PP sideways deals and positions are slightly enlarged

News: In April 2018, the total import volume of PP pellets was 336,000 tons, down 22.
42% from the previous month, and the total export volume was 42,000 tons, an increase of 5.
26% from the previous month; In May 2018, the total import volume of PP pellets was 422,000 tons, an increase of 25.
59% month-on-month, and the total export volume was 38,000 tons, down 9.
52%
month-on-month.
From the above data, it can be seen that in April and May 2018, the total amount of PP imports increased month-on-month, and the increase in May was large
.
Exports decreased slightly, indicating that imported goods still had a certain impact
on the country.

Raw material price: naphtha CF Japan reported 661.
5 US dollars / ton, up 0.
23%; FOB Singapore was trading at $71.
62 a barrel, down 0.
9 percent
.
South Korea's FOB propylene price was $1060 / ton, up $5, and the domestic propylene price was 7925 yuan / ton, flat
.

Spot price: Southeast Asia was quoted at $1285, flat; The Far East was flat at $1,250 / ton
.
Domestic: North China Qilu 9050 yuan / ton, flat; East China Sanyuan no quotation; South China Maoming 9500 yuan, flat
.

The PP1809 contract was sideways, and the transaction and position were slightly enlarged
.
The fundamentals coexist with long and short, the central bank lowered the RRR, the peak of device maintenance, and the fall of social inventories to produce certain support, but the escalation of the Sino-US trade war and the loosening of spot prices put certain pressure
on prices.

On the technical side, the MACD green column turned red, and the KDJ indicator golden cross rose, indicating that the market is still expected to come out of the technical rebound
.
In terms of operation, it is recommended that investors hold long orders with 9175 as the stop loss level with caution
.