1Today's Summary

①, Crude Oil:On March 31, the United States indicated that it does not rule out the option of taking military action against Iran, raising market concerns about potential supply risks and driving up international oil prices.

PP CityVenueBy midday, the mainstream prices for East China drawing were between 7,300 and 7,440 yuan per ton.

2Spot Overview

Table 1: Summary of Domestic Recycled PP Prices (Unit: RMB/ton)

Based on the Shandong region, the price of premium grade one white transparent granules closed at 5,850 yuan/ton today, with the market trend remaining stable, in line with the morning's expectations.The market trading atmosphere is generally subdued, with limited downstream demand. Purchases are mainly based on immediate needs, and there is a limited increase in orders in the market. Recycling companies primarily supply orders from old customers, and actual transactions focus on negotiation.

3Production Dynamics

This week, The upstream raw material supply remains at a high level, with the cost side continuously providing support. However, downstream demand is limited, and the shipment of recycled materials is sluggish. Recycled material manufacturers are under pressure, and the market is operating cautiously, mainly fulfilling orders from existing customers and flexibly adjusting production schedules.

4price prediction

The market price trend of recycled PP is stable, the purchasing and sales atmosphere in the market is average, and recycled enterprises are observing with stable quotations.There are no obvious positive indicators in the short-term market, and the increase in new orders is slow.The price difference between new and old materials remains in a low range, limiting the motivation for recycling companies to ship products.The market trend is expected to continue in a consolidation phase in the short term, and it is recommended that companies make necessary purchases.

5Related product information

PPMarket:Today's futures market showed oscillating gains during the session, with morning quotes remaining mostly stable and some showing slight increases.Crude oil pricePrices are trending higher with increased support from cost factors. End-users are maintaining rigid demand for restocking, with no significant change in demand observed. Market activity remains subdued, and transactions are negotiated based on actual conditions. As of midday, the mainstream price for wire drawing in East China is between 7,300 and 7,440 yuan per ton.