PP volatility went lower and intraday volume increased positions

News: Propylene FOB South Korea closed at $1050 / ton on the 19th, up $20 / ton from last week; CFR China closed at $1,090/mt, up $50/mt
from last week.
This week's shipping schedule from Japan and South Korea to China is mainly to fulfill the long contract, and the trade cargo is small, and the centralized maintenance of SC equipment in Japan and South Korea in the second quarter is the main reason
for this situation.
In addition, driven by the rapid rise in China's propylene prices, the Northeast Asian dollar rose accordingly
.
However, with the start-up of China's three-circle and satellite propane dehydrogenation units, its demand for extraterritorial propylene will decrease
.

Raw material prices: Japan naphtha CF Japan reported 617.
5 US dollars / ton, up 2.
11%; Naphtha FOB Singapore was trading at $68 a barrel, up 2.
04%.

South Korea's FOB propylene price was 1050 US dollars / ton, flat, and the domestic propylene price was 8065 yuan / ton, down 10 yuan
.

Spot price: Southeast Asia was flat at $1235; The Far East was flat at $1210/mt
.
Domestic: North China Qilu 8750 yuan / ton, flat; East China Sanyuan 8950 yuan / ton, flat; South China Maoming reported 9200 yuan / ton, unchanged
.

The PP1809 contract fluctuated lower, and the intraday volume increased positions, indicating that there were short funds entering the market to suppress
.
Fundamentally, spot prices are stable or have some support for prices, but slow inventory digestion is still a major factor
restricting the rebound of futures prices.
On the technical side, the KDJ oscillation retreated, and the MACD red bar became shorter, indicating that short-term bears have the advantage
.
Operationally, investors can sell short
on a rebound.