PP rebound blocked Volume increased slightly

News: The latest statistics from China Customs show that China's plastic products exports in June 2018 were 1.
185 million tons, an increase of 25,000 tons, an increase of 2.
16, and a year-on-year increase of 125,000 tons, an increase of 11.
79%.

From January to June, it was 6.
137 million tons
.
Compared with the same period last year, it increased by 537,000 tons, an increase of 9.
59%.

The export volume of plastic products increased year-on-year, indicating that so far, the export of plastic products has not been greatly affected by the Sino-US trade war
.

Raw material price: naphtha CF Japan reported 642.
75 US dollars / ton, down 1.
23%; FOB Singapore was trading at $70.
52 a barrel, down 1.
25%.

South Korea's FOB propylene price was 1035 US dollars / ton, flat, and the domestic propylene price was 8450 yuan / ton, up 125 yuan
.

Spot price: Southeast Asia was flat at $1250; The Far East was flat at $1225/mt
.
Domestic: North China Qilu 9100 yuan, flat; East China Sanyuan 9330 yuan / ton, up 30 yuan; South China Maoming no quote.

The PP1809 contract rebound was blocked, with a slight increase in volume and a significant increase in position
.
On the fundamentals, long and short coexist, the peak of device maintenance, the decline of social inventory and the futures price have produced certain support, but the escalation of the Sino-US trade war has generated certain pressure
.

On the technical side, the rise of the MACD red bar shows that there is still a rebound demand, but the KDJ indicator also shows signs of turning downward, indicating that there are short-term adjustment requirements, technical indicators produce analysis, combined with the increase of positions on the plate to adjust the trend, it is recommended that investors take advantage of the high to reduce their holdings
.