PP rushes back down and the upper pressure begins to appear

News: On May 9, the price of Yuyao PP market rose by 50-700 yuan / ton, the market adjustment fluctuated, and merchants were in a wait-and-see state
.
The price of PP market around the Central Plains has partially risen, and the market is waiting and seeing
.
The capacity utilization rate of petrochemical enterprises nationwide was 89.
3%, unchanged
from last week.
Petrochemical plant starts in all regions this week are stable, and capacity utilization is not much changed
.

Raw material price: naphtha CF Japan reported 656.
12 US dollars / ton, up 0.
38%; FOB Singapore was trading at $72.
46 a barrel, up 0.
54%.

South Korea's FOB propylene price was $1060 / ton, up $5, and the domestic propylene price was 8275 yuan / ton, flat
.

Spot price: Southeast Asia was quoted at $1220, flat; The Far East was flat at $1,220 /
tonne.
Domestic: North China Qilu 9250 yuan / ton, down 50 yuan; East China Sanyuan 9300 yuan / ton, up 50 yuan; South China Maoming reported 9800 yuan / ton, up 150 yuan
.

Summary of views: The PP1809 contract rushed back down, and the upward pressure began to appear
.
Fundamentally, crude oil trend is strong, device maintenance peak, spot prices higher to produce some support for the price, technically, MACD strong area operation, but KDJ has high signs of turning around, short-term need to guard against technical correction
.
In terms of operation, it is recommended that investors can reduce their holdings at a high price and take them back
after the return.