On March 25th, the average market price for polypropylene pellets was 7,370 yuan/ton, an increase of 4 yuan/ton from the previous working day, representing a growth of 0.05%. Today, the mainstream transaction price for polypropylene pellet raffia is between 7,500-7,600 yuan/ton. Domestic mainstream market prices have seen a slight increase. The US plans to strengthen sanctions against oil-producing countries such as Venezuela, increasing potential supply risks and leading to a rise in international oil prices, strengthening cost-side support. Downstream manufacturers have insufficient demand for new orders and a weaker willingness to replenish stocks. Merchants face greater pressure to sell, with slow inventory reduction. Cautious price cuts are increasing to boost sales.

North China Market: On March 25, the PP prices in Linyi market were slightly stronger, with the盘面 going up. Trade merchants raised their quotations for sales, while downstream buyers mainly engaged in essential purchases. The main price of the day for the drawn film was between 7,230-7,400 yuan per ton. Reference quotations: Daltong Daqing L5E89 (drawn film) was quoted at 7,230 yuan per ton; Ningxia Baofeng L5E89 (drawn film) was quoted at 7,250 yuan per ton (+50); Dushanzi Petrochemical TF1007 (film material) was quoted at 8,250 yuan per ton; Lanzhou Petrochemical RP340R (transparent material) was quoted at 8,500 yuan per ton; Dushanzi Petrochemical K9928H (high melt co-polymer) was quoted at 7,950 yuan per ton; Daqing Refining and Chemical PPB4228 (cold water pipe) was quoted at 8,000 yuan per ton.

Market prices in the East Market of Yanyu Petrochemical Market on March 25th were strong, due to unstable regional geographies and high oil prices. The trading reports were locked in the middle, and the main futures curve was slightly upward. As of the midday, the current prices in Yanyu Market were 7330-7440 yuan/ton. Reference prices: Tianhe Refining T30S have no price announcement, Hengxin Petrochemical L5E89 (rubber futures) prices were 7360 yuan/ton (+10), Ningxia Baofeng L5E89 (rubber futures) prices were 7360 yuan/ton, Shandong Taiplast 5090T (clear lubricant) prices were 8700 yuan/ton, East Huawei Energy S2025 no price announcement, Shandong Zhonghua Ning Coal 1102K (rubber futures) prices were 7370 yuan (+10), Shandong An Union T03 no price announcement, Zhejiang Zhonghua Petrochemical S1003 no price announcement.

Southern Market: On March 25th, the Xiamen PP spot price remained relatively strong with fluctuations, oil prices rising, cost support strengthened, futures prices oscillated upward, spot prices slightly increased, market transactions were moderate, only driven by just-in-time purchases, real deal negotiations. Reference quotations: Fujian Yunhe T30S (drawing) quoted at 7430 yuan/ton, Jiangsu Petrochemical S1003 no quotation available, Fujian Yunhe 1100N (high-density polyethylene) quoted at 7400 yuan/ton, Zhonghua Quanzhou L5E89 (drawing) quoted at 7430 yuan/ton (+10), Guangdong Petrochemical L5E89 quoted at 7400 yuan/ton, Zhongjing Petrochemical V30G (high-density polyethylene) quoted at 7400 yuan/ton (+20), Fusun Petrochemical FC709 no quotation available, Hainan Refinery PPH-T03 no quotation available, Sichuan Yingshan S0240 no quotation available, Zhongjing Petrochemical T30S (drawing) quoted at 7370 yuan/ton (+20), Guangzhou Petrochemical 990 no quotation available.

Market Forecast: U.S. President Trump announced a 25% tariff on countries purchasing oil or natural gas from Venezuela, raising concerns about tightening supply. International crude oil prices continued to rise at closing, strengthening support from the cost side. The futures market saw a slight rebound, and the spot market followed with an upward adjustment. However, downstream demand has not shown any significant improvement, maintaining a cautious trading atmosphere with only essential purchases. It is expected that in the next working day, the polypropylene market will experience fluctuations and adjustments, with price volatility ranging from 0 to 30 yuan/ton.