Polypropylene PP: It is difficult to go up and down, the bulls are weak and the short are annoying, alternate games waiting for new drivers

Sinopec inventory: two-oil polyolefin inventory of 800000 tons, down 40, 000 tons from yesterday.

PP futures analysis: April 2 PP2405 opening price: 7527, highest price: 7567, lowest price: 7521, position: 298983 lots, settlement price: 7543, yesterday settlement: 7516, up: 27, daily trading volume: 240683 lots.

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

PP China spot market analysis: today, China's PP market rose after shock operation, some market offers increased, the price is basically the same in the region yesterday afternoon new price; East China due to Fude is about to restart, some high prices have fallen. The mainstream prices of wire drawing in China range from 7380 to 7600 yuan per ton. The ex-factory prices of the two oil companies are firm and rising, with CNPC Northeast Pipe up by 50 yuan / ton, CNPC Southwest Wire drawing by 50 yuan / ton, and Sinopec in South China and East China by 50-100 yuan / ton. Coal company wire drawing only Jiutai raised 60 yuan / ton, other stable. From the cost point of view, the overall support and promotion role is strong at the beginning of the month. Superimposed since the end of the month upstream parking increment, the supply side is also good. But PP futures push up weak, today's market shock operation, for the spot market driving role weakened. Although traders intend to overreport, the enthusiasm of the terminal to catch up and take the goods is not high, and the new price is mediocre after the rise of the market, mainly through negotiation.

PP spot trend forecast: raw materials: crude oil disk further refresh stage new high, oil distribution disk into the 86-90 dollar area. The center of gravity of the raw material moves upward, which drives the production cost of polypropylene higher. Petrochemical policy: the current petrochemical continues to go to the warehouse, at the beginning of the month, the performance of the two cities is still good, the major regions are still up-regulated, and the supply cost is strongly supported. 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 influence, the short-term PP market is expected to remain volatile, focusing on the emergence of new drivers.

China's PP index: according to Tudor data, China's PP spot index was 7515 on April 2, stable.

China installation parking Summary:

Shenhua auction turnover: Shenhua Coal Chemical's auction volume today was 1545 tons, down 31.36% from yesterday; the turnover was 1478 tons, down 22.46% from yesterday, and the turnover rate was 95.66%, up 10.99% from yesterday.