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[pp daily review] market sentiment cautious, polypropylene prices fluctuate

Longzhong 2025-08-06 17:37:57

1 Today's Summary

①、 Sinopec Central China PP partial adjustments: Changling MN70 increased by 50 to 7350; Sino-Korean K8009 decreased by 50 to 7250; Changling F03G and Jingmen F03D decreased by 50 to 7200 and 7250, respectively.

②、 The domestic polypropylene shutdown impact today decreased compared to yesterday. 1.50% To 15.15% "The daily production proportion of wire drawing increased compared to yesterday." 0.10% In 29.67% % The daily production proportion of low-melting copolymer remains unchanged compared to yesterday. 5.10% 。

③、（ 20250725-0731 In this period, the supply-demand balance remains in a state where supply exceeds demand, with the supply-demand gap maintaining a positive value and slightly widening. This has a somewhat negative impact on market sentiment. In the next period, the surplus in the supply-demand balance is expected to significantly widen, likely exacerbating the negative impact on prices. 。

2 Spot Overview

Table 1 Domestic Polypropylene Price Summary (Unit: RMB/ton)

Data Source:Longzhong Information

Based on the East China region, today's polypropylene wire drawing closed at 7,069 RMB/ton, an increase of 13 RMB/ton from yesterday. The national average price for wire drawing is 7,099 RMB/ton, an increase of 3 RMB/ton from yesterday, in line with the morning forecast. 。

Today, futures are experiencing strong fluctuations, and spot market prices are mixed. Macro-level positive factors are boosting the market; however, terminal follow-up is slow. Trade offers are being adjusted within a narrow range, with overall volatility being limited. As of the midday close, the mainstream price for East China wire drawing is at... 7020-7200 Yuan / Ton 。

Figure 1: Domestic Polypropylene Price Trend (Unit: Yuan/Ton)	Figure 2 Domestic Polypropylene Prices Chart by Region (Unit: Yuan/Ton)

Data Source: Longzhong Information	Data Source: Longzhong Information

3 Futures-spot basis

From the basis perspective, today the basis of polypropylene in the East China region is -15 Yuan / ton, decreased compared to yesterday 5 Yuan / Ton; basis in North China is -2 Yuan / Ton, decreased compared to yesterday 7 Yuan / Ton.

Figure 3 Basis Trend in North China (Unit: Yuan/Ton)	Figure 4 Basis Trend in East China (unit: yuan/ton)

Data Source: Longzhong Information	Data source: Longzhong Information

4 Production Dynamics

Polypropylene Capacity Utilization Rate 78.22% Compared to yesterday, an increase of 0.56% The profit from oil processing increased compared to yesterday. 58.4 Yuan / Ton in -248.35 Yuan / Ton.

Figure 5: Domestic Polypropylene Capacity Utilization Rate Trend Chart	Figure 6 Domestic Polypropylene Profit Price Trend Chart (Unit: Yuan/Ton)

Data source: Longzhong Information	Data Source: Longzhong Information

5 Market sentiment

The macro favorable policies have limited boosting effect on the market, as the weak terminal demand has significantly dragged down the circulation of raw materials. There is no improvement yet in downstream orders, and market sentiment remains cautious. 。

6 Price prediction

From the supply side, the maintenance loss continues to remain high, which to some extent offsets the pressure from the increased supply due to the release of new production capacity. However, the market demand remains weak and has not fundamentally improved. The recovery of demand still requires time for verification, and the contradiction in the supply-demand fundamentals still exists. In the short term, there is insufficient momentum for polypropylene prices to rise, and prices are expected to remain at tomorrow. 7020-7200 Yuan / Ton range oscillation.

7 ==related product information

Table 2 Summary of Prices of Polypropylene Related Products (Unit: Yuan/Ton)

Market	8 May 5th	8 6th of the month	Change in value	Percentage Change
Shandong Propylene	6175	6260	+85	1.38%
Shandong Methanol	2350	2365	+15	0.64%
Linyi PP powder	6850	6850	0	0.00%

8 Data Calendar

Table 3 Overview of Domestic Polypropylene Data (Unit: 10,000 tons)

Data Project	Publication Date	Previous Data	The trend for this period is expected	Unit
Total PP Inventory	Wednesday 4:30 PM	80.05	↓	10,000 tons
PP manufacturing enterprise capacity utilization rate	Thursday 4:30 PM	76.94%	↓	%
PP weekly maintenance impact==	Thursday 4:30 PM	16.09	↓	10,000 tons
Total Production of Domestic PP Enterprises	Thursday 4:30 PM	77.33	↓	10,000 tons
Oil-based PP enterprise profit	Thursday 4:30 PM	-668.38	↓	CNY/ton
Coal-to-PP Enterprise Profit	Thursday 4:30 PM	612.6	↓	CNY/ton
PDH-based PP enterprise profit	Thursday 4:30 PM	-203.31	↑	CNY/ton
PP Import Profit	Thursday 4:30 PM	-479.78	↑	CNY/ton
PP Export Profit	Thursday 4:30 PM	-13.28	↓	USD/ton
1. Large fluctuations are indicated by ↓↑, highlighting data dimensions with a change exceeding 3%. 2. ↗↘ are considered as narrow fluctuations, highlighting data with a range of increase or decrease within 0-3%.

Data Source: Longzhong Information

Note:

1. Consider ↓↑ as significant fluctuations, highlighting data dimensions with changes exceeding 3%.

2. ↗↘ are regarded as narrow fluctuations, highlighting data with a change range within 0-3%.

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[pp daily review] market sentiment cautious, polypropylene prices fluctuate

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