[pp weekly outlook] expected market to remain weak and downward today

I. Points of Attention

1 、 10/10: The easing of the Israel-Palestine situation, combined with potential new risks from U.S. tariff issues, has led to a decline in international oil prices. NYMEX crude oil futures for the November contract fell by $2.61 per barrel to $58.90, a decrease of 4.24% compared to the previous period. ICE Brent crude futures for the December contract fell by $2.49 per barrel to $62.73, a decrease of 3.82% compared to the previous period. China's INE crude oil futures for the 2511 contract fell by 2.5 to 466.2 yuan per barrel, with a night session drop of 21.2 to 445 yuan per barrel. 。

2 Propylene FOB Korea at 750 USD/ton, CFR China at 780 USD/ton.

3 、 This week (20251003-1009), the average operating rate of the downstream polypropylene industry in China increased by 0.05 percentage points to 51.76%.

Core logic: Slow accumulation and consumption of inventory after the holiday, expected easing on the cost side, and increasing international trade barriers.

2. Price List

3. Data Form

Section 4: Market Outlook

The market continued to decline after the holiday due to weak supply and demand and the accumulation of post-holiday inventory. At the same time, signs of international trade barriers have re-emerged, intensifying market caution. Although domestic demand is slowly rising, it is not sufficient to support the strong PP production capacity system. In the short term, inventory reduction has clearly become a top priority, and risk aversion sentiments in the industry chain have surged. In the short term, apart from the supply and demand constraints on the market, there is also insufficient macroeconomic support, so it is expected that today's market will continue to show a weak downward trend. In East China, raffia is priced around 6600-6750 yuan/ton.

Five, Data Calendar