According to the data monitored by the business community, the domestic PP market was mainly volatile in the second week of March, and the spot prices of various brands rose and fell with each other. As of March 12, the mainstream offer price of T30S (wire drawing) of domestic manufacturers and traders was about 9400.00 yuan / ton, with a 0.53% decrease compared with the average price at the beginning of the month, and a 11.24% increase compared with the same period of last month.
Cause analysis
PP upstream propylene domestic market increased significantly in early stage, and began to enter the finishing market in March. At present, the price of propylene is relatively high, and the international crude oil is still rising well. This week, the price of propylene rose after a correction. The recovery of overseas units affected by the disaster in February is limited, and it will take time for propylene production to recover significantly. However, the downstream purchasing intention is not strong, and the strategy is inclined to take as you like. Due to the hot early shipment, the current domestic inventory in the controllable range. It is expected that the recent propylene price will continue to fluctuate and adjust.
The current domestic propylene market high finishing, PP cost side support is acceptable. Friday (12) the main futures high open shock, boost market confidence. The signing of the U.S. economic stimulus bill stimulated the price of crude oil, and PP products in the far end and downstream were also affected. This week, the overall operating rate of the industry is more than 90%, the wire drawing material production is still stable at about 30%, and the supply is relatively abundant. At present, the PP price range is high. Although the domestic resumption of work is fast after the festival, the demand is rapidly expanding, but the downstream factories gradually resist the high price orders, and the willingness to receive goods is not strong. Floor trading is not smooth, there is a price reduction business single operation. At the same time, the two kinds of oil and social inventory also increased.
In terms of fiber materials, according to the data monitored by the business community, as of March 12, the mainstream offers of domestic producers and traders Z30S (fiber) also rose sharply, with the price of about 9400 yuan / ton, a decrease of 0.88% compared with the average price at the beginning of the month, and a rise of 10.37% compared with the same period last month. In terms of production scheduling, domestic fiber PP accounts for about 13% recently, with stable overall output and abundant supply. The market on the floor is similar to that of wire drawing materials. The demand is stable and the price of goods is high.
At the beginning of March, domestic PP melt blown materials continued to rise, boosted by the rise of raw materials and the rise of outer plate melt blown PP. At present, the benefits are exhausted, and the high-risk areas in China are cleared, the epidemic prevention situation is stable, and the demand for epidemic prevention materials is steadily reduced. At present, PP meltblown material market shocks mainly, spot prices have a certain decline. As of March 12, the average quotation of pph-y1500 sample enterprises monitored by business society was 11033.33 yuan / ton. The overseas epidemic situation is still unclear, and many countries have reported a number of new coronal variant strains, so it is inevitable that the compulsory mask policy will be implemented for a long time. Recently, the price of meltblown materials in the outer panel is relatively stable. There is a contradiction between supply and demand in the domestic meltblown cloth manufacturing market, and the profit point of meltblown PP is still not high.
Future forecast
Business community PP analysts believe that: the second week of March domestic PP spot market trend shock consolidation. The high price of propylene in the upper reaches supported the cost side of PP firmly. Futures rose over the weekend, boosting the mentality of the spot market. The current high price spot market trading situation is not good, let the profit shipping so that the recent PP price stagflation and shock. With the high opening rate of the industry and the negative feedback of downstream demand, the overall inventory of polypropylene began to accumulate. It is expected that the PP market trend in the near future will continue to look for the price balance point and concussion operation.
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