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The PP1901 contract opened at 8883 yuan, the highest was 8939 yuan, the lowest was 8852 yuan, and closed at 8882 yuan, down 20 yuan, or 0.
22%.
The trading volume was reported 410382 lots, and the position decreased by 23274 lots to 359582 lots
.
News: On the 22nd, the popularity of Shenhua's online auction transaction has reached a trough
.
A total of 4,282 tons of PP and PE products were auctioned throughout the day, with a total of 1,389 tons sold, with a transaction ratio of 32.
44%.
Among them, the auction PP was 2978 tons, and the transaction was 823 tons, accounting for 27.
64%.
Linear auction 50 tons, 32 tons, accounting for 64%, low pressure 14 tons, transaction 14 tons, accounting for 100%, high pressure auction 1240 tons, transaction 520 tons, accounting for 41.
94%.
Most of the transaction price was sold at the reserve price of the auction, and the low pressure rose 10 yuan
individually.
Raw material price: naphtha CF Japan reported 546.
12 US dollars / ton, +0.
16%; FOB Singapore is trading at $58.
49/b, +0.
38%.
ethylene CFR Northeast Asia 1040 USD/ton, +0.
97%; CFR Southeast Asia is trading at $950/mt, +1.
06%.
South Korea's FOB propylene price is 885 US dollars / ton, -1.
67%, and the domestic propylene price is 8225 yuan / ton, -1.
20%.
Spot price: Southeast Asia reported $1160, -4.
92%; The Far East was quoted at $1125/mt, -2.
17%.
Domestic: North China Qilu no quotation; East China Sanyuan 9400 yuan, -1.
05%; South China Maoming 10050 yuan, -2.
9%.
PP1901 opened low and fluctuated, and both trading volume and position shrank sharply, indicating that the market was sluggish
.
Fundamentally, crude oil is lower, propylene is weak, which suppresses PP prices, loose spot market prices, and light transactions also suppress
prices.
Technically, the MACD volatility is lower, and the KDJ is also hovering low, indicating that the short-term trend is still weak
.
With the downward pressure of the short-term moving average, it is expected that the weak operation pattern
will remain obvious.
Operationally, it is recommended that investors mainly sell short in case of rebound
.