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    Home > Chemicals Industry > New Chemical Materials > PP rebound blocked Long and short forces temporarily balanced

    PP rebound blocked Long and short forces temporarily balanced

    • Last Update: 2022-12-12
    • Source: Internet
    • Author: User
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    The PP1901 contract opened at 9800 yuan, the highest to 9840 yuan, the lowest to 9715 yuan, and closed at 9755 yuan, down 16 yuan, or 0.

    The volume was reported 294072 lots, and the position increased by 624 lots to 475068 lots


    News: According to statistics from professional institutions: China's PP production in July 2018 increased by 4.
    77% month-on-month to 1.
    6305 million tons, an increase of 13.
    As of September 4, the capacity utilization rate of PP petrochemical enterprises nationwide was 89.
    97%, the same
    as last week.
    The operation of petrochemical plants in various regions is stable, and the capacity utilization rate has not changed much

    Raw material price: naphtha CF Japan reported 679.
    25 US dollars / ton, down 2.
    07%; FOB Singapore was trading at $74.
    07 a barrel, down 2.

    South Korea's FOB propylene price was 1085 US dollars / ton, flat, and the domestic propylene price was 9325 yuan / ton, flat

    Spot price: Southeast Asia reported $1245, up $5; The Far East was quoted at $1215 / ton, up $10
    Domestic: North China Qilu reported 9930 yuan, flat; East China Sanyuan 9830 yuan, up 30 yuan; South China Maoming 10,100 yuan, up 100 yuan

    The PP1901 contract rebound was blocked, the position increased slightly, and the long and short forces were temporarily balanced
    Fundamentally, the decline in social inventories has formed a certain support for futures prices, but the loosening of spot prices has suppressed futures prices

    Technically, the MACD indicator oscillated and retreated, but the green bar narrowed, and the KDJ indicator diverged low and crossed upward, and there may be a rebound
    in the short term.
    In terms of operation, it is recommended that prudent investors take profit on the low and fall their pockets, and aggressive investors can set a stop loss and try to grab a rebound
    on the low position.


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