Plastic PP prices continued to rise in the short term as crude oil rebounded

During China's tomb-sweeping day holiday on Monday, the OPEC + emergency meeting is still in the preparatory stage, the market in the reduction of production, participants in the reduction of production, the starting point of the reduction, there are still many details need to be negotiated, postponed to the meeting on the 9th, the 10th decision also tested the market's patience, oil prices fell and can be seen.The market remains skeptical of the ultimate effect of OEPC+, and a growing number of institutions believe that even reaching a reduction of 10 million BPD is a drop in the bucket for a collapse in demand.

Plastic pp continues to rise with the rebound of crude oil in the short term, but the rise space temporarily can not be estimated too high, the sustainability of the rebound with the shape of change does not exclude the extension of conditions, time for space rebound conditions can continue to be considered in the later period.Today plastic 09 contract operation range in 5810-5960, pp09 contract operation range in 6220-6400, this day interval to run as a sideways to recover, but once the breakthrough interval of high rise space can still be increased by 200, days after the above important pressure position respectively in 6150 and 6600. The early morning on interval operation, trading temporarily short term is given priority to, the early stage of the own band single light warehouse with caution, gradually increase surplus position.