Recycled PE/PP Morning Update: Market Prices Expected to Fluctuate Within a Narrow Range

1. Focus Points

On September 2, the ongoing Russia-Ukraine conflict poses potential supply risks, coupled with the continuation of U.S. sanctions on certain oil-producing countries, leading to an increase in international oil prices.

2、 Polyethylene: The polyethylene market has seen price adjustments, with linear transaction prices ranging from 7,150 to 7,650 yuan/ton. It is understood that there has been a slight boost from news and cost factors, but there is insufficient momentum for continued increases. The market is mainly selling according to current conditions, with some price adjustments. There has been no significant increase in transaction volume. Prices in the North China market have dropped by 10 yuan/ton, East China by 10-30 yuan/ton, and the South China market remains stable. It is expected that polyethylene prices will mainly decline in the afternoon.

3. Polypropylene: Futures showed a fluctuating trend. In the morning, market quotes adjusted within a narrow range, fluctuating between -50 and +20 yuan/ton. Previously idled plants have gradually restarted, coupled with the pressure from new capacity expansions, resulting in an overall loose supply that suppresses prices. Although September marks the traditional peak season, actual demand has recovered slowly, and the market lacks strong driving factors for a clear one-sided trend. Market participants remain cautious. As of midday, mainstream prices for East China drawing grade polypropylene ranged between 6,830 and 7,000 yuan/ton.

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Unit: Yuan/ton

III. Market Outlook

There are currently no significant changes in the recycled plastics market. Downstream plastic product manufacturers are gradually making small-volume inquiries to meet immediate needs, while recycling enterprises are actively offering quotations and making small concessions to facilitate transactions. With the arrival of the peak consumption season of "Golden September and Silver October," downstream operating rates have seen a slight boost. However, the continued low prices of virgin materials have made it difficult for the prices of recycled products to rise. Intense supply-demand negotiations persist in the market, and prices are expected to fluctuate within a narrow range and remain stable.