Polypropylene PP: The market continued its decline, coal companies lowered prices, and the spot market was weak and fell

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April 23, 2024, 5:12 PM

Sinopec inventory: 8.795 million tons of two-oil polyolefin inventory, 60, 000 tons less than yesterday.

PP futures analysis: April 23rd PP2405 opening price: 7625, highest price: 77639, lowest price: 7545, position: 389934 lots, settlement price: 7592, yesterday settlement: 7632, down: 40, daily trading volume: 433689 lots.

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

Region	April 22nd	April twenty _ third	Rise and fall
North China	7550-7650	7540-7630	-10/-20
East China	7570-7730	7550-7730	-20/0
South China	7630-7700	7600-7680	-30/-20

PP China spot market analysis: today, China's PP market is weak, and the mainstream price of wire drawing in China ranges from 7540 to 7730 yuan per ton, with a daily decline of 10 to 30 yuan per ton. On the face of the news, signs of easing the conflict between Iraq and Israel are becoming more and more obvious, geopolitical concerns have cooled, and international oil prices continue to fall. At the same time, the stock market and commodities both fell, and PP futures fell back, which has a significant drag on the spot market. Although petrochemical is still up-regulated, shipments have not been smooth in recent days, resulting in a lack of confidence in the industry. Traders are active in shipping goods, and the phenomenon of giving profits on firm offers is common. Downstream rigid demand to enter the market, intraday turnover is weak.

PP spot trend forecast: raw materials: crude oil disk continues to operate at a high level, pay attention to the geographical trend. Petrochemical policy: two oil rose steadily, coal companies began to reduce prices, cost-driven from strong to weak. 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 demand downstream is relatively stable, but the high-price procurement is limited, and the progress of the market is not fast. Under the comprehensive influence, it is expected that the short-term PP market is still volatile and weak.

China's PP index: according to Tudor data, China's PP spot index fell 16, or 0.21%, to 7622 on April 23.

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 turnover: Shenhua Coal Chemical's auction volume today was 1334 tons, down 34.16% from yesterday; the turnover was 1309 tons, down 0.30% from yesterday, and the turnover rate was 98.13%, an increase of 33.32% over yesterday.