PP rebound is weak and trading volume drops sharply

News side: Fuhai (Hualian) petrochemical propylene quotation was lowered by 150 yuan / ton to 9500 yuan / ton, and its gas separation unit capacity was 400,000 tons / year
.
The quotation of Haikerelin propylene is 9500 yuan / ton, and the quotation of Haike Petrochemical is 9500 yuan / ton
.

Raw material price: naphtha CF Japan reported 676 US dollars / ton, +0.
91%; FOB Singapore is trading at $73.
33/b, +1.
1%.

ethylene CFR Northeast Asia 1070 US dollars / ton, -1.
83%; CFR Southeast Asia was quoted at $980/mt, or 2%.

South Korea's FOB propylene price is 1125 US dollars / ton, -0.
44%, and the domestic propylene price is 9700 yuan / ton, -0.
51%.

Spot price: Southeast Asia reported $1260, +0%; The Far East was quoted at $1235 / ton, 0%.

Domestic: North China Qilu reported 10800 yuan, -0.
46%; East China Sanyuan 10850 yuan, -0.
46%; South China Maoming 10950 yuan, 0%.

PP1901 rebounded weakly, trading volume fell sharply, and positions shrank
significantly.
Fundamentally, the low level of social inventory and the little supply pressure have formed a certain support for the price, but the spot and propylene prices are loose, the downstream enterprises are not active in taking goods, and the market transaction is light to suppress
the price.

Technically, short-term has adjustment requirements
.
In terms of operation, it is recommended that investors set a take profit in their hands and hold
them cautiously.