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    Home > Chemicals Industry > New Chemical Materials > The market is not highly motivated and PP fluctuates down

    The market is not highly motivated and PP fluctuates down

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
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    The PP1705 contract opened at 8640 yuan / ton, the highest was 8695, the lowest was 8524, and it closed at 8564, down 37, or 0.
    43%
    on the day.
    The volume decreased to 362,800 lots, and the open position increased by 30,108 lots to 492,300 lots
    .

    PP

    Raw material prices: Japan naphtha CF Japan reported 508.
    75 yuan / ton, down 1.
    5; naphtha FOB Singapore reported 55.
    21 US dollars / barrel, down 0.
    24
    .
    ethylene CFR Northeast Asia 1375 US dollars / ton, flat; CFR Southeast Asia was flat at $1145/mt
    .
    The CIF price of propylene in China was 990 US dollars / ton, down 5
    .

    Spot prices: Foreign spot market prices fell, the Far East reported $1030 / ton, down 15, and China's CIF price was 1030 US dollars / ton, down 15
    .
    The domestic market price fell, North China Qilu Petrochemical 8800 yuan / ton; East China Ningbo 8550 yuan / ton, flat; South China Maoming reported 8800 yuan / ton, flat
    .

    News side: 1.
    In January 2017, the total import volume of PP pellets was 419,200 tons, down 12.
    41% from the previous month, and the export volume was 17,200 tons, down 13.
    57%
    from the previous month.

    Short-term downstream starts have rebounded, but raw material prices have fallen, the market is not highly motivated to take goods, mostly to digest the previous inventory, social inventory continued to increase this week, but the increase has slowed down, the future market focuses on demand and inventory digestion, short-term is expected to maintain low volatility
    .
    Technically, the PP1705 contract fluctuated downward, short-term lower test of support around 8300, upper test of pressure around 8750, is expected to maintain short-term weak shock, short-term recommended rebound short
    .

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