SunSirs: Low Demand, China PP Market was Weak in Early June

According to the data monitored by SunSirs, the PP market in early June was volatile and the spot prices of various brands were reduced. As of June 10, the mainstream offer price of T30S (wire drawing) by domestic manufacturers and traders was around 8,300.00 RMB/ ton, a decrease of 4.41% compared with the average price at the beginning of the month, and a rise of 6.87% compared with the same period last year.

The domestic (Shandong) market price of PP upstream propylene stopped falling and rising in early June, with the price of 7,781 RMB/ ton at the beginning of the month, and the average price of 10 days was about 7,945.82 RMB/ ton, up 2.99%. Recently, events in the international crude oil market continued, and the price rise was objective, which played a certain cost support for the price rise of propylene in the first ten days. However, some of the downstream downriver is obvious, and propylene is expected to rise in shock.

The upstream propylene market is warming, and PP cost side support is strengthened. In the first ten days of this month, the domestic market continued the previous pattern. Although power rationing affected production in some regions, the overall supply pressure did not improve. The market is generally short, and petrochemical plants generally reduce the ex-factory price.

In terms of fiber materials, according to the data monitored by the business society, as of June 10, the mainstream offer of domestic producers and traders Z30S (fiber) was similar to that of wire drawing materials, with a price of about 8,566.67 RMB/ ton, a decrease of 1.15% compared with the average price at the beginning of the month, and a rise of 9.13% compared with the same period last year.

Meltblown materials, the recent meltblown PP market fell, spot prices generally down. As of June 10, the average quotation of PPH-Y1500 sample enterprises monitored by SunSirs was about 10,400 RMB/ ton. Melt blown PP market is expected to continue to narrow adjustment.

SunSirs PP analysts believe that, in early June, the domestic polypropylene market fluctuated and fell. The current market is still in the traditional off-season demand, low consumption. Crude oil and propylene in the upstream of the industrial chain are stronger. The current market support mainly comes from the upstream. It is expected that PP price will remain weak in the near future in China.

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