Views: 0 Author: Site Editor Publish Time: 2019-07-24 Origin: Site
Since the beginning of June, PP futures and spot prices have rebounded significantly. The futures contract for Sep 2019 increased to limit high even, rising greatly by 15% from 7,811yuan/mt to 8,994yuan/mt, and then began to fall largely and kept wide fluctuations. At the same time, the open interest reduced evidently. It indicated the fact that speculators were selling at profit-taking rates after the spot-futures basis had been revised from high positive rate to flat and even negative zone again.
(Day K-line for DCE PP1909 contract)