PP sideways The volume silo continues to shrink

News: reported on March 30: Yuyao PP market price rose by about 100 yuan / ton, the bullish atmosphere in the market was strong, the real market talked, and the factory was wait-and-see
.
Shenhua coal chemical PP bid 5,032 tons today, down from yesterday, with a volume of 4,790 tons, an increase from yesterday, with a transaction ratio of 95.
19%.

Raw material prices: naphtha CF Japan reported 607 US dollars / ton, up 0.
75%; FOB Singapore was trading at $66.
82 a barrel, up 1.
09%.

South Korea's FOB propylene price was $1,000 / ton, down $10, and domestic propylene was 7,480 yuan / ton, up 50 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 8500 yuan / ton, unchanged; East China Shaoxing Sanyuan T30S reported 8700 yuan / ton, up 100 yuan; South China Maoming T30S reported 9200 yuan / ton, up 150 yuan
.

The PP1805 contract relied on the 10-day moving average to move sideways, and the volume position continued to shrink, indicating that funds were out of the market
.
Fundamentally, the slow digestion of traders' inventories, and the sluggish demand of downstream products enterprises have suppressed prices to a certain extent, but after a continuous decline, there are signs of
overselling in the short term.
Technically, MACD low golden cross, KDJ indicator golden cross diverges upward, short-term may need
to rebound.
Operationally, it is recommended that investors reduce their positions on short orders in their
hands.