Polypropylene PP: The market fell to the middle track of Bollinger, spot fell slightly, and market buying sentiment was light

Sinopec inventory: two-oil polyolefin inventory of 825000 tons, an increase of 5000 tons over yesterday.

PP futures analysis: March 22nd PP2405 opening price: 7593, highest price: 7606, lowest price: 7518, position: 404490 lots, settlement price: 7558, yesterday settlement: 7594, down: 36, daily trading volume: 357980 lots.

Mainstream quotation for wire drawing in PP market: yuan / ton

PP China spot market analysis: today, China PP market prices fell slightly, China wiredrawing mainstream prices in 7430-7650 yuan / ton, a decline in 20-50 yuan / ton. Petrochemical, two oil depots 825000 tons early this morning, there is still a large inventory pressure upstream. Ex-factory prices, PetroChina Northeast, Sinopec South China some categories raised ex-factory prices ranging from 50-100 yuan / ton, other stable. Coal enterprises generally reduce prices by 20-50 yuan / ton, and the support of supply cost in the field is loose. PP futures fell back to a high, traders actively reduce positions and shipments, offer slightly lower. Downstream rigid demand to enter the market, the overall transaction performance is general.

PP spot trend forecast: for the future market, we still need to pay attention to the game from the cost side and the supply side, as well as the sentiment of capital on the disk. Raw materials: the current crude oil geography, fundamentals and macro drivers are still neutral. Russian refineries, oil depots and other related facilities have been frequently attacked, and the support of geographical factors to the crude oil disk has been strengthened. Us stocks have fluctuated at recent highs, the overall market remains strong, and macro risk appetite has not changed significantly for the time being. In terms of fundamentals, the overall tone of the recent monthly reports of the three major institutions is on the strong side, and most of them give expectations of supply shortages this year. International oil prices are easy to rise but difficult to fall, and the raw material end is supported strongly. On the supply side: the second line of China Science Refining and Chemical Industry, Ningbo Fude, Dalian Petrochemical and Zhejiang Petrochemical will be added next week, while the start-up of pre-maintenance equipment is relatively limited, and the overall supply is expected to be slightly reduced. At the same time, after the recent rapid removal of two oils to the warehouse, superimposed next week happens to be the end of the month, the sales of contractors are OK this month, and the supply of goods has been tightened at the end of the month; in terms of demand, the downstream has returned to normal start-up, although there is an increase in demand for raw materials, but there is obvious resistance to high prices. And the futures market fell sharply, suppressing the market buying gas and suppressing the market. Under the comprehensive influence, the short-term PP market shock is expected to run weakly, digesting the recent increases, and some high prices have room to fall back.

China's PP index: China's PP spot index fell 19, or 0.25%, to 7528 on March 22, according to Tudor data.

China installation parking Summary:

Shenhua auction turnover: Shenhua Coal Chemical Industry's auction volume today was 2007 tons, down 37.96% from yesterday; the turnover was 1404 tons, 50.94% lower than yesterday, and the transaction rate was 69.96%, 18.51% lower than yesterday.