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PP rushed back down, and shorts do not chase higher for the time being

 Last Update: 2022-12-11
 Source: Internet
 Author: User

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The PP1809 contract opened at 9520 yuan / ton, the highest was 9549 yuan / ton, the lowest was 9476 yuan / ton, and closed at 9485 yuan / ton, down 20 yuan, or 0.
21%
per day.
The trading volume was reported 156234 lots, and the position decreased by 26202 lots to 403632 lots
.

News: Yuyao PP market price rose by 20-150 yuan / ton, the market wait-and-see atmosphere is not reduced, the demand wait-and-see atmosphere is strong, and the buying order needs to replenish the warehouse
.
Guangzhou merchants offered prices up, and the mainstream quotation of wire drawing was 9000-9400 yuan / ton, and the real transaction was negotiated
.

Raw material price: naphtha CF Japan reported 653.
62 US dollars / ton, up 0.
96%; FOB Singapore was trading at $71.
81 a barrel, up 0.
97%.

South Korea's FOB propylene price was 1060 US dollars / ton, flat, and the domestic propylene price was 8475 yuan / ton, flat
.

Spot prices: Southeast Asia was trading at $1240, flat; The Far East was flat at $1,205 /
tonne.
Domestic: North China Qilu 9300 yuan, up 50 yuan; East China Sanyuan 9500 yuan, up 20; South China Maoming 9700 yuan, flat
.

The PP1809 contract rushed higher and retreated
.
During the maintenance period of the device, the decline in social inventory, and the firm spot price supported the price, but the escalation of the Sino-US trade war produced certain pressure
.

On the technical side, the KDJ indicator shows signs of divergence, short-term or technical correction
.
In terms of operation, it is recommended that investors set a long take profit in their hands, hold them cautiously, and those who are short positions do not chase higher
for the time being.

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