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PP volatility is lower, and the amount of position is significantly reduced

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

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The PP1809 contract opened at 9308 yuan / ton, the highest to 9308 yuan / ton, the lowest to 9188 yuan / ton, and closed at 9227 yuan / ton, down 76 yuan, or 0.
04%.

The trading volume was reported 246038 lots, and the position decreased by 14816 lots to 427364 lots
.

News side: Yuyao PP market price fell 30-100 yuan / ton, the market transaction is general, high open low go, merchants let profits promote transactions
.
The price of Guangzhou PP market is adjusted, and the market is waiting and seeing
.
Qilu Chemical City PP grain price adjustment, merchant offer part down, drawing mainstream quotation or 9000-9250 yuan / ton, real transaction negotiation
.

Raw material price: naphtha CF Japan reported 702.
38 US dollars / ton, up 1.
37%; FOB Singapore was trading at $77.
91 a barrel, up 1.
59%.

South Korea's FOB propylene price was 1070 US dollars / ton, flat, and the domestic propylene price was 8575 yuan / ton, up 35 yuan
.

Spot prices: Southeast Asia was flat at $1260; The Far East was quoted at $1255 / ton, up $10
.
Domestic: North China Qilu 9250 yuan / ton, flat; East China Sanyuan 9250 yuan / ton, flat; South China Maoming reported 9600 yuan / ton, unchanged
.

The PP1809 contract fluctuated lower, and the position volume decreased
significantly.
Fundamentally, the peak of device maintenance and the decline of social inventory obviously have some support for the futures price, but the loosening of spot prices has put certain pressure on the price, and on the technical side, the MACD red column is flat, the KDJ shock is lower, and the short-term trend is still weak
.
Operationally, it is recommended that investors trade
in the range of 9150-9350.

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