SunSirs: China BOPP Prices Continue to Decline slowly
March 20 2024 15:51:12 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the BOPP market price continued to slowly decline this week. As of March 18th, the mainstream quoted price of domestic producers and traders of 18μm BOPP film was around 9,566 RMB/ton, a decrease of about 0.3% from last week's average price and about 0.6% from the beginning of the month's average price.
In terms of raw materials: From the above chart, it can be seen that the price of raw material PP has fluctuated and increased this month. The mainstream quoted price of domestic manufacturers and traders T30S (wire drawing) is around 7,720 RMB/ton, an increase of about 0.1% compared to last week. The cost support of raw material PP for BOPP prices is slightly stronger, but there are more bearish factors.
On the supply side, there are still some undelivered orders, with abundant inventory, increased operating rates of film companies, and sufficient supply on the supply side
In terms of demand: Downstream enterprises have insufficient demand, resulting in reduced order volume and weak market demand for price support
It is expected that BOPP prices will slowly decline.
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