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【Morning Tip on PP】Supply pressure is still manageable, expecting a slight market increase today

Longzhong 2025-03-25 08:36:51

I. Focus 1. **关注点**: 关注点是指当前任务、项目或项目中要做的工作。关注点是指当前任务、项目或项目中要做的工作的重要性和紧急程度。 2. **任务**: 任务是指某个项目或项目中要完成的工作或活动。 3. **项目**: 项目是指某个更大的任务或多个任务的集合。

1, 3/24: US plans to intensify sanctions on oil-producing countries like Venezuela, increasing potential supply risks, leading to rising international oil prices. NYMEXThe 05 Crude Oil contract rose by $0.83 per barrel, an increase of 1.22% YoY; the ICE Brent Crude Oil futures contract 05 increased by $0.84 per barrel, up 1.16% YoY. The main contract of China's INE Crude Oil futures, 2505, jumped to 533.3 CNY per barrel, climbing 2.0, and the night session rose to 538.8 CNY per barrel.

On March 24, the FOB price of propylene in South Korea fell by $10 to $800/ton, and the CFR price in China fell by $5 to $825/ton.

March 24: Details of domestic PP maintenance changes: The PP unit (70,000 tons/year) of Dushanzi Petrochemical has restarted production. The PP unit (100,000 tons/year) of Hainan ethylene STPP has restarted production.

Core logic: Cost-side support strengthened, demand slightly improved.

II. Price List

Market Outlook

With the rise in international crude oil prices, cost support strengthens, and with the warming weather in March, end-use demand for plastic and construction industries gradually improves, resulting in increased purchasing willingness from downstream buyers. However, adjustments in overseas tariffs will have a certain impact on the export of downstream products. Given the relatively dense schedule of maintenance activities recently, supply pressure remains manageable, and a slight market increase is expected today. The main price of polyester yarn in Zhejiang is projected to rise slightly to 7280-7450 RMB per ton.

V. Data Calendar

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【Morning Tip on PP】Supply pressure is still manageable, expecting a slight market increase today

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