China Petrochemical Inventory: The polyolefin stocks of the two oils were 810,000 tons, an increase of 35,000 tons from last week.
Analysis of PP Futures: 9Opening price of PP2501 on June 23:7290, highest price: 7295, lowest price: 7227, open position: 552439, settlement price: 7261，Yesterday's settlement: 7319, down: 58.
Mainstream quotes for wire drawing in the PP market:
Propylene market price list
PP China spot market analysis: Today, China's PP market is weak, with prices in North China holding stable, and market prices in East China and South China falling by 10-30 yuan/ton. In terms of price: mainstream polypropylene prices in China range from 7340-7630 yuan/ton. International oil prices rose, but the increase was narrower. The polyolefin inventory of the two oils accumulated over the weekend, compounded by the accumulation of PP commercial inventory, while the downstream maintenance just needed to get the goods and the willingness to replenish the stock was weak. Today, the focus of PP prices in China has shifted slightly, and high-priced market transactions have been blocked. Traders are cautious to deliver goods.
PP spot trend forecast: In terms of raw materials, although the crude oil market still has concerns about demand, the positive impact of the Federal Reserve's interest rate cut on the market economy is gradually emerging. Coupled with the potential risks of the situation in the Middle East, there is still room for international oil prices to explore. In terms of supply, Ningbo Jinfa and Hainan ethylene PP plants plan to resume running in the short term. In addition, there are no PP plants planned for maintenance, and the supply of goods on site may increase. On the demand side, terminal orders are gradually improving, downstream industries are starting to start more, and the National Day is approaching, and downstream factories may replenish stocks in advance. The demand for raw materials PP may form a certain support for PP market prices. Overall, it is expected that there may be room for growth in the polypropylene market in the short term.
China PP Index: According to Tuduo data, China's PP spot index on September 23 was 7458.33, down 8, or 0.11%.
Summary of plant parking in China:
Shenhua auction transaction status: Shenhua Coal Chemical's auction volume today was 3086 tons, an increase of 15.67% from yesterday; the transaction volume was 1231 tons, a decrease of 33.92% from yesterday, and the transaction rate was 39.89%, a decrease of 29.94% from yesterday.
