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PP rushed back down and increased positions during the session

 Last Update: 2022-12-10
 Source: Internet
 Author: User

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The PP1809 contract opened at 9285 yuan / ton, the highest to 9380 yuan / ton, the lowest to 9168 yuan / ton, and closed at 9188 yuan / ton, down 71 yuan, or 0.
77%.

The trading volume was reported at 453900 lots, and the position increased by 11232 lots to 434316 lots
.

News: The price of Yuyao PP market is up 50-150 yuan / ton, the market adjustment is volatile, and merchants are in a wait-and-see state
.
Shunde PP market price adjustment, the market waits and sees
.
The price of PP pellets in the Tianjin market is stable, and the mainstream price of wire drawing is 9050-9350 yuan / ton
.

Raw material price: naphtha CF Japan reported 676.
25 US dollars / ton, down 0.
24%; FOB Singapore was trading at $74.
82 a barrel, down 0.
08%.

South Korea's FOB propylene price was $1070 / ton, up $10, and domestic propylene price was 8315 yuan / ton, up 10 yuan
.

Spot prices: Southeast Asia was flat at $1260; The Far East was flat at $1,220 /
tonne.
Domestic: North China Qilu 9300 yuan / ton, flat; East China Sanyuan 9250 yuan / ton, down 50 yuan; South China Maoming reported 9600 yuan / ton, down 200 yuan
.

The PP1809 contract rushed back down, and the intraday volume increased positions, indicating that the upper pressure was heavy
.
Fundamentally, the peak of device maintenance has some support for the futures price, but crude oil has fallen back and the loosening of spot prices has put certain pressure
on the price.

On the technical side, the MACD red bar is shortened, the KDJ indicator is dead crossed downward, and there are short-term pullback requirements
.
Operationally, it is recommended that investors hold short orders with caution
.

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