PP volatility went higher and increased positions sharply during the session

News: Yuyao PP market rose 50-100 yuan / ton, futures rose intraday, boosting market confidence, traders reported high prices, buying orders replenished on demand
.
Qilu Chemical City merchants offered part of the profit, the mainstream quotation of wire drawing is 9000-9250 yuan / ton, the real transaction negotiation
.
The price of PP market in Guangzhou was slightly adjusted, and the market waited and watched
.

Raw material price: naphtha CF Japan reported 649.
38 US dollars / ton, up 1.
13%; FOB Singapore was trading at $71.
44 a barrel, up 1.
13%.

South Korea's FOB propylene price was 1075 US dollars / ton, flat, and the domestic propylene price was 8250 yuan / ton, flat
.

Spot price: Southeast Asia was flat at $1300; The Far East was flat at $1,250 / ton
.
Domestic: North China Qilu 9250 yuan / ton, flat; East China Sanyuan 9260 yuan / ton, up 10 yuan; South China Maoming reported 9650 yuan / ton, up 70 yuan
.

The PP1809 contract fluctuated higher, and increased its position sharply during the session, but the price position trend was not ideal
.
On the fundamentals, long and short coexist, the peak of device maintenance, the decline of social inventory and the futures price have produced certain support, but the loosening of spot prices has put certain pressure
on the price.

On the technical side, MACD turned back upwards, and KDJ continued to oscillate higher, indicating that there is still momentum
for rebound in the short term.
Operationally, it is recommended that investors' medium and long orders can reduce their holdings
at the 9550 line.