PP rebounded slightly The short-term trend is still weak

News side: PP market: Sinopec East China lowered 100-150 yuan / ton; CNPC South China wire drawing and film material reduced by 50-150 yuan / ton; CNPC Southwest was listed for sale at a higher price, and H9018 was raised by 100 yuan / ton to 10500
.
Today's futures opened low, some petrochemical manufacturers lowered prices, the market mostly followed a slight decline, but the downstream wait-and-see attitude is still holding a wait-and-see attitude, and the transaction is general
.

Raw material price: naphtha CF Japan reported 658.
88 US dollars / ton, up 0.
5%; FOB Singapore was trading at $71.
73 a barrel, up 0.
36%.

South Korea's FOB propylene price was $1095 / ton, down $5, and the domestic propylene price was 9450 yuan / ton, down 75 yuan
.

Spot price: Southeast Asia was flat at $1235; The Far East was at $1210 a tonne, down $10
.
Domestic: North China Qilu reported 9930 yuan, flat; East China Sanyuan 9840 yuan, flat; South China Maoming 10,000 yuan, flat
.

The PP1901 contract rebounded slightly, with a significant reduction in holdings, and the short-term trend remained weak
.
Fundamentally, social inventories have rebounded, and spot prices have loosened to suppress
futures prices.

Technically, the MACD indicator has a dead cross at a high level and diverges downward, but the KDJ indicator shows signs of flattening at a low level, and the technical signals diverge
.
In operation, it is recommended that investors set short orders and take profit and hold
them cautiously.