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The PP2009 contract rose slightly on Wednesday, and the futures price closed at 7513 yuan / ton, +99 yuan from the previous trading day; Volume 603942 lots, +459; position 445990 lots, +26096 lots, basis 337 yuan, -20 yuan; 9-1 spread 359 yuan, +33 yuan
.
News: Shenhua coal chemical PP auctioned 2925.
125 tons today, down 500.
1 tons from yesterday; the trading volume was 1641 tons, down 814.
75 tons from yesterday, and the transaction rate was 56.
1%, down 15.
6% from yesterday
Today's two oil and petrochemical inventories reported 725,000 tons, down 50,000 tons
from yesterday.
Spot market: CNPC North China transparent and wire drawing rose 100 yuan / ton, film material part adjusted 100 yuan / ton, CNPC Northeast wire drawing adjustment 100-200 yuan / ton, film material increased 100 yuan / ton, Dalian organic fiber rose 200 yuan / ton; CNPC Southwest Fiber rose 100 yuan / ton; Petrochemical South China copolymer is individually increased by 100-150; Pipes are individually increased by 200-250
.
Domestic PP market prices continue to fluctuate upward, petrochemical inventory digestion is smooth, the price is obvious, merchants follow the market offer, the downstream is slightly resistant to high prices, maintain rigid demand, and the overall trading is stable
.
The mainstream of market wire drawing is 7650-8000 yuan / ton
Warehouse receipt inventory: Exchange warehouse receipts reported 335 lots, today -0 lots
.
Main position: The top 20 long positions in the main contract are 308531 lots, +18919 lots, short positions are 258885 lots, +15196 lots, and the net position is 49646 lots, a net long increase
.
As the easing of the overseas epidemic has boosted market confidence, major oil producers have extended the production cut period, and the EIA raised crude oil demand forecast to support
the market.
Fundamentally, the significant increase in cracker production in Asia in June is expected to suppress
the price of propylene.
The operating rate of domestic polypropylene enterprises rebounded slightly last week, and it is expected that the operating rate will continue to rise this week, and domestic supply may increase
.
However, crude oil is firm, and June is still the peak period for PP plant maintenance, and the market supply will be reduced, which will provide some support
to prices.
