The hottest PP market still needs to watch careful

2022-09-23
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[PP] after the market stops falling and stabilizes, the market still needs to watch carefully

I. market overview

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today's PP market stops falling and stabilizes on March 5. The futures market opened high and fluctuated, and the spot market was slightly boosted. Traders should strengthen the margin of profit transfer and actively promote transactions. But near the end of the year and the Chinese New Year's holiday is approaching, buyers are not eager to seek cash, demand is low, and inventory is high

II. Overview of upstream market

crude oil futures rose nearly 3.6% on Tuesday (December 20), as the market was worried that geopolitical tensions might affect global crude oil supply, and encouraging U.S. economic data boosted the stock market, which also pushed oil prices higher. The closing price of January light and low sulfur crude oil futures on the New York Mercantile Exchange rose $3.34 to $97.22 a barrel. The slight rise in oil prices has provided a certain positive support for the market mentality. Downstream buying is still not booming, and the aftermarket continues to be under pressure

on Tuesday, the closing price of Far East propylene fell slightly by $3/ton to close at 1176 5 dollars/ton. The terminal accounts for a relatively large proportion, with poor buying, the absence of substantive inquiries, and limited overall construction, which is difficult to form an effective support for spot demand for the time being

III. local market conditions

today, traders in the PP market ship with them, and their quotations mostly maintain yesterday's price level. The surrounding downstream factories can be used and taken at any time to meet the production, and the overall market turnover is small

the PP quotation of Qilu Chemical City temporarily stopped falling, crude oil rose sharply, and commodity traders took the opportunity to ship. The demand is more wait-and-see Sinopec North China's settlement policy, the market supply is less, and the market stops falling and stabilizes

the supply of PP market in Yuyao is acceptable, and the price is stable. Crude oil closed up sharply, the market mentality was slightly boosted, and businesses' wait-and-see mentality increased. The factory is still cautious, with a slight increase in inquiries in the morning and a slight transaction heard

the supply of PP market in Tianjin is normal, and the price mostly maintains yesterday's price level. Traders mostly ship with them, downstream factories purchase according to orders, and the overall market trading is light

IV. the latest quotation

1. Petrochemical quotation

the ex factory price of PetroChina northeast PP increased, the manufacturer's inventory was high, and the sales situation was general. The listing price of Daqing Petrochemical T30S is 10100 yuan/ton, and that of Daqing Refining and chemical v30g is 10100 yuan/ton

the ex factory price of PetroChina Huadong PP decreased, the inventory was normal, and the sales were weak. The listing price of T30S is 10100 yuan/ton, and the listing price of v30g is 10100 yuan/ton

the ex factory price of PetroChina northwest PP is stable, the inventory is OK, and the sales situation is general. The listing price of T30S is 10250 yuan/ton, and the listing price of S1003 is 10050 yuan/ton

2. The quotation of the mall

as of 15:00, the rise and fall of some brands of plastic spot PP were mixed, with a range of yuan/ton. Among them, 1120/Formosa Plastics Ningbo lowest reported 10200 yuan/ton (down 300), 7032e3/ExxonMobil lowest reported 11200 yuan/ton (up 100), m1500/Korean Hyundai lowest reported 11550 yuan/ton (up 250), m800e/Shanghai Petrochemical lowest reported 11500 yuan/ton (down 200), f401/Panjin Ethylene lowest reported 10100 yuan/ton (down 50), t30s/Shaoxing Sanyuan lowest reported 10150 yuan/ton (up 50)

v. future forecast

in terms of the macro environment, the European debt crisis in high fever has not subsided with the convening of the last EU summit this year. On the contrary, countries within the EU have constrained each other in order to protect their own interests, reducing the possibility of an effective short-term solution to the debt crisis. At the same time, China's economy also began to show a slowdown in growth. The sluggish global economy will psychologically affect the market. At present, there are not enough positive factors in the market. Due to the sluggish terminal demand, the boost of all parties is still limited, and the PP market has been difficult to improve. Therefore, it is expected that the PP market will maintain a slightly volatile trend in the short term

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