PP volume increase position higher, short-term trend is expected to become stronger

News: In March 2018, China's PP production increased by 3.
39% month-on-month to 1.
5454 million tons, down 4%
year-on-year.
The total import volume of PP pellets in March was 433,100 tons, an increase of 62.
39% month-on-month, and the export volume was 39,900 tons, an increase of 133%
month-on-month.

Raw material prices: no new quotations for naphtha today, CF Japan reported 630.
25 US dollars / ton yesterday; FOB Singapore is trading at $69.
49 a barrel
.
South Korea's FOB propylene price was 1040 US dollars / ton, flat, and the domestic propylene price was 8175 yuan / ton, up 75 yuan
.

Spot price: Southeast Asia was quoted at $1220, flat; The Far East was flat at $1,200 / ton
.
Domestic: North China Qilu 8850 yuan / ton, up 50 yuan; East China Sanyuan 9100 yuan / ton, up 120 yuan; South China Maoming reported 9200 yuan / ton, up 100 yuan
.

PP1809 contract volume increased positions higher, closed successfully on the half-year line, short-term trend is expected to turn stronger
.
Fundamentally, crude oil is firm, and the peak of equipment maintenance has provided some support to prices, but short-term high inventories are still an uncertain factor
.

On the technical side, the KDJ low gold cross is up, and the MACD red bar is re-lengthened, indicating that the bulls have the advantage
.
However, considering that today's rise is too large, it is recommended that investors have more orders in their hands or a surge tomorrow, and can reduce their holdings
at the 9250-9300 line.