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SunSirs: Futures Boost, China PP Market was Pushed Up
November 27 2020 10:14:29SunSirs(Selena)

According to the data monitored by SunSirs, the domestic PP market was positive in the fourth week of November, and the spot prices of various brands increased significantly. As of November 25, the mainstream offer price of T30S (wire drawing) of domestic manufacturers and traders was about 9,033.33 RMB/ ton, an increase of 10.84% compared with the average price at the beginning of the month.

In the second half of November, the price of propylene upstream of PP increased significantly, and the average price of propylene on November 24 was 7,405.55 RMB/ ton. At present, the operation rate of propylene producers is not high, and there are still many sets of production lines can not resume operation, the supply side is slightly tense. At present, the inventory of the manufacturer is controllable without pressure, and the shipment situation is relatively smooth. In terms of demand, the downstream industry has a good enthusiasm for taking goods, with higher production profits, and traders are following the trend, with strong trading volume. Overall, there are multiple favorable supports in the propylene market at present, and the propylene price is expected to continue to rise in the near future.

The current market of propylene is positive, which has certain support for the cost side of PP. The data monitored by the business agency shows that the recent price trend of PP (drawing) is better. In terms of demand, with the continuous rise of PP, the cost pressure of the plastic knitting industry compressed the profit space, and took goods to shrink. However, the overall order volume is acceptable, and the operating rate has a steady upward trend. The demand of injection molding downstream factories is large and the orders are strong. In terms of inventory, according to sources, PP producers had inventory of about 340,000 tons in the third week of November, which was at the year's low. Futures continued to rise in recent days, boosting the spot market confidence. PP is expected to continue the positive trend in the near future.

According to the data monitored by SunSirs, as of November 25, the mainstream offer of domestic producers and traders Z30S (fiber) was the same as that of drawing stock, with the price of about 9,033.33 RMB/ ton, which was 5.45% higher than the average price at the beginning of the month. It is expected that PP (fiber) will continue to improve in the near future.

PP meltblown material market recent shock finishing market, the overall price tends to stabilize. At present, the epidemic situation in China is generally stable. Recently, a small-scale rebound has occurred in some areas, and the demand has increased slightly. Some brands of melt blown materials have increased about 100-200 RMB/ ton in the near future.

SunSirs PP analysts believe that: the fourth week of November domestic PP spot market is more positive. The upstream propylene market is strong and the price is rising, which supports the cost side of PP. While the fundamentals are positive, futures have been pulling up day after day, boosting the spot market. PP (PP) prices up and down. Downstream factory stock procurement is stable, and the delivery is fair. China PP spot is expected to continue to strengthen in the near future.


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