SunSirs: PP Daily Review on April 18
April 19 2022 09:13:08 SunSirs (John)
Price trend
According to the data monitored by SunSirs, the PP market rose on April 18, and the spot prices of various brands began to rise. According to the price of SunSirs, the reference price of mainstream T30S (drawing) offered from domestic manufacturers was around 8,790 RMB/ton.
Analysis review
A Previously, the operating rate of domestic PP enterprises has declined, and the bullishness of the supply side in the field has gradually emerged. On the cost side, although the impact of international crude oil on the downstream market is quite different, crude oil has rebounded sharply recently, and the direct upstream propylene has followed suit. The support of the PP cost side has been strengthened, the company has raised the ex-factory price, and the merchant has tried to make a high report. On the demand side, buyers tended to purchase on demand to maintain production. It’s heard that the raw material inventory of downstream enterprises was high, and the trading level on the market was lower.
Market outlook
The market is a long and short game, and it is expected that the PP price may continue to fluctuate in the short term.
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