Polypropylene PP: Futures have three consecutive negative days, poor mentality in the market, and a slight decline in spot prices

Sinopec inventory: two-oil polyolefin inventory of 865000 tons, an increase of 40, 000 tons over last week.

PP futures analysis: March 25th PP2405 opening price: 7543, highest price: 7551, lowest price: 7504, position: 374646 lots, settlement price: 7525, yesterday settlement: 7558, down: 33, daily trading volume: 275141 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 7400-7580 yuan / ton, the decline in 30-7580 yuan / ton. Petrochemical, two oil depots 865000 tons early this morning, there is still a large inventory pressure upstream. Ex-factory prices, PetroChina Northeast, Ningbo Formosa Plastics, Luqing Petrochemical, CNPC North China, Sinopec Huabei reduced factory prices ranging from 50-100 yuan / ton, other stable. Coal enterprises generally reduce prices by 30-50 yuan / ton, and the support of supply cost in the field is loose. PP futures fell continuously, the market mentality is not good, traders actively reduce positions and shipments, the offer moved down slightly. 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 changes from the cost side and the encashment of supply-side reductions, as well as the sentiment of capital on the disk. In terms of raw materials, the focus of crude oil is still on the geographical side, the Gaza ceasefire negotiations are still continuing, the real cease-fire has not yet been achieved, the US Gaza cease-fire bill has been rejected, and the geographical focus is still on Palestine and Israel, paying attention to the progress of the ceasefire. On the supply side: this week, the second line of Sinopec Refinery, Ningbo Fude, Dalian Petrochemical, Zhejiang Petrochemical and other parking, while the early maintenance equipment start-up is relatively limited, the overall supply is expected to be slightly reduced. At the end of the superimposed month, the sales of contractors are OK this month, and the supply of goods has 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 previous increase, and some high prices have room to fall back.

China's PP index: according to Tudor data, China's PP spot index fell 26, or 0.35%, to 7502 on March 25.

China installation parking Summary:

Shenhua auction turnover: Shenhua Coal Chemical Industry's auction volume today was 3866 tons, an increase of 92.63% over yesterday; the turnover was 2418 tons, an increase of 72.22% over yesterday, and the turnover rate was 62.55%, down 7.41% from yesterday.