Industry News
The polypropylene market is fluctuating and the demand side is slowly improving downstream due to consolidation
1、 The recent trend of the PP market has been volatile
The polypropylene market has been fluctuating this week. During the period, the trend of PP futures fluctuated, with limited market support. The ex factory prices of petrochemical and PetroChina enterprises were mostly lowered within the day, and the mainstream spot market prices fluctuated narrowly; During this period, the Li and Zhixin facilities were shut down, and a small number of companies such as China and South Korea's petrochemical industry started operating, resulting in a slight increase in maintenance losses compared to the previous period. From a demand side perspective, downstream users maintain a strong demand, and inventory depletion in various stages is slow, resulting in insufficient upward momentum in the market; However, during the two sessions, there was a preference for policy and it was difficult to open up the downward space on the market, resulting in market fluctuations. As of the close, the mainstream offer for wire drawing was 7300-7500 yuan/ton, a decrease of 50-20 yuan/ton from last week, while the mainstream offer for Juju was 7400-7800 yuan/ton, a decrease of 20-0 yuan/ton from last week.
2、 Increase in maintenance devices for later coal gasification plans
According to data statistics, except for Shenhua Xinjiang with an annual output of 450000 tons, most coal chemical maintenance facilities in the northwest region are concentrated in the second quarter for shutdown and maintenance. From the perspective of maintenance time, the parking time usually lasts for more than 20 days. In addition, the parking devices mainly produce wire drawing and low melting copolymerization. It is expected that prices in some regions may be affected to some extent in the second quarter.
3、 About the aftermarket
At present, the polypropylene market is tending towards a volatile consolidation mode, with slow improvement in downstream demand on the demand side. The main support point is the policy boost during the two sessions in China, so it is difficult to open up the downward space of the market. In the second quarter, the coal chemical industry in the northwest region will enter a centralized maintenance period, with a total maintenance capacity of 2.21 million tons. In recent years, the production intensity in the northwest region has slowed down. If the planned maintenance enterprises proceed as scheduled, there will be a speculative atmosphere in the market, and prices will also be subject to certain incentives. However, overall, domestic production will continue in the later stage, and further attention should be paid to the supply and demand aspects.
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