Polypropylene Morning Brief: Market Prices Rapidly Decline, Expected to Continue Small Range Consolidation

I. Focus Points

1 3/10: The market believes the Israel-Iran conflict may conclude faster than expected, and the G7 group may release strategic petroleum reserves, leading to a decline in international oil prices. NYMEX crude oil futures April contract fell by USD 11.32/barrel to USD 83.45, down 11.94% week-on-week; ICE Brent crude oil futures May contract fell by USD 11.16/barrel to USD 87.80, down 11.28% week-on-week. China’s INE crude oil futures April 2026 contract declined by CNY 14.2 to CNY 732.4/barrel, and dropped by CNY 90.4 to CNY 642/barrel during the night session.

2、 The average operating rate of the domestic polypropylene downstream industries (including plastic weaving, injection molding, BOPP, PP pipes, PP nonwoven, CPP, PP transparent, and modified PP, a total of 8 industries) increased by 8.33 percentage points to 45.07% this week (Feb 27 - Mar 5).

3、 In March 2026, China's polypropylene production is estimated to be 3.3713 million tons. Increased by 256,500 tons month-on-month, up 8.23%; increased by 48,600 tons year-on-year, up 1.46%.

4、 On March 10, FOB Korea propylene dropped by $10 to $1,100/ton, while CFR China propylene fell by $85 to $1,135/ton.

Core logic: Translate the above content into English, output the translation directly, without any explanation.The Israel-Iran conflict is expected to end sooner than anticipated, leading to a decline in market speculation and a pullback from high prices. 。

II. Price Form

III. Market Outlook

Expectations that the Israel-Iran conflict could end sooner than anticipated, and The possibility of the G7 group releasing strategic reserves led to a significant drop in oil prices, futures fell, and the market speculation atmosphere slightly weakened. Coupled with previous resistance from downstream manufacturing enterprises against high-priced goods, the market price quickly retreated, continuing with a slight fluctuation. It is expected that...Mainstream raffia in East China is expected to be priced at RMB 7,850–8,050 per ton.

IV. Data Calendar