echemi logo
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > PP opened slightly lower and continued its volatile downward trend in the morning

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

    • Last Update: 2022-12-12
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit

    The PP1901 contract opened at 9952 yuan / ton, the highest to 10058 yuan / ton, the lowest to 9850 yuan / ton, and closed at 10008 yuan / ton, down 4 yuan, or 0.

    The trading volume was reported 430844 lots, and the position decreased by 23492 lots to 500226 lots


    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 $
    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

    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

    This article is an English version of an article which is originally in the Chinese language on and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to with relevant evidence.