In the chilly spring of March, with fluctuating temperatures, the PP powder market is as unpredictable as the weather, finding it difficult to recover overall. Recently, bearish factors have been piling up, pushing the market into a downward trend again...
I. PP Futures in Weak Oscillation
Entering March, the performance of PP futures has not been good, with the main contract trading within the range of 7300-7400 yuan/ton. On March 3, PP2505 futures showed a narrow and slightly strong oscillation, closing at 7387 yuan/ton in the afternoon; during the night session, PP2505 opened higher but oscillated weakly, finally closing at 7376 yuan/ton. By March 4, the overall market news was bearish, leading to a weak oscillation in PP futures. The day's opening price was 7387 yuan/ton, reaching a high of 7393 yuan/ton and a low of 7342 yuan/ton, closing at 7343 yuan/ton in the afternoon. Recently, the overall trend of PP futures has been weak, providing poor guidance for the spot market, which to some extent undermines the confidence of buyers.
II. Propylene Monomer Trend Not Strong
Entering March, the trend of propylene monomer remains unsatisfactory, with market prices struggling to move either way, maintaining an overall consolidation pattern. Recently, producers have shown a strong intention to stabilize prices for sales, while downstream demand purchases only when prices are low. Overall, the supply and demand dynamics in the market are average, with no significant changes in the pace of industry shipments. The market finds it difficult to rise or fall, and prices generally remain stable. As of the close on March 4, the mainstream transaction price in the Shandong market was maintained at 6720-6820 yuan/ton, and the Sinopec contract price in the East China market also remained steady at 6900-6950 yuan/ton.
III. PP Powder Supply and Demand Under Pressure
In the chilly March, with a mix of warmth and cold, the PP powder market is as unpredictable as the weather, making it hard to see an overall recovery. Recently, bearish factors have been piling up, leading to another decline in prices...
I. PP Futures Weaken and Fluctuate
Entering March, the performance of PP futures has not been good, with the main contract fluctuating within the range of 7,300-7,400 yuan/ton. Specifically, on March 3rd, the PP2505 futures showed a narrow and slightly strong fluctuation, closing at 7,387 yuan/ton in the afternoon; during the night, PP2505 opened higher but weakened, finally closing at 7,376 yuan/ton. By March 4th, the overall market sentiment was bearish, with PP futures weakening and fluctuating. The day session opened at 7,387 yuan/ton, reached a high of 7,393 yuan/ton, and a low of 7,342 yuan/ton, closing at 7,343 yuan/ton in the afternoon. Recently, the overall trend of PP futures has been weak, providing poor guidance for the spot market, which to some extent undermines the confidence of buyers.
II. Propylene Monomer Trend Not Strong
Entering March, the trend of propylene monomer remains unsatisfactory, with market prices stuck in a difficult situation, maintaining an overall consolidation pattern. Recently, producers have shown a strong intention to stabilize prices and sell, while downstream buyers purchase based on necessity when prices are low. The overall supply and demand situation is average, with no significant changes in the pace of sales. The market finds it hard to move either up or down, and prices remain in a consolidation phase. As of the close on March 4th, the mainstream transaction price in the Shandong market was maintained at 6,720-6,820 yuan/ton, and the Sinopec contract price in the East China market also remained stable at 6,900-6,950 yuan/ton.
III. PP Powder Supply and Demand Under Pressure
In the chilly March, with temperatures fluctuating between cold and warm, the PP powder market is just like the weather, making it hard to see an overall recovery. Recently, there has been a pile-up of bearish factors, pushing the market into a downward trend again…
I. PP Futures Show Weak Oscillation
Entering March, the performance of PP futures has not been good, with the main contract trading within the range of 7,300-7,400 yuan/ton. On March 3rd, the PP2505 futures showed a narrow but slightly strong oscillation, closing at 7,387 yuan/ton in the afternoon; at night, the PP2505 opened higher but showed weak oscillation, finally closing at 7,376 yuan/ton. By March 4th, the overall market news was bearish, causing the PP futures to show weak oscillation. The day session opened at 7,387 yuan/ton, reached a high of 7,393 yuan/ton, and a low of 7,342 yuan/ton, closing at 7,343 yuan/ton in the afternoon. Recently, the overall trend of PP futures has been weak, providing poor guidance for the spot market, which to some extent negatively impacts the confidence of buyers.
II. Propylene Monomer Shows Weak Trend
Entering March, the trend of propylene monomer remains unsatisfactory, with market prices finding it difficult to move up or down, generally maintaining a consolidative pattern. Recently, producers have shown a strong intention to stabilize prices for sales, while downstream buyers are purchasing on demand at lower prices. Overall, the supply and demand situation is average, with no significant changes in the industry's sales pace, leading to a situation where the market finds it difficult to rise or fall, with prices tending to consolidate. As of the close on March 4th, the mainstream transaction price in the Shandong market remained at 6,720-6,820 yuan/ton, and the Sinopec contract price in the East China market also stabilized at 6,900-6,950 yuan/ton.
III. PP Powder Supply and Demand Under Pressure
In the chilly early spring of March, with unpredictable weather, the PP powder market is similarly struggling to recover. Recently, bearish pressures have piled up, pushing the market back into a downward trend...
I. PP Futures Show Weak Fluctuations
Entering March, the performance of PP futures has been poor, with the main contract fluctuating within the range of 7,300-7,400 yuan/ton. On March 3rd, the PP2505 futures showed a narrow and slightly strong fluctuation, closing at 7,387 yuan/ton in the afternoon; during the night, PP2505 opened higher but showed weak fluctuations, finally closing at 7,376 yuan/ton. By March 4th, overall market news was bearish, leading to weak fluctuations in PP futures. The day started at 7,387 yuan/ton, reached a high of 7,393 yuan/ton, and a low of 7,342 yuan/ton, closing in the afternoon at 7,343 yuan/ton. Recently, the overall trend of PP futures has been weak, providing inadequate guidance for the spot market, which to some extent negatively impacts the confidence of buyers.
II. Propylene Monomer Trend Remains Weak
Entering March, the trend of propylene monomer remains unsatisfactory, with market prices finding it difficult to move either way, generally maintaining a consolidation pattern. Recently, production enterprises have shown a strong intention to maintain stable prices for sales, while downstream buyers are making just-in-time purchases at lower prices. Overall, the supply and demand in the market are mediocre, with no significant changes in the pace of sales. As a result, the market finds it hard to rise or fall, and the overall price tends to consolidate. As of the close on March 4th, the mainstream transaction price in the Shandong market remained at 6,720-6,820 yuan/ton, and the Sinopec contract price in the East China market also stabilized at 6,900-6,950 yuan/ton.
III. PP Powder Supply and Demand Under Pressure
Data
Introduction:
Introduction:
In the chilly early spring of March, with alternating warm and cold spells, the PP powder market is just like the weather, finding it hard to fully recover. Recently, with bearish sentiments piling up, it has once again entered a downward trend...
In the chilly early spring of March, with alternating warm and cold spells, the PP powder market is just like the weather, finding it hard to fully recover. Recently, with bearish sentiments piling up, it has once again entered a downward trend...
I. PP Futures in Weak Oscillation
I. PP Futures in Weak Oscillation
Entering March, the performance of PP futures has been poor, with the main contract trading within the range of 7300-7400 yuan/ton. Specifically, on March 3rd, the PP2505 futures showed a narrow and slightly strong oscillation, closing at 7387 yuan/ton in the afternoon; during the night, PP2505 opened higher but oscillated weakly, finally closing at 7376 yuan/ton. By March 4th, the overall market news was bearish, with PP futures showing a weak oscillation. The day session opened at 7387 yuan/ton, reaching a high of 7393 yuan/ton and a low of 7342 yuan/ton, closing at 7343 yuan/ton in the afternoon. Recently, the overall trend of PP futures has been weak, providing poor guidance for the spot market, which to some extent dampens the confidence of buyers. Entering March, the performance of PP futures has been poor, with the main contract trading within the range of 7300-7400 yuan/ton. Specifically, on March 3rd, the PP2505 futures showed a narrow and slightly strong oscillation, closing at 7387 yuan/ton in the afternoon; during the night, PP2505 opened higher but oscillated weakly, finally closing at 7376 yuan/ton. By March 4th, the overall market news was bearish, with PP futures showing a weak oscillation. The day session opened at 7387 yuan/ton, reaching a high of 7393 yuan/ton and a low of 7342 yuan/ton, closing at 7343 yuan/ton in the afternoon. Recently, the overall trend of PP futures has been weak, providing poor guidance for the spot market, which to some extent dampens the confidence of buyers.
II. Propylene Monomer Shows Weak Trend
II. Propylene Monomer Shows Weak Trend
Entering March, the propylene monomer market remains unsatisfactory, with prices struggling to move in either direction, maintaining an overall consolidation pattern. Recently, producers have shown a strong intention to maintain stable prices and sell, while downstream buyers are purchasing based on need when prices are low. Overall, the supply and demand situation is average, with no significant changes in the industry's sales pace. The market is caught between rising and falling, leading to a generally stable price. As of the close on March 4th, the mainstream transaction price in the Shandong market remained at 6720-6820 yuan/ton, and the Sinopec contract price in the East China market also stabilized at 6900-6950 yuan/ton. Entering March, the propylene monomer market remains unsatisfactory, with prices struggling to move in either direction, maintaining an overall consolidation pattern. Recently, producers have shown a strong intention to maintain stable prices and sell, while downstream buyers are purchasing based on need when prices are low. Overall, the supply and demand situation is average, with no significant changes in the industry's sales pace. The market is caught between rising and falling, leading to a generally stable price. As of the close on March 4th, the mainstream transaction price in the Shandong market remained at 6720-6820 yuan/ton, and the Sinopec contract price in the East China market also stabilized at 6900-6950 yuan/ton.
III. PP Powder Supply and Demand Under Pressure
III. PP Powder Supply and Demand Under Pressure
Data source: JLC
Data source: JLC
Recently, there have been many changes in the operation of PP powder. Maoming Shihua and Nanjing Refining both began maintenance shutdowns on March 3, further reducing supply in the East China and South China markets; however, two powder production lines at Shandong Huifeng (Zibo Haiyi) resumed normal operations by the end of February, and Dongfang Hongye started converting granule production lines to powder from March 2. Additionally, most enterprises that resumed production in late February have already returned to normal output this month, leading to an increase in supply in the northern market. The trend of goods flow is mostly from north to south. Furthermore, after the mutual offset of increased and decreased supplies at the beginning of March, the operating level of the PP powder industry has shown a slight upward trend, with the overall operation rate now around 40%.
Recently, there have been many changes in the operation of PP powder. Maoming Shihua and Nanjing Refining both began maintenance shutdowns on March 3, further reducing supply in the East China and South China markets; however, two powder production lines at Shandong Huifeng (Zibo Haiyi) resumed normal operations by the end of February, and Dongfang Hongye started converting granule production lines to powder from March 2. Additionally, most enterprises that resumed production in late February have already returned to normal output this month, leading to an increase in supply in the northern market. The trend of goods flow is mostly from north to south. Furthermore, after the mutual offset of increased and decreased supplies at the beginning of March, the operating level of the PP powder industry has shown a slight upward trend, with the overall operation rate now around 40%.
However, recently, overall downstream demand remains lukewarm. Under the situation of oversupply by powder companies, the support for the market from downstream buyers purchasing at low prices is weak, new orders are limited, and the overall shipping progress is slow, leaving merchants somewhat lacking in confidence.
However, recently, overall downstream demand remains lukewarm. Under the situation of oversupply by powder companies, the support for the market from downstream buyers purchasing at low prices is weak, new orders are limited, and the overall shipping progress is slow, leaving merchants somewhat lacking in confidence.
IV. PP Powder Weakness Continues
IV. PP Powder Weakness Continues
Data Source: Jinlianchuang
Data Source: Jinlianchuang
In March, the weather is still chilly despite occasional warmth, and northern regions have recently experienced snowfall. The PP powder market is similarly struggling to recover. As we entered March, PP futures showed a weak fluctuation, providing little guidance for the spot market. Additionally, the upstream propylene remains in a consolidation phase, not offering strong cost support to the powder. With increasing supply and demand pressures in the industry, the sentiment among powder manufacturers is pessimistic, leading to a decline in market quotations. By the close of March 4, the mainstream price range for PP powder in the Shandong and North China region was 7160-7210 yuan/ton, while in the East China market, it was 7380-7450 yuan/ton. Only the South China market remained firm due to maintenance benefits.In March, the weather is still chilly despite occasional warmth, and northern regions have recently experienced snowfall. The PP powder market is similarly struggling to recover. As we entered March, PP futures showed a weak fluctuation, providing little guidance for the spot market. Additionally, the upstream propylene remains in a consolidation phase, not offering strong cost support to the powder. With increasing supply and demand pressures in the industry, the sentiment among powder manufacturers is pessimistic, leading to a decline in market quotations. By the close of March 4, the mainstream price range for PP powder in the Shandong and North China region was 7160-7210 yuan/ton, while in the East China market, it was 7380-7450 yuan/ton. Only the South China market remained firm due to maintenance benefits.
5. Market Outlook for the First Half of the Month
5. Market Outlook for the First Half of the MonthIn the first ten days of the month, there is still no expectation for significant fluctuations in propylene monomer prices, and the cost disturbances for powder materials may remain relatively small; from a supply perspective, the recent supply of PP powder in the northern region remains relatively abundant, while supplies in East China and South China are slightly tight due to more maintenance, which might lead to an increased southward flow of some northern sources; regarding demand, with the weather warming up further, there is a positive expectation for the demand for powder materials from the agricultural, construction, and packaging industries, and orders for PP powder may see a slight increase, but overall it may still be difficult to significantly expand; additionally, the current price difference for powder materials is narrow, and sales of powder materials are still constrained by granular materials, but the pace of new capacity releases for granular materials in March and April is slow, so the overall pressure is not expected to rise significantly. In summary, the market in the short term is characterized by a tug-of-war between bullish and bearish forces, and the PP powder market may continue to consolidate within a narrow range, focusing on shipping, with limited room for upward or downward movement.
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