Weak Fundamentals Persist, Polyolefin Spot Price Index Accelerates Decline

PP Price Index7038.71 points.Down compared to last week.78.87Point, drop1.12 %, among which wire drawing 80Fiber 100Coagulation decline.50Thin wall fall70Aggregation 80。

PE price refers to7,776.66 pointsCompared to last week 113.62 1.44 %, in which linear 120Low pressure 150High pressure 100。

The macroeconomic disturbances to the market are currently not obvious, and the focus in the short term is more on fundamental trading. The spot prices of polyolefins continue to weaken, and the downward trend of the index is accelerating.

On the macro level, the overall situation is stable and improving. Internationally, the Federal Reserve has cut interest rates, and there have been phone calls between the leaders of China and the United States. Domestically,The national elimination plan is still lagging behind expectations, and the substantial exit of outdated private production capacity has not yet been launched on a large scale.However, anti-involution actions still occasionally cause disturbances in the market.

The weak pattern of fundamentals Short-term recovery.。On the supply side, petrochemical maintenance has significantly increased, resulting in a slowdown in production growth this month.Although there are signs of marginal improvement on the demand side, with downstream enterprises gradually resuming operations and procurement activities increasing, the demand intensity is still significantly lower than during the traditional peak season. Currently, downstream factories are mainly focused on consuming existing finished product inventories, and procurement activities are primarily driven by rigid demand.

Outlook for the future market: macro and fundamentalsContinuous improvement The pressure of supply and demand still exists.Continue to follow the anti-involution developments.Downstream demand follow-up during peak season....as well as changes in crude oil and coal. It is expected that next week, South China...PP Price Index 7000-7200, PE Price Index 7700-7800。