PP volatility closed down It is recommended to trade long on dips in the range

Raw material prices: Japan naphtha CF Japan reported 462.
62 yuan / ton, down 3.
76; naphtha FOB Singapore reported 50.
02 US dollars / barrel, down 0.
41
.
ethylene CFR Northeast Asia 1155 US dollars / ton, down 10; CFR Southeast Asia was trading at $1,060 a tonne, down 20
.
The CIF price of propylene in China was $900/ton, up 5
.

Spot prices: foreign spot market prices rose slightly, the Far East was quoted at $1040 / ton, up 10, and China's CIF price was reported at $1040 / ton, up 10
.
Domestic market prices were basically flat; East China Ningbo 8250 yuan / ton, down 100; South China Maoming reported 8550 yuan / ton, up 50
.

News side: 1.
CNPC Northwest PP granules are listed by 100-200, and Ningxia T30S is listed with 8200; Lanzhou T30S hanging 8250; EPS30R hanging 8900; K8003 hangs 8900, Langang H9018 hangs 8800, Lanzhou BH premium hangs 8600, the above prices are Lanzhou library prices
.

In the short term, after the price correction, the sentiment of taking goods at low prices downstream increases
.
The device entered the maintenance season, the overall operating rate fell, the market supply pressure was slightly eased, the import and export trade was inverted by the internal and external price difference, the export demand increased, in the short term under the slowdown in the supply growth rate, the social inventory fell slightly, and the petrochemical factory price stabilized, but the inventory pressure was still large, limiting its upside
.
Technically, the PP1705 contract closed down in shock, testing the pressure around 8500 above, testing the 8150 integer mark support below, and it is expected to maintain a strong shock in the 8150-8500 range in the short term, and it is recommended to trade long in the range
.