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【PP Daily Review】Macro Boosts Support, Polypropylene Prices Slightly Rise

Longzhong 2025-04-02 17:48:16

1 Today's Summary

① Sinopec Central China has reduced prices for some PP products: Luoyang granular material 7300, M18 at 7300; Zhonghan 8009 at 7600; Zhongyuan MT35 at 8050, MT75N at 7550.

②、 The domestic polypropylene shutdown impact decreased by 1.64% to 17.08% today. Details of changes in domestic PP maintenance units: the second line of Zhongjing Petrochemical's Phase II (600,000 tons/year) PP unit has restarted. The daily production ratio of raffia decreased by 2.08% to 25.41%, mainly due to the switch to other products in the second line of Sinochem Quanzhou.

③、。

2 Current Spot Situation

Polypropylene priceSummary Table (Unit: Yuan/Ton)

market	4 Month 1 Day 1	4 February 2nd	Rise and fall value	涨跌幅 Fluctuation in price上涨/下跌的幅度
Nationwide	7337	7341	+4	0.05%
East China	7361	7369	+8	0.11%
North China	7295	7301	+6	0.08%
South China	7419	7422	+3	0.04%
Central China	7285	7286	+1	0.01%
Southwest	7313	7306	-7	-0.10%
northwest	7172	7174	+2	0.03%
Key Downstream
BOPP	8350	8350	0	0.00%

Data source:Longzhong Information

Start withAs of today, the closing price for polypropylene fiber in the East China region was 7,369 yuan per ton, an increase of 8 yuan per ton from yesterday, in line with the morning's expectations. Futures are trading in a range with a slight upward bias. Today, polypropylene prices are mainly consolidating. The implementation of tariff policies has boosted the market, and the red trend on the futures market is supporting spot quotes. However, terminal demand remains weak, causing spot prices to fluctuate. Market traders are mostly operating according to the market, with actual transactions being negotiated. By midday, the mainstream price range for拉丝in East China was between 7,320 to 7,450 yuan per ton. 。

Figure 1: Domestic Polypropylene Price Trend (Unit: Yuan/Ton)	Figure 2 Domestic polypropylene price trend chart by region (Unit: Yuan per ton)

Data source: Longzhong Information	Data Source: Longzhong Information

3 Spot-futures basis

In terms of basis, today the basis in the North China region is -57 yuan/ton, down 14 yuan/ton from yesterday; the polypropylene basis in the East China region is 11 yuan/ton, down 12 yuan/ton from yesterday.

Figure 3 North China Basis Trend (Unit: Yuan per ton)

Data source: Longzhong Information	Data source: Longzhong Information

4 Production dynamics

Polypropylene The capacity utilization rate increased from 74.46% to 76.02%, rising by 1.56% compared to the previous day. Today's changes in domestic PP unit maintenance: The second line of Zhongjing Petrochemical Phase II (600,000 tons/year) PP unit has restarted.

Figure 5: Trend Chart of Domestic Polypropylene Capacity Utilization Rate	Figure 6 Domestic polypropylene profit price trend chart (Unit: yuan/ton)

Data source: Longzhong Information	Data source: Longzhong Information

5 Market sentiment

Recently, international oil prices have been relatively strong, with support for PP at the bottom. The futures market has shown a firm performance, and spot prices have slightly increased. Downstream demand remains mostly cautious, with some entering the market for essential purchases, but there is limited acceptance of high prices, providing insufficient support for prices. Traders are primarily cautious and are letting go of inventory based on market conditions.

Affected by the US tariff policy, international oil prices may be dragged down due to concerns over demand prospects, which is expected to provide limited support for PP (polypropylene) from the cost side. In terms of demand, downstream purchases mainly maintain their minimum needs and tend to buy at lower prices, which does not significantly boost the market. On the supply side, there is no new increase in production capacity in the short term, coupled with the relatively concentrated maintenance shutdowns of production enterprises in the short term, keeping the supply pressure manageable. It is expected that the polypropylene market tomorrow may fluctuate within a range, with the mainstream price of East China拉丝 (a specific type of polypropylene product)mainly between 7,300-7,450 yuan/ton. Note: "拉丝" specifically refers to a type of polypropylene product used for fiber or filament production, but it's typically translated or left as-is in English technical contexts. If a more generalized translation is preferred, it could be translated as "polypropylene fiber/filament," but here it's kept in its original form given the context. 。

Table 2: Summary of Polypropylene Related Product Prices (Unit: RMB/ton)

Market	4 It is already in English. The translated content from Chinese "月1日" is "1st day of the month" or simply "March 1st" if specifying the month, but generally, it refers to the first day of any given month. Without additional context, the most accurate translation is "1st day of the month".	4 February 2nd	Rise and fall value	Price change percentage
Shandong propylene	6650	6725	75	1.13%
	2485	2450	-35	-1.41%
Linyi PP powder	7180	7210	30	0.42%

8 Data Calendar

Table 3 Overview of Domestic Polypropylene Data (Unit: Ten Thousand Tons)

	Release date	Last period's data	The current trend is projected to be	Unit
PP Total Inventory		85.86	↓	Ten thousand tons
PP Enterprise production capacity utilization rate	Thursday 4:30 PM	76.43%	↓	%
PP Weekly maintenance impact quantity	Thursday 4:30 PM	15.612	↓	Ten thousand tons
Total Production of Domestic PP Enterprises	Thursday at 4:30 PM	73.2	↓	10,000 tons
Profit of oil-based PP enterprises	Thursday at 4:30 PM	-426.21	↓	Yuan/ton
Coal-to-PP enterprise profit	Thursday 4:30 PM	896	↑	yuan/ton
PDH	Thursday at 4:30 PM	-858.14	↓	Yuan per ton
PP	Thursday 4:30 PM	-324.83	↑	yuan/ton
PP Export Profit	Thursday 4:30 PM	36.15	↑	USD/tonne
Data source: Longzhong Information 1 2 Consider narrow fluctuations, highlighting the data with a rise or fall within 0-3%.

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【PP Daily Review】Macro Boosts Support, Polypropylene Prices Slightly Rise

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