1. Focus Points

1. Crude Oil: 3/3: The market is concerned that the additional tariffs imposed by the U.S. will drag down the global economy and demand, and it is uncertain whether OPEC+ will delay its production increase plan, leading to a decline in international oil prices. NYMEX crude oil futures for April fell $1.39 to $68.37 per barrel, a decrease of -1.99% from the previous day; ICE Brent crude oil futures for May (after the contract roll) fell $1.19 to $71.62 per barrel, a decrease of -1.63%. China's INE crude oil futures main contract for 2504 fell 3.3 to 539.2 yuan per barrel, and in the night session, it fell 12.7 to 526.5 yuan per barrel.

2. Polypropylene: Futures were weakly fluctuating during the trading session, with no significant change in downstream demand, only maintaining essential purchases, and limited order increments. Traders operated according to the market trend, and the overall trading atmosphere was mild, with little change in spot prices. By midday, the mainstream price of drawing yarn in East China was between 7340-7450 yuan/ton.

3. BOPP: PP futures adjusted with fluctuations, and the spot market mainly remained stable. Most petrochemical ex-factory prices held steady, offering relatively stable cost support. Film manufacturers' ex-factory prices also mostly remained unchanged, and traders maintained stable sales, but the overall inquiry interest in the market was weak.

2. Market Outlook

The price trend of recycled PP continues to be stable. The market buying interest is mild, with a tight supply of raw materials upstream. High costs do not provide much support to the market. Recycled material enterprises are holding firm on their stable quotations. Downstream buyers are cautious, maintaining essential purchases of raw materials. Recycled material enterprises are flexibly scheduling production, primarily fulfilling orders for regular customers. It is expected that today's market may mainly stabilize, and it is recommended to closely monitor changes in upstream supply and downstream demand.