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The PP1809 contract opened at 9150 yuan / ton, the highest to 9160 yuan / ton, the lowest to 9051 yuan / ton, and closed at 9061 yuan / ton, down 82 yuan, or 0.
90%.
The volume was reported 216464 lots, and the position increased by 4780 lots to 397602 lots
.
News: The price of PP granules in Qilu Chemical City fell, the merchants offered part of the profit, the mainstream quotation of wire drawing was 9000-9250 yuan / ton, and the real transaction was negotiated
.
The market price of Yuyao PP was reduced by 50-100 yuan / ton, the downstream receiving capacity was weak, the market wait-and-see atmosphere was strong, and the buying order was replenished on demand
.
The price of Shantou PP market excluding tax was narrowly reduced, and the market was obviously wait-and-see, and the terminal transaction was average
.
Raw material price: naphtha CF Japan reported 630.
75 US dollars / ton, up 0.
40%; FOB Singapore was trading at $69.
24 a barrel, down 0.
01%.
South Korea's FOB propylene price was 1070 US dollars / ton, flat, and the domestic propylene price was 8325 yuan / ton, down 50 yuan
.
Spot price: Southeast Asia reported $1295, down $10; The Far East was flat at $1,250 / ton
.
Domestic: North China Qilu 9100 yuan / ton, down 100 yuan; East China Sanyuan 9180 yuan / ton, flat; South China Maoming 9500 yuan, up 50 yuan
.
The PP1809 contract was volatile lower, closing below the 60-day line at the end, indicating that the short-term trend is still weak
.
On the fundamentals, long and short coexist, the peak of device maintenance, the decline in social inventory and the futures price have produced certain support, but the escalation of the Sino-US trade war and the loosening of spot prices have put certain pressure
on prices.
On the technical side, the MACD dead cross is down, and the KDJ indicator shows signs of oversold, indicating that there is still a pullback requirement in the mid-term, but the short-term need to be wary of technical rebounds
.
In terms of operation, short orders in the hands of prudent investors can be closed on the dip, and short orders in the hands of aggressive investors can be set to take profit, holding cautiously, and it is not appropriate to take the bottom in the
short term.
