PP Prices Edge Higher(May 14, 2025)
Domestic petrochemical inventory: The inventory of polyolefins of the two oils is 820,000 tons, down 20,000 tons from yesterday.
Futures analysis: On May 14, PP2509 opened at 7088, the highest price was 7193, the lowest price was 7081, the position was 425856, the settlement price was 7148, yesterday's settlement was 7057, the increase was 91, the daily trading volume was 521555 lots, the deposited funds were 2.144 billion, and the capital outflow was 65.1 million.
Market mainstream quotes for wire drawing:
Domestic spot market analysis: Today, the domestic PP market as a whole showed a strong trend, and the prices in various regional markets rose overall, ranging from 10 to 70 yuan/ton. In terms of price: the mainstream price of domestic polypropylene ranged from 7110 to 7360 yuan/ton. On the cost side, international oil prices continue to rise, and the tariff issue has eased.
The general sentiment of commodities is good, which has boosted the PP market mentality to a certain extent. In addition, some PP manufacturers have raised their ex-factory prices, and traders have tentatively pushed up their quotations. However, downstream demand remains rigidly supported, and the trading situation on the market is still acceptable.
Analysis of the domestic futures market: The night session price of the PP2509 contract fluctuated upward; the range was consolidated after the opening of the morning session; the price was consolidated upward in the afternoon session. As of today's afternoon closing, the PP2509 contract fluctuated between 7081 and 7193 throughout the day, with a spread of 112, and the 09 contract reduced its position by 11,519 lots. As of now, the position is 425,856 lots.
Forecast for the future market: In terms of raw materials, the crude oil market may be affected by favorable factors such as the instability of the geopolitical situation and the reduction of trade risk concerns, as well as unfavorable factors such as OPEC+'s production increase expectations and weak crude oil demand. It is also necessary to pay attention to the impact of related changes on international oil prices.
On the supply side, the impact of the shutdown of PP units on the site continues to be at a relatively high level, and there is an expectation of a reduction in the supply of goods, which may provide certain favorable support for the PP market. On the demand side, the overall performance of downstream demand is relatively stable, the increase in new orders is limited, the enthusiasm for replenishing raw material PP is general, and the driving factors are not obvious. Overall, it is expected that the polypropylene market may fluctuate upward in the short term.
Domestic PP Index: According to Tuduoduo data, the domestic PP spot index on May 14 was 7227.00, up 32, a range of 0.44%.
Guoneng auction statistics: Guoneng Coal Chemical's auction volume today is 1964 tons, down 18.81% from yesterday; the transaction volume is 1749, down 16.12% from yesterday, and the transaction rate is 89.05%, up 2.86% from yesterday.
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