1、 Price trend
According to the data monitored by the business agency, the decline of domestic PP market in early April narrowed and the spot price fluctuated. As of Friday, April 3, the main offer price of T30S by domestic producers and traders was about 6383.33 yuan / ton, a decrease of 2.54% compared with the average price on April 1.
| Gamma PGA cosmetic |
2、 Cause analysis
Upstream: on the upstream side, propylene was affected by OPEC meeting and international market game last month, and the news of international crude oil’s multiple downgrades has obvious negative effect on propylene. However, it will take time for propylene to benefit from the easing news of crude oil price war in the past two days. Downstream plant profit space is narrow, the industry is generally bearish, dragging the price of propylene. This month, more propylene enterprises may start construction and increase production. It is expected that propylene price will continue to explore trend in recent days;
| http://www.lubonchem.com/ |
Product: the domestic PP market remained weak on the whole this week, but the international news was good for crude oil, boosting the trend of PP futures market. However, the spot market was under pressure in the early stage, and the petrochemical plant inventory was high, and there was still an offer adjustment. In addition, the resumption of work in PP downstream plant is normal, and the atmosphere of on-site purchase inquiry is not strong. Boosted by the futures, the confidence of the industry was strengthened and began to have a strong intention.
3、 Future forecast
PP analysts of the business club think that the domestic PP spot market was in shock operation at the beginning of April. The upstream propylene price also fell in shock, and the support for PP cost end was not good. The return rate of downstream factories needs to be further improved. In terms of demand, small orders are mainly traded, which needs to be improved. In the near future, PP futures have a strong trend, which has boosted the spot market and narrowed down the market. It is expected that PP market will be sorted out in the near future.
| Gamma PGA |