Low inventory demand warmed up Polypropylene up space was opened

Due to the low inventory and the recovery of demand, the price of polypropylene futures has continued to rise since the beginning of July . On August 2 , the pressure level of 9,650 yuan / ton was broken , and the upward space was opened.

The amount of storage, as at August 2, 1809 and 1901 the total volume of contracts to 362,144 contracts polypropylene hand, an increase of 172752 hand than when the rebound to open July 6, an increase of 91.21%; total positions to 536,002 hands, compared with On July 6 , 2,726 lots were added, an increase of 0.51% . Overall, the increase in the price of polypropylene is accompanied by the enlargement of the transaction and the stability of the position, indicating that the current long-term differences are still large, and the fluctuations in the later period will be larger.

Terms of turnover, August 2, 1809 contract with polypropylene 1901 contract overall turnover was 0.6756, and July 6 to 0.3551. The turnover rate has risen sharply, further confirming the active trading of the polypropylene market.

Low inventory demand warmed up Polypropylene up space was opened

The stock of capital, as of August 2, 1809 contract margin stock of polypropylene with 1901 contracts was 2.541 billion yuan, an increase compared to July 6 109 million yuan, an increase of 4.47%. Due to the small change in positions, the increase in the amount of polypropylene funds was limited, and the overall kinetic energy was not significantly improved.

The main positions, as of August 2, positions 20 seats polypropylene long ago as 203601 hand positions before the 20 seats for the 208,329 short hand, net long positions for the -4728 hand, and long before the July 6 positions 20 seats for the 147,715 hand positions before the 20 seats for the 144,614 short hand, net long positions for the 3101 hand. After rising nearly a month, the polypropylene market long and short power changes to show that being underweight or change the main long holding an empty one.

Warehouse receipts, as of August 2, a total of 765 hand polypropylene futures warehouse receipts, warehouse receipts lower volume, selling pressure is limited.

From a technical point of view, the price of polypropylene has broken through, and there is no sign of weakening in terms of quantity and energy. The market outlook is expected to continue to rise. However, considering that the main force has changed, the price of polypropylene has not risen overnight. It is necessary to be cautious in the process of holding more orders or chasing more.

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