PP short-term shock finishing ended slightly lower

News: CNPC Northeast PP pellet injection molding rose by 300, pipes and fibers rose by 100, and others rose by 200
.
Sinopec East China Zhenhai, Yangzi wire drawing, injection molding, fiber rose 400 yuan / ton; Petrochemical inventories continued to decline, falling below 600,000 tons, and the ex-factory prices of some petroleum and petrochemical enterprises continued to rise, which played a strong supporting role in the market, but the downstream hesitation increased, the wait-and-see mood was strong, and the enthusiasm for procurement was significantly weakened
.

Raw material price: naphtha CF Japan reported 489.
5 US dollars / ton, -0.
83%; FOB Singapore is trading at $52.
5/b, -0.
94%.

ethylene CFR Northeast Asia 860 US dollars / ton, -2.
72%; CFR Southeast Asia was trading at $770/mt, -2.
53%.

South Korea's FOB propylene price is 855 US dollars / ton, +0%, and the domestic propylene price is 8325 yuan / ton, +0.
60%.

Spot price: Southeast Asia quoted at $1075, +0%; The Far East was quoted at $1,045 / ton, +0%.

Domestic: North China Qilu 9650 +2.
66%; East China Sanyuan 9650 yuan, -0.
52%; South China Maoming 9900 yuan, +0%.

PP1905 revolved around the short-term moving average and closed slightly lower
at the end.
The volume increased significantly, while the position volume decreased
slightly.
Fundamentally, the continued rapid recovery of domestic spot prices supported prices, but the resurgence of crude oil declines caused market concerns
.

Technically, MACD rose slightly, but the red bar was flat, and the KDJ median was flat, indicating a weakening
of the rebound.
Operationally, it is recommended that investors wait and see for the time being
.