Polypropylene PP: Five upstream intensive parking, coal companies rose 80 yuan/ton at the highest price, and the market rebounded at the beginning of the month

Sinopec inventory: 840000 tons of two-oil polyolefin inventory, an increase of 80, 000 tons over Friday.

PP futures analysis: April 1 PP2405 opening price: 7483, highest price: 7550, lowest price: 7479, position: 307364 lots, settlement price: 7516, yesterday settlement: 7483, up: 33, daily trading volume: 252804 lots.

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

PP China spot market analysis: today, China's PP market ushered in a good start, China wiredrawing mainstream prices in 7350-7630 yuan / ton, up 20-80 yuan / ton compared to last Friday. Petrochemical, 5 upstream enterprises intensive parking (see table below for details), the market supply further shrank. Although the two oil reserves have been burdened, CNPC Northeast, CNPC South China and Sinopec East China are still up-regulated, with an increase of 50-100 yuan per ton. Coal enterprises Yulin, Mengda, Ning Coal, Yanchang raised 30-80 yuan / ton, the supply cost of goods in the field is higher. And PP futures in the commodity "restless" market, a change of decline, reducing positions rebounded, driving the spot market atmosphere. The holder took the opportunity to overreport, and the market price went up. Downstream rigid demand to buy, some middlemen moderate purchase, the overall atmosphere is warmer than last week.

PP spot trend Forecast: raw materials: the current focus of the crude oil market is still on the geographical situation, the Gaza ceasefire negotiations have reached an impasse, the Palestinian-Israeli conflict has not been effectively resolved, but the cease-fire negotiations are still continuing. Geographical factors are still the main positive support source of crude oil disk, the trend of geographical situation determines the degree of short-term pricing of crude oil, and the upgrading or cooling of the geopolitical situation will determine the rising and falling trend of crude oil; as for coal, most coal mines in the region maintain normal production, individual coal mines stop production and maintenance in the current month, and the overall coal supply level is slightly reduced. With the end of central heating in northern regions, the actual demand performance is not good, the rise in coal prices still lacks strong support, and it is expected that the market coal price stalemate is weak in the later stage. On the supply side: since late March, there has been an increase in equipment overhaul in China. In April, there are still many devices parking, including Zhejiang Sinopec, Shenhua Baotou and Datang. At the same time, the possibility of operating parking due to cost is not ruled out, and the market supply is expected to be significantly reduced. On the demand side, the overall downstream demand is relatively stable, driving little in the short term. Under the comprehensive impact, it is expected that the short-term PP market will still maintain a volatile city, and there is still a small room for exploration under the expectations of petrochemical increases at the beginning of the month.

China's PP index: according to Tudor data, China's PP spot index rose 52, or 0.70%, to 7515 on April 1.

China installation parking Summary:

Shenhua auction turnover: Shenhua Coal Chemical's auction volume today was 2251 tons, an increase of 18.85% over yesterday; the turnover was 1906 tons, an increase of 7.02% over yesterday, and the turnover rate was 84.67%, down 9.36% from yesterday.