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    Home > Chemicals Industry > New Chemical Materials > PP volatility closed higher and maintained strong volatility

    PP volatility closed higher and maintained strong volatility

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
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    The PP1705 contract opened at 8284 yuan / ton, the highest 8385, the lowest to 8242, and closed at 8348, up 74, or 0.
    89%
    per day.
    The volume decreased to 329,500 lots, and the open position decreased by 8,600 lots to 456,800 lots
    .

    PP

    Raw material prices: Japan naphtha CF Japan reported 465.
    88 yuan / ton, up 4.
    13; naphtha FOB Singapore reported 50.
    24 US dollars / barrel, up 0.
    5
    .
    ethylene CFR Northeast Asia 1210 US dollars / ton, flat; CFR Southeast Asia was flat at $1,100/mt
    .
    The CIF price of propylene in China was $910/ton, down 15
    .

    Spot prices: foreign spot market prices are basically flat, the Far East is flat at $1030 / ton, and China's CIF price is flat at $1030 / ton.

    rising prices in the domestic market; East China Ningbo 8250 yuan / ton, up 50; South China Maoming reported 8400 yuan / ton, flat
    .

    News side: 1.
    In this week, the main domestic petrochemical inventory decreased by about 1.
    16% compared with the previous cycle, and the intermediate inventory increased by 0.
    12%
    compared with the previous cycle.

    In mid-to-late March, although the maintenance of equipment gradually increased and downstream rigid demand rebounded slightly, the short-term social inventory digestion was slow and remained high, which is expected to suppress the upside
    of prices.
    The future market pays attention to the enthusiasm of the downstream and market supply after the price decline, and it is expected that the short-term futures price will remain a strong range
    .
    Technically, the PP1705 contract above the test of pressure around 8600, below the test of the 8200 integer mark support, is expected to maintain a strong shock in the 8200-8600 range in the short term, it is recommended to trade long in the range
    .

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