Weak Market Sentiment: Polyolefin Spot Prices Continue to Decline
PP Price Index6824.65 points, 33.59Point, decline0.49%, among which drawing 40Fiber 50Co-gathering Thin wall fell.20Homopolymerization 30。
PE price refers to7,656.09 points Last week declined.26.91 0.66 %, among which linear 30Low pressure 30High pressure 20。
At the beginning of the week, spot prices saw a brief rebound due to the support from futures, but as futures retreated, spot prices experienced a correction. Overall, the current prices have decreased compared to the same period last week.
On the macro level, at the beginning of the week, U.S. Treasury Secretary Yellen stated that the U.S. will no longer consider increasing tariffs on China.A 100% tariff, but the market had already anticipated this, so overall this week saw a volatile decline. Currently, the market is focused on the Federal Reserve's interest rate cut early Thursday morning and the upcoming APEC summit, where the final details of the US-China tariff negotiations will be confirmed.
The new supply-side installations are gradually coming online, leading to an increase in supply. Although there are expectations of improved operations in downstream sectors and an increase in demand, overall, inventory pressure still exists.
Outlook for the Future: Macroeconomic and FundamentalsContinuous improvement The pressure of supply and demand still exists.。Currently, agricultural film is still in peak season, but under supply constraints, the market is focused on changes in policy and cost. Oil prices have a significant guiding effect on the short-term trend of polyolefin futures.It is expected that South China next weekPP Price Index6700-6900,PE Price Index7600-7800。
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