PP opened slightly lower and continued its volatile downward trend in the morning

News side: PP CNPC East China transparent material reduced by 150 yuan / ton; Sinopec South China wire drawing reduced by 100 yuan / ton; CNPC South China fiber increased by 100 yuan/ton, thin-wall injection molding increased by 200 yuan/ton; Sinopec Huazhong lowered 100-150 yuan / ton
.
Most petrochemical plants have lowered prices, and the market has mostly followed the low report of 50-100 yuan / ton, but the downstream wait-and-see mood has not decreased, and the transaction is average
.

Raw material price: naphtha CF Japan reported 634.
5 US dollars / ton, up 0.
06%; FOB Singapore was trading at $69.
32 a barrel, down 0.
14 percent
.
South Korea's FOB propylene price was 1100 US dollars / ton, flat, and the domestic propylene price was 9525 yuan / ton, flat
.

Spot price: Southeast Asia was flat at $1235; The Far East was quoted at $1220 / ton, down $
10.
Domestic: North China Qilu reported 10,050 yuan, flat; East China Sanyuan 10,000 yuan, down 80 yuan; South China Maoming 10200, down 50 yuan
.

The PP1901 contract opened slightly lower, continued its volatile downward trend in the morning, and recovered in the afternoon, and the position continued to increase
sharply.

Fundamentally, the strong willingness of petrochemical prices to support prices has a certain support, but social inventories have rebounded, and spot prices have loosened or will limit PP growth
.
And after continuous rise, there is a certain profit selling pressure
in the short term.

Technically, the MACD indicator is a dead cross at a high level, the red column continues to shorten and turn green, and the KDJ indicator has also begun to show signs of decline, and it is necessary to guard against technical adjustments
in the short term.
Operationally, it is recommended that investors hold short orders with caution
.