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PP trading volume increased, showing a volatile finishing

 Last Update: 2022-12-09
 Source: Internet
 Author: User

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The PP1805 contract opened at 8517 yuan / ton, the highest was 8640 yuan / ton, the lowest was 8515 yuan / ton, and closed at 8609 yuan / ton, up 76, or 0.
89%.

The trading volume increased to 263,000 lots, and the open position decreased by 22,612 lots to 380,000 lots
.

News side: Qilu Petrochemical (70,000 tons/year) plant produces QPR01
.

Raw material prices: Japan naphtha CF Japan was at $601.
12 / ton, up 5.
24; naphtha FOB Singapore was at $65.
85 / barrel, up 0.
58
.
Domestic propylene prices were 7430 yuan / ton, up 5
.

Spot prices: foreign spot market prices are temporarily stable, the Far East is flat at $1185 / ton, and China's CIF price is flat at $1185 / ton.

Falling prices in the domestic market; North China Qilu 8450 yuan / ton, flat; East China Ningbo 8550 yuan / ton, flat; South China Maoming reported 8900 yuan / ton, down 50
.

The morning price fluctuated and sorted out, and the price rose rapidly in the late afternoon
.
The domestic PP spot market transaction is general, petrochemical prices are lowered, the wait-and-see atmosphere is strong, the terminal is cautious, and the downstream factories have resumed work slightly, but the inventory consumption rate is slow
.

On the technical side, the volume of PP1805 contracts increased, the MACD green column contracted, and there was strong support
below 8500.
However, the systematic suppression of the daily chart still limited its rebound range, and the PP1805 contract showed a volatile finishing trend
in the short term.
Operationally, trade
in the range of 8500-8820.

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