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【Morning Update on Recycled PP】Recycling companies are selling according to the market, with the trend of recycled PP mainly stable and consolidating.

Longzhong 2025-03-20 09:21:06

I. Focus Points

1. Crude Oil: 3/19: The US EIA inventory data was mixed, and with the Fed announcing in March that it would not cut interest rates for the time being, international oil prices ultimately rose slightly. NYMEX crude oil futures 04 contract at $67.16, up $0.26 per barrel, a sequential increase of +0.39%; ICE Brent crude oil futures 05 contract at $70.78, up $0.22 per barrel, a sequential increase of +0.31%. China's INE crude oil futures main contract 2505 fell by 2.0 to 521.4 yuan per barrel, and the night session fell by 0.3 to 521.1 yuan per barrel.

2, Polypropylene: Futures fluctuated, with market quotes remaining largely unchanged, and some resources saw a slight decline. The supply side continued to increase output, with no reduction in supply pressure. In the short term, downstream demand for spot purchases was insufficient, mainly maintaining low-price procurement, providing limited support for polypropylene prices. By midday, the mainstream price of drawing yarn in East China was 7270-7420 yuan/ton.

3, BOPP: PP futures fluctuate within a range, the spot market is mostly stable, petrochemical factory prices are basically stable, cost support is insufficient, film manufacturers' factory prices are steadily declining, the mainstream market prices are basically stable, market inquiry atmosphere is lukewarm, downstream buyers mostly maintain low-price small orders for replenishment.

Market Outlook

The recycled PP market trend is mainly stable, with downstream purchases entering the market according to demand, and the market trading atmosphere is flat. The increase in orders within the market is limited, and the inquiry and purchasing atmosphere is average. The market has a strong wait-and-see sentiment, and the price of new materials is weakly adjusted. The narrowing of the price difference between new and old materials currently provides no support to the market. Recycled material enterprises are selling goods according to the market, and it is expected that today's market trend may continue to be a consolidation trend. It is recommended to closely monitor changes in upstream supply and downstream demand.

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【Morning Update on Recycled PP】Recycling companies are selling according to the market, with the trend of recycled PP mainly stable and consolidating.

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