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The PP1901 contract opened at 9983 yuan / ton, the highest to 10173 yuan / ton, the lowest to 9915 yuan / ton, and closed at 10111 yuan / ton, down 43 yuan, or 0.
42%.
The trading volume was reported at 381430 lots, and the position decreased by 14346 lots to 496844 lots
.
News: According to professional institutions: As of August 15, domestic major PP petrochemical and oil inventories increased by 3.
66% from last week, traders' inventories increased by 1.
04% from last week, and overall inventories increased by 3.
10%
from last week 。 Recently, the ex-factory price of petrochemical enterprises has been maintained at a high level, and traders open orders according to plan, but downstream procurement is mainly based on rigid demand and even has a rejection mentality, traders do not ship smoothly, and traders' enthusiasm for billing is weakened; Although Sinopec in South China has cancelled controlled sales, its billing is limited; Changsheng Petrochemical in central China temporarily stopped for maintenance, but the impact was limited; Coupled with the successive allocation of CNPC resources, petrochemical inventories have risen.
Raw material price: naphtha CF Japan reported 644 US dollars / ton, down 0.
54%; FOB Singapore was trading at $70.
25 a barrel, down 0.
61%.
South Korea's FOB propylene price was 1090 US dollars / ton, flat, and the domestic propylene price was 9475 yuan / ton, flat
.
Spot price: Southeast Asia is trading at $1235, up $5; The Far East was at $1230 a tonne, down $5
.
Domestic: North China Qilu reported 10,050 yuan, flat; East China Sanyuan 10,080 yuan, down 30 yuan; South China Maoming 10250, flat
.
The PP1901 contract opened sharply lower, followed by long strength, the futures price volatility rebounded, and most of the lost ground was recovered in the final session, and the bull pattern barely remained intact, but the position fell significantly
.
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 red column has signs of flattening at a high level, while the KDJ indicator continues to diverge and has signs of downside, which requires short-term technical adjustment
.
In terms of operation, it is recommended that investors can take a short position lightly
.
