.
3%.

ethylene CFR Northeast Asia 1100 US dollars / ton, -0%; CFR Southeast Asia is trading at $1,010/mt, -0%.

South Korea's FOB propylene price is 1135 US dollars / ton, -0%, and the domestic propylene price is 9825 yuan / ton, -1.
01%.

Spot price: Southeast Asia reported $1260, +0%; The Far East reported $1250 / ton, +0%.

Domestic: North China Qilu reported 10950 yuan, -1.
35%; East China Sanyuan 10900 yuan, +0.
18%; South China Maoming 11050 yuan, -1.
34%.

The PP1901 rally was blocked, trading volume was greatly reduced, and holdings also shrank
.
Fundamentally, the low level of social inventory and the little supply pressure have formed a certain support for the price, but the spot and propylene prices are loose, the downstream enterprises are not active in taking goods, and the market transaction is light to suppress
the price.

Technically, MACD high dead cross, green column growth, KDJ indicator oscillation downward, indicating short-term adjustment requirements
.
In terms of operation, it is recommended that investors set a take profit in their hands and hold
them cautiously.