PP weak sorting out short orders profit reduction

News side: PP CNPC South China pricing transfer listing today; The southwest part of CNPC was adjusted by 100 yuan / ton
.
Today's futures opened low and downward, and the market price remained stable, but the downstream wait-and-see mentality became stronger and the market transaction was weak
.
FOB South Korea's average price of propylene on August 31 was $1,090/ton, and CFR China's average price of propylene on August 31 was $1,135/ton, both of which remained stable
.

Raw material price: naphtha CF Japan reported 680.
5 US dollars / ton, up 0.
13%; FOB Singapore was trading at $74.
16 a barrel, up 0.
07%.

South Korea's FOB propylene price was 1090 US dollars / ton, flat, and the domestic propylene price was 9325 yuan / ton, down 50 yuan
.

Spot prices: Southeast Asia was trading at $1240, flat; The Far East was flat at $1210/mt
.
Domestic: North China Qilu reported 9930 yuan, down 20 yuan; East China Sanyuan 9750 yuan, down 80 yuan; South China Maoming 10,000 yuan, flat
.

The PP1901 contract fell slightly, and the position increased
significantly.
Fundamentally, the decline in social inventories has formed a certain support for futures prices, but the loosening of spot prices has suppressed futures prices
.
Technically, the MACD indicator oscillated and retreated, but the green bar flattened, and the KDJ indicator diverged from the low level, and there may be a rebound
in the short term.
In terms of operation, it is recommended that investors take profit on the low order and drop the bag for safety
.