PP rebounded slightly, and many moving averages were lost and regained

News side: European injection polypropylene spot prices rose 50 euros/mt on Wednesday, and European copolymer spot prices rose 20 euros/mt to 1,300 euros/mt
.
Industry sources said sellers demanded prices of 80-100 euros in June, in line with gains in
the upstream market.
The price of the propylene June contract on May 30 was 1032 euros/mt, up 80 euros/mt
from the previous month.
Market traders said they expect price action to be completely clear
next week.
Sources said there was not much
material available due to pre-orders in May as well as reduced imports.

Raw material price: naphtha CF Japan reported 623.
25 US dollars / ton, down 0.
29%; FOB Singapore was trading at $71.
38 a barrel, down 0.
53%.

South Korea's FOB propylene price was 1075 US dollars / ton, flat, and the domestic propylene price was 8225 yuan / ton, flat
.

Spot price: Southeast Asia was flat at $1300; The Far East was flat at $1,250 / ton
.
Domestic: North China Qilu 9200 yuan / ton, down 50 yuan; East China Sanyuan 9250 yuan / ton, down 20 yuan; South China Maoming reported 9650 yuan / ton, flat
.

The PP1809 contract rebounded slightly, many moving averages were lost and regained, and the short-term trend was still repeated
.

On the fundamental side, long and short coexist, the peak of device maintenance, the fall of social inventory to produce certain support for the futures price, but the loosening of spot prices has put certain pressure on the price, technically, MACD and KDJ are hovering above the central axis, short-term trend rebound
.
Operationally, it is recommended that investors wait and see for the time being
.