PP volatility closed higher and positions increased significantly

News side: CNPC South China part of copolymerization, injection molding increased by 50-200 yuan / ton; CNPC East China was listed and repriced
.
Futures prices are trending strongly, spot market prices mostly follow high reports, and the transaction is
acceptable.
The price of Yuyao PP market rose by 50-200 yuan / ton, the market wait-and-see atmosphere was not reduced, the demand wait-and-see atmosphere was strong, and the buying order was replenished on demand
.

Raw material price: naphtha CF Japan reported 672.
5 US dollars / ton, up 0.
17%; FOB Singapore was trading at $73.
82 a barrel, up 0.
12%.

South Korea's FOB propylene price was 1060 US dollars / ton, flat, and the domestic propylene price was 8675 yuan / ton, up 100 yuan
.

Spot price: Southeast Asia was quoted at $1230, flat; The Far East was trading at $1,200 a tonne, down $5
.
Domestic: North China Qilu no quotation; East China Sanyuan 9600 yuan, up 130 yuan; South China Maoming 9750 yuan, up 50 yuan
.

The PP1809 contract closed higher in volatility, and the position increased sharply (the main contract was moving forward to the 1901 contract).

Fundamentally, the obvious decline in social inventory and the firm spot price supported the price, but after continuous rise, there was a certain profit selling pressure
in the short term.

On the technical side, the MACD oscillation is higher, but the KDJ indicator continues to diverge, and there may be a technical correction
in the short term.
In terms of operation, it is recommended that investors set a long take profit in their hands, hold them cautiously, and those who are short positions do not chase higher
for the time being.