Daily Review: Polypropylene Pellets Prices Edge Up Slightly, Traders Hold Firm and Reluctant to Sell Ahead of Holiday

On April 30, the average market price of polypropylene (PP) pellets was RMB 9,333 per ton, up RMB 48 per ton or 0.52% from the previous working day. Today, the mainstream trading prices for homopolymer PP raffia grade ranged between RMB 9,150 and RMB 9,400 per ton. Domestic market prices rose slightly. International crude oil prices continued to rise, providing supportive backing from the cost side. With the approaching May Day holiday and tight spot supply, traders held firm prices and were reluctant to sell. However, downstream buyers mainly replenished stocks based on immediate needs, resulting in a muted trading atmosphere.

North China Market: On April 30, PP prices in the Linyi market were firm and stable, with futures also firm and stable; spot prices followed accordingly, and actual transactions were negotiated. In Shandong Province, the mainstream transaction price for homopolymer (raffia-grade) PP was RMB 9,250–9,450 per ton (tax-inclusive, ex-factory); for injection-molding grade PP, it was RMB 9,200–9,400 per ton (tax-inclusive, ex-factory); and for fiber-grade PP, it was RMB 9,800–9,950 per ton (tax-inclusive, ex-factory).

East China market: On April 30, the PP market in Yuyao rose, with a market atmosphere of holding back supplies, and dealers set prices to lock in profits, leading to a rise in the spot price. The mainstream transaction price of extrusion grade in the east area was between 9,300-9,350 yuan/ton ex-works with tax, the mainstream transaction price of injection grade was between 9,300-9,400 yuan/ton ex-works with tax, and the mainstream transaction price of fiber grade was between 9,400-9,600 yuan/ton ex-works with tax.

South China market: On April 29, Xiamen PP prices rose slightly. The futures market continued to rise before the holiday, and traders raised their quotes accordingly, with transactions negotiated on a case-by-case basis. The main selling prices for South China region's injection grade materials were between 9,350-9,550 yuan/ton, ex-tax. The main selling prices for molding grade materials were between 9,600-9,800 yuan/ton, ex-tax. The main selling prices for fiber grade materials were between 9,750-9,900 yuan/ton, ex-tax.

Market Forecast: The futures market strengthened in the morning, boosting the sentiment of the spot market. The cost support is solid, and before the holiday, merchants are mainly holding prices and reluctant to sell, while downstream manufacturers are restocking based on rigid demand. It is expected that in the next working day, the polypropylene market price will continue to rise, with a price fluctuation range of 30-100 yuan/ton.