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PP was strong sideways and increased positions sharply

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

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The PP1809 contract opened at 9250 yuan / ton, the highest to 9340 yuan / ton, the lowest to 9220 yuan / ton, and closed at 9274 yuan / ton, up 63 yuan, or 0.
68%.

The volume was reported 400636 lots, and the position increased by 39770 lots to 449558 lots
.

News side: Yan'an Energy Chemical Company's 300,000 tons/year polypropylene unit extrusion granulator was successfully tested once, producing qualified polypropylene pellets, and the test was 9 days ahead of
schedule.
In the later stage, 1.
8 million tons of methanol and 450,000 tons of full-density ethylene plants are waiting to be commissioned
.

Raw material price: naphtha CF Japan reported 686.
75 US dollars / ton, up 1.
93%; FOB Singapore was trading at $75.
96 a barrel, up 1.
89%.

South Korea's FOB propylene price was 1070 US dollars / ton, flat, and the domestic propylene price was 8425 yuan / ton, up 50 yuan
.

Spot prices: Southeast Asia was flat at $1260; The Far East was quoted at $1230 / ton, up $10
.
Domestic: North China Qilu 9200 yuan / ton, flat; East China Sanyuan 9250 yuan / ton, up 30 yuan; South China Maoming reported 9600 yuan / ton, unchanged
.

The PP1809 contract traded sideways strongly, with a sharp rise in positions and a stronger
short-term trend.
Fundamentally, the peak of device maintenance has some support for the futures price, but the loosening of the spot price has put some pressure
on the price.

On the technical side, the moving average has re-supported the price, the downward momentum of MACD and KDJ has slowed down, and the correction is expected to end
.
In operation, it is recommended that investors can try long and stop loss 9200 in the 9250
line light position.

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