Polypropylene PP: Spot prices are in a narrow range, and the supply flow in the market is not smooth(December 30, 2024)

Domestic petrochemical inventory: The inventory of polyolefins of the two oils is 550,000 tons, an increase of 55,000 tons from last week.

PP futures analysis: On December 30, PP2505 opened at 7376, the highest price: 7416, the lowest price: 7371, the position: 493324, the settlement price: 7392, yesterday's settlement: 7400, down: 8, daily trading volume: 214530 lots, deposited funds: 2.553 billion, and capital outflow: 44.91 million.

PP market drawing mainstream quotation:

Propylene market price list

PP domestic spot market analysis: Today, the domestic PP market as a whole showed a narrow consolidation trend, among which the price in the North China market maintained the quotation yesterday, the market price in the East China region rose slightly, and the market price in the South China region fell. In terms of price: the mainstream price of domestic polypropylene ranged from 7365 to 7740 yuan/ton. The rise in international oil prices, coupled with the upward adjustment of propylene market prices, has strengthened the support of the cost side for the PP market. However, the return of funds at the end of the year has suppressed the circulation of goods to a certain extent. In addition, the downstream's lack of enthusiasm for purchasing raw material PP has maintained rigid demand for replenishment. The market atmosphere is cautious, and traders follow the market. The trading situation in the market is general.

PP spot trend forecast: In terms of raw materials, the crude oil market is affected by multiple factors. Among them, the positive factors include the continuation of the OPEC+ production reduction atmosphere and the expectation of economic improvement in Asia. The negative factors include the poor global demand outlook and the easing of the geopolitical situation. It is also necessary to pay attention to the uncertainty of the demand outlook in Asia and the situation in the Middle East. In terms of supply, the contradiction between supply and demand in the market still exists. With the gradual restart of PP maintenance devices, the impact of device shutdown may continue to fall. In addition to the expectation of large-scale production of new production, supply may increase. It is necessary to continue to pay attention to the release of new production capacity and changes in inventory data. In terms of demand, the gradual weakening of terminal demand may be a foregone conclusion. The demand side is mediocre. Downstream factories mainly purchase based on rigid demand, which is insufficient to support the market situation of raw material PP. Overall, the polypropylene market is expected to fluctuate and weaken in the short term.

Domestic PP Index: According to Tuduoduo data, the domestic PP spot index was 7519.17 on December 30, down 5, a range of 0.07%.

Shenhua auction transaction situation: Shenhua Coal Chemical's auction volume today was 450 tons, an increase of 21.62% from yesterday; the transaction volume was 200, the same as yesterday, and the transaction rate was 44.44%, a decrease of 9.61% from yesterday.