PP rebounded slightly and barely stood above the short-term moving average in the final session

News side: PP prices of some petrochemical plants continue to fall, merchants operate cautiously, mainly ship with the market, the downstream wait-and-see atmosphere is still the same, the real order is difficult to transact at a high level, and the overall bearish atmosphere continues
.
The pricing of Petrochemical East China PP was reduced, Zhenhai M02 was reduced by about 150 yuan, and CNPC Northeast PP fiber materials Z30S and H39S-2 were reduced by 50; Drawing material Daqing Petrochemical T30S dropped 100
.

Raw material price: naphtha CF Japan reported 577.
25 US dollars / ton, -1.
64%; FOB Singapore is trading at $62.
14/b, -1.
82%.

ethylene CFR Northeast Asia 920 US dollars / ton, -0%; CFR Southeast Asia is trading at $835/mt, -0%.

South Korea's FOB propylene price is 1020 US dollars / ton, -0%, and the domestic propylene price is 9125 yuan / ton, -1.
09%.

Spot price: Southeast Asia quoted $1240, -0.
8%; The Far East was quoted at $1200 / ton, -0%.

Domestic: North China Qilu reported 10250 yuan, -0.
97%; East China Sanyuan 10400 yuan, +0.
97%; South China Maoming 10730 yuan, -0%.

PP1901 rebounded slightly, barely standing above the short-term moving average at the end, and the increase in trading volume and position was significantly amplified, indicating that the short-term is expected to stop falling
.
Fundamentally, crude oil pullback, propylene weakness, put pressure on
PP prices.
However, the low level of social inventory and the little supply pressure have formed a certain support
for prices.

Technically, the MACD median flattened, the green column shortened, and the KDJ low golden cross showed signs and diverged upward, indicating that there is a short-term rebound requirement
.
In operation, it is recommended that investors can set a stop loss in their hands and hold
them cautiously.