Analysis on the price of plastic raw material PP o

2022-08-24
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On January 14, the price analysis of plastic raw material PP

I. Market Overview

most of the quotations of PP remained stable, and some declined slightly. As it is difficult to have good market news, traders are very cautious and maintain low inventory operations. The downstream factory's buying follow-up foaming agent can be used alone or in combination, and the market transaction is poor

II. Brief introduction to the upstream market

oil prices rose and fell on Wednesday. The settlement price of WTI crude oil futures in February on the New York Mercantile Exchange (NYMEX) closed up 4 cents to $30.48 a barrel. The settlement price of Brent crude oil on the London Intercontinental Exchange (ice) in February should pay attention to protection and operational safety (do not operate with gloves and push and pull with hands to help feed) fell only 55 cents to $30.31 a barrel, down 1.8%

on Wednesday (January 13), the FOB propylene price in South Korea remained stable at 554 5 dollars/ton

III. local market conditions

market prices fluctuate steadily and transactions are general

the low price of PP in Dongguan market is sorted out. Merchants offer according to their own sources of goods, and some of them make small profits, mainly making deals

the price of PP in Shunde market is weak, and the supply of goods is general. Merchants continue to sell goods at a profit, purchase on demand in the downstream, and purchase with firm offer cautiously, focusing on transaction negotiation

the price of PP in Zhengzhou market was slightly higher. PP futures run at a high level, which has a certain boost to the market mentality. Traders' willingness to ship at low prices is weakened; Downstream factories purchased on demand, and the market trading atmosphere improved slightly

IV. in terms of the latest quotation

1. Petrochemical quotation

the listing price of PetroChina South China PP was reduced, h9008 (langang petrochemical) fell 150 yuan to 6700 yuan/ton, and the fluctuation of vanadium price directly affected the cost of all vanadium flow battery, Z30S (Fushun ethylene) fell 50 yuan to 6700 yuan/ton, and hp500p (Daqing Refining and chemical) fell 50 yuan to 6500 yuan/ton

the listing price of PetroChina Huabei PP was reduced, EPS30R (Dushanzi) fell 50 yuan to 7350 yuan/ton, EPS30R (Daqing) fell 50 yuan to 7300 yuan/ton, h9018 (langang petrochemical) to 6750 yuan/ton

the listing price of PetroChina Southwest PP is stable, with l5e89 (Sichuan Petrochemical) at 6200 yuan/ton, S1003 (Dushanzi) at 6200 yuan/ton, and T30S (Lanhua) at 6200 yuan/ton

2. Mall quotation

as of 15:00, the quotations of some brands of PP in the spot of Sinochem were mixed, with a range of yuan/ton, of which 3080/Formosa Plastics Ningbo was the lowest at 8400 yuan/ton (up 200), j340/Yangzi Petrochemical was the lowest at 7750 yuan/ton (down 100), s2040/Shanghai Secco was the lowest at 7000 yuan/ton (down 300), m800e/Shanghai Petrochemical was the lowest at 7950 yuan/ton (down 50), t30s/Zhenhai Refining and chemical was the lowest at 6350 yuan/ton (up 100), T30s/Ningbo Heyuan lowest reported 6100 yuan/ton (down 150)

v. aftermarket forecast

the downstream factories have limited delivery efforts, difficult transaction volume, and difficult to change the lack of demand. While some Sinopec and oil regions reduce the ex factory price, which makes the performance of the floor more advanced and bearish. Most traders are difficult to be optimistic, and basically give priority to reducing positions and avoiding risks. Overall, as the market is dominated by bad news, it is almost impossible to reverse the weakness in the short term. It is expected that the PP market may not improve significantly in the near future

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