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[pp daily review] no significant improvement in new orders downstream, polypropylene market in range-bound consolidation

Longzhong 2025-08-26 18:47:42

1 Today's Summary

①, Sinopec Central China adjusted prices for certain PP grades: Hunan Petrochemical raffia/raffia powder increased by 50; Jingmen low melt powder increased by 50; Sino-Korean K8009 increased by 50. Sinopec South China PP prices increased: Maoming T03 increased by 50 to 7,500, with a general increase of 50 for ternary products, where 4908 is 7,750, 8908 is 7,700, and 8003 increased by 50 to 7,450.

②、 Today, the domestic polypropylene shutdown impact volume fell by 0.2% to 12.94%. Today, the domestic PP units: Zhongyuan Petrochemical's second PP unit has been restarted. The daily production proportion of raffia increased by 0.77% to 29.26%.

③、 During the period from August 15 to August 21, 2025, the supply-demand balance continued to show a pattern of supply exceeding demand. Although the supply-demand gap remained positive, it significantly narrowed, somewhat alleviating the negative impact on market sentiment. In the next period, the supply-demand balance is expected to shift from surplus to tight balance, likely providing positive support for prices. 。

2 Spot Overview

Table 1: DomesticPolypropylene priceSummary Table (Unit: Yuan/Ton)

Market	8 Month 25th	8 26th day of the month	Change in value	Percentage Change
National	7037	7040	+3	0.04%
East China	7010	7010	0	0.00%
North China	7010	7011	+1	0.01%
South China	7115	7124	+9	0.13%
Central China	7011	7011	0	0.00%
Southwest	7108	7117	+9	0.13%
Northwest	6926	6934	+8	0.12%
Key downstream
BOPP	8100	8100	0	0.00%

Data source:Longzhong Information

Translate the above content into English and output the translation result without any explanation.Today, polypropylene raffia in the East China region closed at 7,010 RMB/ton, stable compared to yesterday, in line with morning expectations. Morning Futures prices rose slightly, with the morning market offering a mainstream fluctuation range of -20/+10 yuan/ton. As the end of the month approaches, spot market offers have not changed significantly. Intermediaries adjust their offers to sell based on current trends, with demand slowly recovering. However, the pressure on the supply side is increasing, leading to cautious market sentiment. As of midday, the mainstream price for East China raffia is between 6,920-7,080 yuan/ton. 。

Figure 1 Domestic Polypropylene Price Trend (Unit: Yuan/Ton)	Figure 2 Domestic Polypropylene Prices in Various Regions (Unit: Yuan/Ton)

Data Source: Longzhong Information	Data Source: Longzhong Information

3 ======== translates to "spread between spot and futures prices" in English.

BasisToday, the basis in the North China region is -61 yuan/ton, down 4 yuan/ton from yesterday; the polypropylene basis in the East China region is -62 yuan/ton, down 5 yuan/ton from yesterday. 。

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

Data Source: Longzhong Information	Data source: Longzhong Information

4 Production Dynamics

Polypropylene The capacity utilization rate increased from 80.46% to 80.91%, up by 0.45% compared to yesterday. The profit from oil production decreased by 38.97 yuan/ton compared to yesterday, reaching -394.23 yuan/ton. 。

Figure 5 Domestic Polypropylene Capacity Utilization 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 fundamental supply-demand contradiction still exists. On the demand side, the recovery of downstream operations is slow, and the operating rate has improved compared to the previous period. The spot trading atmosphere remains relatively quiet, with purchasing maintaining a low-price just-in-time approach, and market participants are cautious in their mindset.

6 Price Forecast

With the partial restart of previously repaired units, the impact of shutdowns has decreased to 12.94%. Coupled with the smooth commissioning and release of new production capacity, there is an expectation of increased supply pressure in the market, exerting pressure on the supply side. On the demand side, there has been no significant improvement in the follow-up of new orders from downstream industries, and downstream raw material procurement remains cautious. It is expected that the polypropylene market will... Continue the range consolidation.

7 ", Related Product Information"

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

Market	8 14th of the month	8 15th of the month	Change in value	Change in Price Percentage
Shandong Propylene	6455	6470	+15	0.23%
Shandong Methanol	2340	2340	0	0.00%
Linyi PP Powder	6870	6870	0	0.00%

8 Data Calendar

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

Data	Release date	Previous Data	The trend for this period is expected	Unit
PP Total inventory	Wednesday 4:30 PM	82.74	↓	Ten thousand tons
PP Capacity utilization of manufacturing enterprises	Thursday 4:30 PM	77.91%	↑	%
PP Weekly maintenance impact	Thursday 4:30 PM	15.50	↓	Ten thousand tons
Total production of domestic PP companies	Thursday 4:30 PM	78.31	↑	10,000 tons
Profit of Oil-based PP Enterprises	Thursday 4:30 PM	-96.70	↑	CNY/ton
Coal-based PP enterprise profit	Thursday 4:30 PM	414.13	↓	CNY/ton
PDH Manufacture PP Enterprise Profit	Thursday 4:30 PM	-395.58	↓	CNY/ton
PP Import Profit	Thursday 4:30 PM	-519.17	↑	CNY/ton
PP Export Profit	Thursday 4:30 PM	-12.06	↑	USD/ton
Data Source: Longzhong Information Note: 1 Consider large fluctuations as significant changes, highlighting data dimensions with a rise or fall exceeding 3%. 2 Viewed as narrow fluctuations, highlighting data with price changes within the range of 0-3%.

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[pp daily review] no significant improvement in new orders downstream, polypropylene market in range-bound consolidation

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