Last week, PP1809 closed at 9095 yuan, down 8 yuan; total positions decreased by 13,000 hands to 338,000 hands; total volume decreased by 90,000 hands to 192,000 hands.
The spot price is narrowly arranged. The PP drawing set of the East China PP draws the flat water PP1809 contract to the discounted water of 30 yuan. As of last Friday, the spot mainstream transaction price is 9050~9150 yuan.
From a fundamental point of view, the PP downstream industry is still in a large area of loss, many devices have reduced parking; the cost support has weakened after the price of propylene has been lowered. However, the recent methanol price increase, the marginal cost of MTO rises. Overall, PP1809 disk The upper part has strong resistance at 9150~9200 yuan.