PP volatility lower, short-term trend weakened

News: Since China banned the import of foreign garbage, Vietnam's new port Cai Mei International Port Terminal and Gloria Port have almost been flooded with foreign garbage, resulting in congestion in the port area
.
Based on this, Vietnam decided to suspend the import of waste plastics from mid-June, while restricting the import of
waste paper.
In the first quarter of 2018, US traders exported about 157,000 tons of waste paper to Vietnam, an increase of 203.
51% over 2017! In order to prevent foreign garbage from entering the country, Vietnam began to conduct 100% inspection
of waste paper and waste plastic.

Raw material price: naphtha CF Japan reported 649.
88 US dollars / ton, down 1.
52%; FOB Singapore was trading at $71.
76 a barrel, down 1.
97%.

South Korea's FOB propylene price was $1075 / ton, down $5, and the domestic propylene price was 8225 yuan / ton, flat
.

Spot price: Southeast Asia was flat at $1300; The Far East was quoted at $1250 / ton, up $
50.

Domestic: North China Qilu 9250 yuan / ton, flat; East China Sanyuan 9270 yuan / ton, up 20 yuan; South China Maoming reported 9650 yuan / ton, flat
.

The PP1809 contract fluctuated lower, breaking through many moving averages during the session, and the short-term trend weakened
.
Fundamentals coexist long and short, device maintenance peak, social inventory fall to produce some support for the futures price, but spot price loosening on the price to produce a certain pressure, technically, MACD has green column reappear, KDJ low high flat, indicating that the rebound or will end
.
In terms of operation, it is recommended that investors set a take profit in their hands and hold
them cautiously.