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PP volatility closed higher, long and short around 9000 fierce competition

 Last Update: 2022-12-10
 Source: Internet
 Author: User

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The PP1809 contract opened at 8950 yuan / ton, the highest to 9000 yuan / ton, the lowest to 8927 yuan / ton, closed at 8972 yuan / ton, up 19, or 0.
21%.

The volume decreased to 224,000 lots, and the open position increased by 1,804 lots to 352,000 lots
.

News side: Qilu Petrochemical (70,000 tons/year) plant produces EPS30R
.

Raw material prices: Japan naphtha CF Japan reported $626.
62 / ton, up $0.
5; naphtha FOB Singapore reported $69.
02 / barrel, up $
0.
18.
South Korea's FOB propylene price was $1045 / ton, down 5, and the domestic propylene price was 7930 yuan / ton, up 30
.

Spot prices: foreign spot market prices are temporarily stable, the Far East is flat at $1200 / ton, and China's CIF price is flat at $1200 / ton.

Prices on the domestic market rose in some regions; North China Qilu 8800 yuan / ton, flat; East China Ningbo 8980 yuan / ton, up 30; South China Maoming reported 9100 yuan / ton, up 50
.

As the United States may withdraw from the nuclear agreement and re-impose economic sanctions on Iran to support oil prices, most of the petrochemical companies are temporarily stable today, the market transaction situation is acceptable, and the speed of inventory consumption is good
.
At present, some manufacturers have stopped for maintenance, and the short-term supply reduction has supported the PP futures price
.

On the technical side, the PP1809 contract closed slightly higher, long and short around 9000 fierce competition, the upper test of the 60-day moving average pressure level, the lower daily systematic support is obvious, MACD red column volume, futures price short-term shock finishing trend
.
Operationally, trade
in the range 8860-9080.

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