The main PP contract fluctuated higher, and the rebound is expected to continue

News side: According to research by professional organizations, the environmental hazards associated with polyethylene (PE) have prompted people to adopt PP woven bags and sacks as a more sustainable option
.
For cost, strength and environmental reasons, laminated polypropylene woven bags and sacks are preferred over non-laminated polypropylene woven bags and sacks, accounting for 60%
of global sales.
With the growing demand for packaging products, major manufacturers will shift their focus to the production of PP woven bags and hemp bags, and strive to become the most reliable manufacturer of customized woven bags
.
According to Fac.
MR (Pune, India) study, PP woven bags market is expected to grow at a CAGR of 4% between 2018 and 2028
.
The steady growth of downstream demand is expected to drive PP demand and support
prices.

Raw material price: naphtha CF Japan reported 666.
88 US dollars / ton, down 0.
82%; FOB Singapore was trading at $72.
59 a barrel, down 0.
83%.

South Korea's FOB propylene price was $1090 / ton, up $5, and the domestic propylene price was 9325 yuan / ton, flat
.

Spot price: Southeast Asia was flat at $1245; The Far East was flat at $1,215 / ton
.
Domestic: North China Qilu reported 10,000 yuan, up 70 yuan; East China Sanyuan 9980 yuan, up 80 yuan; South China Maoming 10,100 yuan, flat
.

The PP1901 contract fluctuated higher, with a significant increase in holdings and bulls taking the initiative
.
Fundamentally, social inventories have fallen, and spot prices have rebounded to form a certain support
for futures prices.

Technically, the MACD indicator stopped falling and rebounded, the green column continued to shorten, the KDJ indicator continued to oscillate to the upside, and the rebound is expected to continue
.
In terms of operation, investors can set a take profit in their hands and hold
them cautiously.