According to the data monitored by the business agency, the domestic PP market price recovered steadily in mid September, and the spot prices of some brands fell back. As of September 24, the mainstream offer price of T30S (wire drawing) of domestic manufacturers and traders was around 8016.67 yuan / ton, a decrease of 1.64% compared with the average price at the beginning of the month.
| Azodicarbonamide (AC foaming Agent) |
Cause analysis
The domestic (Shandong) market price of propylene upstream of PP stabilized after rising in mid September. According to the data from the bulk list of business associations, since September 1, the price of propylene has been rising continuously, and the upward range is getting larger and larger. Up to the 4th, the price rose by 300 yuan / ton. From the 7th to the 10th, the first round of downward adjustment occurred, with a total reduction of 100-150 yuan / ton. After that, it slightly stabilized. The price rose again on the 13th, and rose by about 350 yuan / T on the 17th. On the 18th, the price began to hold steady. At present, the market has been trading at Between 7300 and 7600 yuan / ton, the mainstream price is about 7465.45 yuan / ton. Propylene manufacturers to ship smoothly, low inventory. The crude oil price has risen significantly, the overall industrial chain is better, the profit of downstream products is generally optimistic, the purchasing enthusiasm is good, but the market atmosphere is still lively, but the price is in the top position. Therefore, it is expected that the propylene price will start to stabilize in the later stage, which does not rule out the possibility of a small correction.
The recent high and stable price of upstream propylene has supported the cost side of PP. According to the data monitored by the business agency, the market performance of PP (wire drawing) was adjusted in September, and the spot price had a correction in the near future. In terms of inventory, PP inventory of two barrels of oil and other manufacturers decreased steadily, and the inventory level was in the low range over the years. Since the beginning of the month, the arrival of port cargo has been stable, and there is no obvious pressure on inventory. The near-term trend of far upstream crude oil is not very ideal, forming a certain pressure on chemicals under the industrial chain. At present, the production of PP maintenance equipment is more, and the shutdown situation is less. And some news said that there are also start-up projects, PP supply increase is expected to be negative. At present, although the downstream demand is normal, but the above negative factors still cause businesses to follow suit, and it is expected that PP (wire drawing) market will weaken.
| Bacillus thuringiensis |
According to the data monitored by the business agency, as of September 24, the mainstream offer price of domestic manufacturers and traders Z30S (fiber) was about 8316.67 yuan / ton. Compared with the average price level at the beginning of the month, there was a 2.89% increase, among which the spot price of fiber materials fluctuated and stabilized in mid September. At present, the production of fiber PP is normal and the downstream demand is acceptable. It is reported that the inventory of fiber materials has decreased steadily, and the consumption in peak season has certain support for the spot price. However, the negative news of crude oil falling and supply increasing restricted the fiber material market. PP (fiber) is expected to be pulled into the finishing market in the near future.
PP meltblown material market weakness continued, domestic PP melt blown material market confidence is insufficient, but the price is close to stable. At present, the epidemic situation in China is generally stable, and the demand for epidemic prevention products is declining. The pattern of market oversupply did not improve, but the price decline of PP meltblown materials narrowed. According to the data monitored by the business agency, the decline of PP (melt blown) has decreased since September. As of September 24, the average price of sample enterprises is about 14500 yuan / ton. This month, the market atmosphere seems to be immersed in last month’s overseas big bill failure. At present, some countries in the world may enter the rebound period of health events again, and the demand is expected to rise. However, the competition among domestic anti epidemic product manufacturers is still strong, and the profits of the main downstream mask factories are seriously diluted. Sinopec’s next sales of meltblown materials and cloth also have an impact on the market. The relationship between the future demand of PP (melt blown) and the profit of manufacturers is complex, and the mentality of merchants is negative. However, the spot price of melt blown PP seems to have fallen to a low profit point, which is expected to stabilize in the near future.
Future forecast
PP business agency analysts believe: mid September domestic PP spot market market callback. Upstream propylene market is strong, there is support for PP cost side. PP (drawing) inventory supply expanded expectations, prices have a certain range of correction. PP (fiber) market temporarily stable, PP (melt blown) demand continued to be weak, the price callback range narrowed. At present, the steady decline of inventory, supply expansion expectations and weak futures and other factors restrict the PP market. The stock situation of downstream factories is fair, the business mentality is general, and the offer follows the market. PP spot prices are expected to weaken in the near future.
| Melamine |