Supply growth slowed down, PP shock declined

Raw material prices: Japan naphtha CF Japan reported 471.
12 yuan / ton, up 6.
87; naphtha FOB Singapore reported 51.
12 US dollars / barrel, up 0.
88
.
ethylene CFR Northeast Asia 1140 US dollars / ton, flat; CFR Southeast Asia was flat at $1,035/mt
.
The CIF price of propylene in China was $855/ton, down 5
.

Spot prices: foreign spot market prices rose slightly, the Far East was quoted at $1030 / ton, up 5, and China's CIF price was 1030 US dollars / ton, up 5
.
Prices in the domestic market rose slightly; East China Ningbo 8250 yuan / ton, up 20; South China Maoming reported 8600 yuan / ton, up 100
.

News side: 1.
At about 17:00 on March 30, 2017, the spherical tank propylene pump of the 1# ethylene plant of Sinopec Yangzi Petrochemical Olefin Plant caught fire
.
After the accident, the company stopped the emergency and the leaders of the city and the park organized firefighting, public security, safety supervision and environmental protection department personnel to organize rescue
on site.
At present, the 340,000 tons/year PP plant is completely stopped, while the 200,000 tons/year PP plant of Yangzi Petrochemical Line 3 was originally planned to stop on April 24, and the emergency stop may make the plan advance
.

The device entered the maintenance season, the overall operating rate fell, the market supply pressure eased slightly, in the short term under the slowdown in supply growth, social inventory fell slightly, but still maintained in a high position, the market weak environment downstream enthusiasm for taking goods and export demand contraction, limiting the price increase momentum
.
The main force of short-term futures moved for months, and the market fluctuated greatly
.
Technically, the PP1705 contract oscillated and retreated, testing the pressure around 8300 above, testing the 8000 integer mark support below, maintaining short-term oscillations in the 8000-8300 range, recommended range trading
.