Social stocks fell and PP maintained range-bound volatility

Raw material prices: Japan naphtha CF Japan reported 464.
25 yuan / ton, up 7.
63; naphtha FOB Singapore reported 50.
24 US dollars / barrel, up 0.
9
.
ethylene CFR Northeast Asia 1140 US dollars / ton, flat; CFR Southeast Asia was flat at $1,035/mt
.
The CIF price of propylene in China was $850/ton, down 30
.

Spot prices: foreign spot market prices rose slightly, the Far East was quoted at $1025 / ton, up 10, and China's CIF price was 1025 US dollars / ton, up 10
.
Prices in the domestic market rose slightly; East China Ningbo 8230 yuan / ton, up 80; South China Maoming reported 8500 yuan / ton, flat
.

News side: 1.
According to Longzhong tracking data, the main domestic petrochemical inventory this week increased by about 4.
4% compared with the previous cycle, and the middleman inventory decreased by 2.
2%
compared with the previous cycle.
Next week, the Datang (460,000 tons/year) plant is expected to start up, and traders are expected to prepare the right amount of inventory in advance due to the Qingming Festival, and the number of petrochemical stocks is expected to continue to increase, and traders' inventories will decrease
.

The device entered the maintenance season, the overall operating rate fell, the market supply pressure eased slightly, and in the short term, under the slowdown in supply growth, the social inventory fell slightly, but it still maintained a high position, and the enthusiasm for taking goods downstream in a weak market environment was not good
.
The main force of short-term futures moved for months, and the market fluctuated greatly
.
Technically, the PP1705 contract rushed back down, testing the pressure around 8300 above, testing the 8000 integer mark support below, and maintaining a strong oscillation in the 8000-8300 range in the short term, it is recommended to trade
.