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【Special Plastic Index】Supply and demand remain weak, and the spot price of polyolefins continues to operate weakly.

Special Plastics Research Society 2025-03-26 14:33:27

South ChinaThe PP price index is 7630.25 points, an increase of 6.24 points from last week, with a growth rate of 0.08%. Among the changes, wire rod increased by 10, fiber increased by 20, copolymer remained stable, thin-walled increased by 30, and homopolymer remained stable.

South ChinaThe PE price index is 8,340.99 points and 8,390.94 points, a decrease of 49.95 points compared to last week, with a decline of 0.60%. Among them, linear has fallen by 50 points, low pressure by 80 points, and high pressure by 40 points.

Supply and demand remain weak, and the spot price of polyolefins continues to operate at a weak level.

Recently, the market's attention to policies has not been very high, and measures such as降准降息 (cutting the reserve requirement ratio and interest rates) have been constrained by the Fed's hawkish policy in the short term. Nevertheless, the market still needs to pay attention to the implementation of domestic policies. On one hand, the central bank has mentioned multiple times that it will seize the opportunity to cut the reserve requirement ratio and interest rates. On the other hand, the Ministry of Finance is also planning proactive policies to boost domestic consumption.

Changes in the cost side provide some support to polyolefin prices in the short term, as both crude oil and propane prices have shown significant increases, supporting the rebound in polyolefin futures prices this week. However, the rebound is still relatively weak, with ongoing weakness in supply and demand being the main drag factor.

On the supply side, new production capacity is about to be put into operation, and the Exxon Huizhou plant may be put into production soon. On the demand side, the peak season for agricultural film has reached its high point, and it will soon enter the off-season, with a bleak outlook for continued inventory destocking.

It is expected that next week in South ChinaPP price index 7500-7700, PE price index 8300-8450.

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【Special Plastic Index】Supply and demand remain weak, and the spot price of polyolefins continues to operate weakly.

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