[Recycled PE/PP Morning Update] Market Expected to Trend Steadily With Slight Weakness

I. Points of Attention

1、 On September 9, Israel attacked Hamas leaders inside Qatar, increasing potential supply risks caused by the Israel-Palestine conflict, leading to a rise in international oil prices.

2、 Polyethylene: The polyethylene market has seen price adjustments, with linear transaction prices at 7,130-7,650 yuan/ton. It is understood that although cost support has strengthened, there is a lack of sustained upward momentum. The market remains cautious, with prices fluctuating. In North China, East China, and South China LLDPE markets, prices have been slightly adjusted by 10-30 yuan/ton. It is expected that polyethylene prices will remain range-bound in the afternoon.

Polypropylene: Futures opened low and fluctuated. Today, the polypropylene market is mainly in a range-bound consolidation. The demand side is slowly recovering, with end-user purchasing enthusiasm being average. Traders are adjusting their offers at lower levels, with slight concessions on actual transactions. Coupled with the supply pressure brought by the commissioning of new upstream facilities, prices are struggling to rise. As of midday, the mainstream price for East China raffia is between 6,750-6,950 yuan/ton.

2.Price List

Unit: yuan/ton

3. Market Outlook

The recycled plastics market is showing a weak range-bound trend. Inquiries and trading activity within the market have somewhat improved. Recycled material companies are actively supplying orders to meet customer demand, while downstream plastic product manufacturers are purchasing with price resistance due to rigid demand. Virgin material prices remain stable, but new material prices continue to weaken, dragging down the performance of new order transactions for recycled material companies. Market transaction prices have slightly declined. Recycled material companies are actively producing and supplying, and the market is expected to maintain a stable to slightly weakening trend.