PP rally blocked futures closed lower

Market situation: PP rebound blocked on Monday, PP2001 main contract rebound blocked, futures price closed at 8183 yuan / ton, -0.
05% from the previous trading day; Volume 486102 lots; Position 576092 lots, -43526 lots
.

News: 1.
The overall operating rate of the domestic polypropylene downstream industry fell narrowly to 57%
within the week.
Among them, the overall operating rate of plastic weaving enterprises above designated size remained stable at 54%.

Large enterprises started at 58% and small businesses at 50%.

The operating rate of injection molding enterprises is stable at 63%.

The operating rate of the membrane plant is about 53.
9%.

Hebei Weituo recently failed the device and stopped for maintenance, and it is expected to resume in the middle of next month; Henan Yinjinda was affected by environmental protection and resumed production
after the plant was shut down for one day.

2.
The inventory of polyolefin in major domestic ports continued to decrease
during the week.
As of September 30, the total inventory was 306,400 tons, down 04,000 tons from last week and 92,600 tons
from the same period last year.

Spot market: petrochemical North China PP Zhongtian products generally reduced 150 yuan / ton, fiber fell 50 yuan / ton, a few low melting fell 50-100 yuan / ton, Qingdao film material fell 150 yuan / ton
.

Warehouse receipt inventory: Exchange warehouse receipts reported 322 lots, -100 lots, in the historical low area
.
Main position: The top 20 long positions in the main contract are 181347 lots, -11902 lots, short positions are 204532 lots, -5647 lots, net positions are -23185 lots, net short increases
.

Summary: Crude oil trend is weak, naphtha prices also continue to decline, cost support weakened
.
The two barrels of oil PP stocks are basically stable, and they are still at a low level during the year, and the inventory pressure is small, so the supply side does not suppress prices much
.
The overall operating rate of downstream enterprises fell narrowly to 57%.

Among them, the overall operating rate of plastic weaving enterprises above designated size remained stable at 54%.

Large enterprises started at 58% and small businesses at 50%.

The operating rate of injection molding enterprises is stable at 63%.

The operating rate of the membrane plant is about 53.
9%.

Inventory raw materials have accumulated, and it is expected that the purchase willingness after the holiday is average
.
The intraday spot market trend is stable, the downstream acceptance of high-priced sources is general, the enthusiasm for receiving goods is general, the unit price is lowered in some regions, and merchants mainly let profits and
shipments.
Powder is also affected by the low enthusiasm of the downstream, and some enterprises have lowered the unit price
.
In the short term, PP prices have insufficient
upward momentum.
The future market focuses on the pressure around 8300, and the support around 8100 below, and the price range pattern is expected
.