According to the data monitored by the business agency, the domestic PP market trend in August was strong, and the spot prices of some brands rose slightly. As of August 31, the mainstream offer price of T30S (wire drawing) of domestic manufacturers and traders was around 8016.67 yuan / ton, an increase of 2.78% compared with the average price at the beginning of the month.
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Cause analysis
The domestic market price of PP upstream propylene fluctuated periodically in August. After the upward trend broke through the original range at the beginning of the month, the price fluctuated and stabilized, reaching 6848 yuan / ton at the beginning of the month; 6940 yuan / ton at the end of the month, with a monthly increase of 1.34%; the monthly low price appeared on August 4, with a monthly high price of RMB 7036 / T from August 10 to 13, with a monthly amplitude of 3.08%. At the beginning of August, the price was at a high level in the range. Since the end of the week, the price of some enterprises has been slightly up and down, but it has remained stable since the end of the week. On the 5th, the prices of some enterprises have been slightly stable. From 6th to 10th, the first round of rising trend of breaking through the range of this month has been started. From the 11th to the 16th, the price has continued to decline, and on the 17th, it has been stable for more than 10 days Most manufacturers still keep their prices stable. On the 29th, the prices dropped by about 50 yuan / ton, and then continued to stabilize. At present, the market turnover is between 6880 yuan / ton and 7250 yuan / ton, and the mainstream price is about 6900 yuan / ton. Propylene manufacturers to ship smoothly, inventory pressure, propylene prices are expected to rise.
Upstream propylene fluctuated and rose in August with a strong trend, which supported the cost side of PP. According to the data monitored by the business agency, the market performance of PP (wire drawing) in August was stable and rose slightly, and the spot price was adjusted slightly. In terms of inventory, PP inventory of two barrels of oil and other production enterprises decreased, while the decline rate of social inventory was slightly lower. Far upstream crude oil has a strong trend in the near future, forming a certain support for chemicals. In the first half of this month, some ports were prone to extreme weather, which affected the arrival of ships and cargoes, and the port inventory also declined. In the late middle of the year, there is a resumption of production of PP maintenance equipment. At present, the negative expectation of increasing PP supply is not obvious. The quotation of merchants is following up. At present, the downstream price reduction intention is obvious. It is expected that the upward adjustment range of PP (wire drawing) price may be narrowed.
According to the data monitored by the business agency, as of August 31, the mainstream offer price of domestic manufacturers and traders Z30S (fiber) was about 7983.33 yuan / ton. Compared with the average price level at the beginning of the month, it increased by 2.57%. Previously reported that a number of production lines in August ushered in production, the current positive market diluted the impact of supply expansion on PP prices. In addition, the extreme weather led to the same decrease in the arrival of fiber materials, and the futures market strengthened, which naturally had a boosting effect on the spot. At present, the supply and demand of domestic PP fiber material and drawing material are stable, and the operation situation is similar. PP (fiber) is expected to continue finishing market in the near future.
| Sodium Molybdate |
PP meltblown material market weakness continues, domestic PP melt blown material market confidence is insufficient, the price continues to fall. At present, the epidemic situation in China is generally stable, and the demand for epidemic prevention products is declining seriously. The current market supply exceeds the demand, and the price of PP melt blown materials has fallen continuously. PP (35.5%) business in August. However, overseas demand did not decrease. In the middle of this month, several large domestic export factories failed, affecting the market atmosphere, leading to a significant decline in the market. In the follow-up, there are complications that aggravate the competition of domestic anti epidemic product manufacturers. However, the reason for the weakness of PP melt blown materials in the general direction is that the domestic mask factories have increased sharply and their profits have been diluted seriously. In addition, at the beginning of this month, the news that Sinopec’s Yanshan Petrochemical and Yizheng Chemical fiber changed from directional supply to national customer sales also impacted the current market. At present, the epidemic prevention materials are more diversified, and the demand for meltblown materials is also scattered. The demand for PP (melt blown) has not improved, and the business mentality is negative. It is expected that the melt blown materials will still be difficult to improve in the near future.
Future forecast
PP business agency analysts believe: August domestic PP spot market trend shocks strong. Upstream propylene market is strong, there is support for PP cost side. PP (drawing) and PP (fiber) fluctuated and rose, PP (melt blown) demand continued to be weak, prices continued to callback. The current inventory decline, supply expansion expectations and futures rise and other mixed news at the same time. Downstream factory stock situation is OK, business offers have increased. PP spot price is expected to narrow the range of adjustment in the near future.
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