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[PP Morning Insight] Polypropylene (PP) Market Expected to Trade in a Range Today

Longzhong 2025-08-08 09:12:20

I. Points of Attention

1 The bearish sentiment from OPEC+ production increases continues, and the U.S. sanctions plan has yet to trigger significant concerns, resulting in six consecutive declines in international oil prices. NYMEX crude oil futures September contract closed at $63.88 per barrel, down $0.47, a decrease of 0.73% from the previous session; ICE Brent crude oil futures October contract closed at $66.43 per barrel, down $0.46, a decrease of 0.69% from the previous session. China's INE crude oil futures main contract 2510 rose by 0.4 to 499.9 yuan per barrel, but fell by 6.1 to 493.8 yuan per barrel in the night session.

2 Propylene FOB Korea rises 5 to 740 dollars. / ton CFR China rises 5 points 775 US Dollar / ton.

3 The average polypropylene capacity utilization rate for this period is 77.31%, an increase of 0.37% compared to the previous period; Sinopec's capacity utilization rate is 79.57%, a decrease of 0.16% compared to the previous period.

4 This week, the domestic polypropylene output was 777,100 tons, an increase of 3,800 tons (0.49%) compared to last week's 773,300 tons. Compared to the same period last year (662,800 tons), it increased by 114,300 tons, a rise of 17.25%.

Core logic: The downstream market participation is weak, and sluggish demand follow-up is putting pressure on PP prices. 。

2. Price List

Product	Category	8 6th of the month	8 July 7	Price Change Percentage	Unit
Crude oil	NYMEX	64.35	63.88	-0.47	USD/barrel
Crude oil	ICE Cloth oil	66.89	76.43	-0.46	USD/barrel
Propylene	Domestic propylene	6260	6275	+15	Yuan/ton
Methanol	Domestic Methanol	2365	2365	0	Yuan/ton
PP Main futures contract	Closing price	7078	7075	-3	Yuan/ton
Mainstream Price of Wire Drawing	Zibo	7082	7080	-2	CNY/ton
	Ningbo	7069	7067	-2	Yuan/ton
	Guangzhou	7214	7201	-13	Yuan/ton
Related Products	PP Powder	6850	6870	+20	Yuan/ton
Related Products	PE	7484	7505	-2	Yuan/ton
Note:
1 The above prices in RMB are all telegraphic transfer prices including tax.
2 The prices for the two periods are the point prices from the previous two work weeks before this week, not the weekly average prices.
3 The increase and decrease range refers to the month-on-month rate of change.

3. Market Outlook

OPEC+ The bearish atmosphere of increased production continues, with international oil prices falling for six consecutive sessions, weakening support from the cost side. On the supply side, production companies are still densely conducting equipment maintenance, but due to the impact of new capacity, supply pressure remains. Downstream factories have limited follow-up on new orders, showing weak market participation enthusiasm. The sluggish demand follow-up is putting pressure on PP prices, and it is expected that the polypropylene market today may...Range oscillation.

4. Data Calendar

Data Project	Release Date	Previous data	This period's trend is expected	Unit
PP Total Inventory	Wednesday 4:30 PM	85.66	↑	Ten thousand tons
PP Capacity Utilization Rate of Manufacturing Enterprises	Thursday 4:30 PM	77.31%	↑	%
PP Weekly Maintenance Impact Factors	Thursday 4:30 PM	15.86	↓	Ten thousand tons
Total Domestic PP Production	Thursday 4:30 PM	77.71	↑	Ten thousand tons
Profit of Oil-based PP Enterprises	Thursday 4:30 PM	-191.91	↑	CNY/ton
Profit of coal-based PP enterprises	Thursday 4:30 PM	479.87	↓	CNY/ton
PDH PP Manufacturing Enterprise Profit	Thursday 4:30 PM	-385.52	↓	Yuan/ton
PP Import Profit	Thursday 4:30 PM	-521.97	↓	CNY/ton
PP Export Profit	Thursday 4:30 PM	-13.62	↓	USD/ton
1 Regard "↓↑" as significant fluctuations, highlighting data dimensions with a change exceeding 3%. 2 "Considered as narrow fluctuations, highlighting data with a rise and fall range within 0-3%."

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[PP Morning Insight] Polypropylene (PP) Market Expected to Trade in a Range Today

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