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Polypropylene PP: The situation in Iran escalates, crude oil futures both rise, and spot prices rise

69,503
April 19, 2024, 5:14 PM

Sinopec inventory: two-oil polyolefin inventory of 805000 tons, 5000 tons less than yesterday.


PP futures analysis: April 19 PP2405 opening price: 7610, highest price: 7720, lowest price: 7575, position: 407868 lots, settlement price: 7653, yesterday settlement: 7599, down: 2, daily trading volume: 691198 lots.


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

Region

April eighteenth

April nineteenth

Rise and fall

North China

7480-7600

7550-7650

70/50

East China

7530-7680

7570-7730

40/50

South China

7630-7670

7650-7730

20/60

 

 

PP China spot market analysis: today, China's PP market is significantly higher, China's mainstream wire drawing prices range from 7550 to 7730 yuan / ton, and daily increases range from 20 to 70 yuan / ton. On the face of the news, early Friday morning, explosions were heard in Isfahan in central Iran, Suwida province in southern Syria, and Baghdad and Babylon provinces in Iraq. WTI crude oil futures rose to 2 per cent at one point in Asian trading. At the same time, the PP futures market rose in a straight line after the opening of the day, and the disk set a recent stage high. For the spot market boost performance is obvious, traders take advantage of the opportunity to overreport, part of the day continuously raised quotations. At the same time, petrochemical and coal enterprises actively cooperate with the pull up, and the cost-side driving effect is strong. Downstream rigid demand to enter the market, catch up and take goods cautiously.


PP spot trend forecast: raw materials: crude oil disk continues to operate at a high level, pay attention to the geographical trend. Petrochemical policy: the two oil and coal enterprises began to increase, and the cost driver has become stronger. 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 reduced. On the demand side, the overall downstream demand is relatively stable, driving little in the short term. Under the comprehensive influence, it is expected that the short-term PP market is still high and strong.

China's PP index: according to Tudor data, China's PP spot index rose 45, or 0.59%, to 7647 on April 19.

 

China installation parking Summary:

Enterprise name

product line

Production capacity

Parking Duration

departure time

Dalian Petrochemical Corporation

Third line

5

August 2, 2006

To be determined

Wuhan Petrochemical Corporation

Old equipment

12

November 12, 2021

To be determined

Haiguolong oil

First line

20

February 8, 2022

To be determined

Haiguolong oil

Second line

35

April 3, 2022

To be determined

Tianjin Petrochemical Company

First line

6

August 1, 2022

To be determined

Jinxi Petrochemical

Single line

15

February 16, 2023

To be determined

Yanshan Petrochemical

Second line

7

September 18, 2023

To be determined

Shaoxing Sanyuan

New line

30

September 20, 2023

To be determined

Qinghai Salt Lake

Single line

16

October 27, 2023

To be determined

Changzhou Fude

Single line

30

November 1, 2023

To be determined

Jingbo polyolefin

First line

20

November 1, 2023

To be determined

Luoyang Petrochemical

First line

8

November 3, 2023

To be determined

Hongrun Petrochemical

Single line

45

December 6, 2023

To be determined

Qilu Petrochemical

Single line

7

December 23, 2023

To be determined

Lianhong Xinke

Second line

8

December 30, 2023

To be determined

Fujian Union

Old line

12

January 3, 2024

April 26, 2024

Gold energy chemistry

First line

45

March 8, 2024

To be determined

North China brocade

Old line

6

March 8, 2024

To be determined

Donghua Energy (Ningbo)

Second phase, second line.

40

March 20, 2024

April 20, 2024

Chinese Science Refining and Chemical Industry

First line

35

March 20, 2024

May 20, 2024

Chinese Science Refining and Chemical Industry

Second line

20

March 21, 2024

May 20, 2024

Dalian Petrochemical Corporation

Second line

7

March 31, 2024

May 10, 2024

Dalian Petrochemical Corporation

First line

20

March 31, 2024

May 10, 2024

Zhongyuan Petrochemical Company

First line

6

April 1, 2024

April 16, 2024

Zhejiang Petrochemical Corporation

First line

45

April 6, 2024

April 21, 2024

Fujian Union

Second line

22

April 14, 2024

April 17, 2024

Shenhua Baotou

Single line

30

April 16, 2024

May 15, 2024

Zhongjing Petrochemical

The second line of the first phase

50

April 16, 2024

To be determined

Haitian petrochemical

Single line

20

April 16, 2024

To be determined

Zhongyuan Petrochemical Company

Second line

10

April 17, 2024

To be determined

Donghua Energy (Ningbo)

The first phase

40

April 17, 2024

April 29, 2024

Sinopec

STPP

20

April 17, 2024

To be determined

Shenhua auction transaction: Shenhua Coal Chemical Industry today's auction volume of 2247 tons, an increase of 41.68% over yesterday; turnover of 2247 tons, an increase of 56.15% over yesterday, and a turnover rate of 100.00%, an increase of 9.27% over yesterday.