PP weak finishing Volume shrank sharply

News: From January 1, 2019, 16 kinds of solid waste will be transferred from the "Catalogue of Solid Wastes that Can be Used as Raw Materials for Restricted Imports" to the "Catalogue of Prohibited Solid Wastes", and later waste plastic products will be withdrawn from the solid waste audit list, and the era of comprehensive domestic waste ban is coming
.
This means that nearly 7 million tonnes of market gaps in the recycled material will be replaced
by new material.

Raw material price: naphtha CF Japan reported 466.
88 US dollars / ton, -1.
74%; FOB Singapore is trading at $49.
53/b, -0.
36%.

ethylene CFR Northeast Asia 940 USD/ton, +0%; CFR Southeast Asia is trading at $830/mt, +0%.

South Korea's FOB propylene price is 890 US dollars / ton, +0.
56%, and the domestic propylene price is 7500 yuan / ton, -3.
54%.

Spot price: Southeast Asia quoted $1080, +0%; The Far East was quoted at $1,050 / mt, +0%.

Domestic: North China Qilu 9100 +0%; East China Sanyuan 9300 yuan, -0%; South China Maoming 10100 yuan, -0%.

PP1905 was weakly consolidated, with trading volume shrinking sharply and positions increasing
slightly.
Fundamentally, the trend of crude oil is weak, and PP inventories have rebounded, which has suppressed futures prices to a certain extent
.

Technically, the MACD low flattened, the red bar became shorter, and the KDJ median dead cross showed that the rebound may end
.
Operationally, investors can sell short
positions lightly on a rebound.