PP rebound blocked Long and short forces temporarily balanced

News: According to statistics from professional institutions: China's PP production in July 2018 increased by 4.
77% month-on-month to 1.
6305 million tons, an increase of 13.
56%
year-on-year.
As of September 4, the capacity utilization rate of PP petrochemical enterprises nationwide was 89.
97%, the same
as last week.
The operation of petrochemical plants in various regions is stable, and the capacity utilization rate has not changed much
.

Raw material price: naphtha CF Japan reported 679.
25 US dollars / ton, down 2.
07%; FOB Singapore was trading at $74.
07 a barrel, down 2.
23%.

South Korea's FOB propylene price was 1085 US dollars / ton, flat, and the domestic propylene price was 9325 yuan / ton, flat
.

Spot price: Southeast Asia reported $1245, up $5; The Far East was quoted at $1215 / ton, up $10
.
Domestic: North China Qilu reported 9930 yuan, flat; East China Sanyuan 9830 yuan, up 30 yuan; South China Maoming 10,100 yuan, up 100 yuan
.

The PP1901 contract rebound was blocked, the position increased slightly, and the long and short forces were temporarily balanced
.
Fundamentally, the decline in social inventories has formed a certain support for futures prices, but the loosening of spot prices has suppressed futures prices
.

Technically, the MACD indicator oscillated and retreated, but the green bar narrowed, and the KDJ indicator diverged low and crossed upward, and there may be a rebound
in the short term.
In terms of operation, it is recommended that prudent investors take profit on the low and fall their pockets, and aggressive investors can set a stop loss and try to grab a rebound
on the low position.