PP weakness collation shows that the short-term trend is still weak

News: On the 13th, the popularity of Shenhua's online auction transaction was still sluggish
.
A total of 6,597 tons of PP and PE products were auctioned throughout the day, with a total of 2,947.
17 tons sold, with a transaction ratio of 44.
67%.

Among them, the auction PP5484.
97 tons, the transaction was 2327.
17 tons, accounting for 42.
43%.

The linear auction was 650 tons, the transaction was 620 tons, accounting for 95.
38%, the low pressure auction was 82 tons, and the high pressure auction was 380 tons, all of which were auctioned
.

Raw material price: naphtha CF Japan reported 547.
25 US dollars / ton, +0.
71%; FOB Singapore is trading at $58.
53/b, +0.
81%.

ethylene CFR Northeast Asia 940 USD/ton, +0%; CFR Southeast Asia is trading at $860/mt, +0%.

South Korea's FOB propylene price is 1000 US dollars / ton, -0%, and the domestic propylene price is 8450 yuan / ton, -1.
17%.

Spot price: Southeast Asia quoted $1240, -0%; The Far East was quoted at $1200 / ton, -0%.

Domestic: North China Qilu reported 10,000 yuan, -0.
70%; East China Sanyuan 10150 yuan, -0.
49%; South China Maoming 10650 yuan, -0%.

PP1901 was weakly sorted, and the trading volume and position volume were greatly reduced, indicating that the short-term trend is still weak
.
Fundamentally, crude oil pullback, weak propylene, suppressed PP prices, coupled with light trading in the spot market, the bearish atmosphere was pervasive, all of which suppressed
prices.

Technically, the MACD oscillation is lower, and the KDJ turns downward, indicating that there is still a short-term pullback requirement
.
Operationally, it is recommended that investors continue to hold
short orders in their hands.