The South China PP price index is at 7672.44 points, down 12 points from last week, a decrease of 0.16%, with drawing down by 30, fiber up by 20, copolymer up by 10, thin wall down by 10, and homopolymer down by 30.

The South China PE price index is at 8538.83 points, up 5.98 points from last week, a decrease of 0.07%, with linear up by 20, low pressure down by 10, and high pressure remaining unchanged.

Polyolefin inventories remain high, putting pressure on spot prices to decline.

With the convening of the Two Sessions, the market's attention to policies has begun to increase, but there are generally no strong expectations. The Political Bureau meeting at the end of last year indicated that this year's macroeconomic policies will be relatively loose, with supportive policy measures typically including fiscal policies such as replacing old with new, and monetary policies such as lowering reserve requirement ratios and interest rates. However, under the impact of Trump's tariffs and the continued weakness in the domestic real estate market, it is difficult to see a significant increase in downstream demand.

The market does not have strong expectations for positive developments on the macro front, and in the short term, it is more constrained by the influences of costs and supply and demand. The overall polyolefin futures maintain a state of contention between high supply and the peak season for agricultural film consumption. Additionally, the continuous weakening of oil and coal prices on the cost side has led to a downward bias in market sentiment.

It is expected that next week, the South China PP price index will be 7600-7700, and the PE price index will be 8450-8600.