PP sideways The power of long and short is not much different

News side: petrochemical price support, cost driven, film prices generally higher, the upward adjustment range in the range of 200-400 yuan / ton, the actual transaction price followed by the upward trend, film enterprises new order transaction pressure is greater, some manufacturers due to higher inventory, there is a phenomenon of clearing inventory, and the purchase of raw materials and gross profit in the field have declined
compared with before.

Raw material prices: naphta CF Japan reported 590.
62 US dollars / ton, down 1.
93%; FOB Singapore was trading at $65.
42 a barrel, down 2.
1 percent
.
South Korea's FOB propylene price was $1,000 / ton, flat, and domestic propylene was 7,825 yuan / ton, up 75 yuan
.

Spot prices: Southeast Asia was flat at $1230/ton, and China's CIF price was flat at $1185/ton
.
North China CNPC T30S reported 8650 yuan / ton, up 50 yuan; East China Shaoxing Sanyuan T30S reported 8800 yuan / ton, down 50 yuan; South China Maoming T30S reported 9300 yuan / ton, down 50 yuan
.

The PP1809 contract relies on the lower moving average to move sideways, and the long and short forces are almost the same
.
Fundamentally, the off-season of downstream demand may suppress prices to a certain extent, but the recent acceleration of destocking will support prices
.

Technically, the MACD low gold cross is to the upside, but the KDJ indicator has bounced back into the high area
.
In terms of operation, investors can hold long orders cautiously, and short positions can open long PP1809 contracts at a low level with a stop loss of 8800 yuan
.