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SunSirs: A Sharp Correction in Wire-Drawn Polypropylene From A Return to Rational Strike

April 24 2020 07:58:06     SunSirs (Daisy)

Up and down like a product of the pros and cons, just a long drought on the gan line of polypropylene rose and fell again. According to the business agency monitoring data show that on April 17 (Friday) domestic PP (wiper) market prices fell sharply, spot down more than a thousand. As of this evening, the mainstream offer price of domestic manufacturers and traders in T30S was around 8033.33 yuan/ton on average, a one-day drop of as much as 7.66%. On the contrary, PP (fiber) market price is stable, even some manufacturers raised the price of fiber products. If the rally at the start of the week was a market frenzy, then today's rally is a signal that the market is returning to reason.

Polypropylene, which ended a three-month losing streak on June 6, has been rising sharply. Spot price of domestic polypropylene market is soaring, polypropylene is available for a short time. Polypropylene, as an important material for prevention and control of public health, enjoys a high profile. At the same time, there are some small workshop with polypropylene fiber material production of substandard masks, more investment market blindly after the rise of polypropylene in order to share a piece of soup in the rise, thereby causing all the polypropylene materials rise without distinction. According to the monitoring data of the business agency, PP (wire drawing) recently reached the highest average price of 8700.00 yuan/ton, the largest increase than the average price at the beginning of the month higher than 32.82%. As Jiangsu Yangzhong and other areas of the relevant departments of the inferior mask manufacturers to vigorously rectify, the industry for masks with polypropylene material diffusion, and polypropylene market today gradually return to the rational

Upstream, outside news that Saudi Arabia and Russia and other major oil producers issued a reduction agreement, crude oil did not rise but fell, WTI and brent are big declines. The industry's response to its production cut may be less than the global market demand recession expectations, direct upstream PP propylene has negative impact. On Monday after a weekend of the boom, the market or to digest, roughly on April 14, most obvious downward price 1000 yuan/ton, partly or response to soaring prices skyrocketing enterprises, more than 15 prices downward 500 ~ 1000 yuan/ton. On April 16 prices continue to decline in 200 yuan/tons, today there are still downside price 400 yuan/tons, now the market clinches a deal between 5900 ~ 6500 yuan/ton, mainstream price is in 5900 yuan/tons.

PP (fiber) as the secondary main force of prevention and control materials, today is not with the PP (brushed) down. Factory prices temporarily stable, the current demand can be. This may be evidence that new entrants to the market are becoming more professional and are less likely to buy and sell blindly. The stir-fry atmosphere is weak, gradually return to the general law of supply and demand prices.

Market Forecast: SunSirs PP analysts think that on April 17 domestic PP (wiredrawing) spot market high sharp correction, return to reason. The price of upstream propylene also recovered to about 5900 yuan/ton, and the support of PP cost side returned to the normal law of supply and demand. The rework rate of downstream factories needs to be further improved. Demand side orders follow up generally. PP (fiber) has not been affected, the price is stable.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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