The second week of march domestic PP market is relatively weak, spot prices have been reduced. As of Monday, March 16, the mainstream offer price of domestic manufacturers and traders in T30S is around 7116.67 RMB/ton, which is 0.93% lower than the average price level on Monday, March 9.
Upstream: Affected by the recent OPEC meeting and the international market game, the international crude oil many times the news of the decline of propylene has a clear negative. Since March, the domestic market prices of propylene have volatility, and the recent trend is weak. The previous production and inventory of propylene are relatively low, so the early decline is not significant. However, crude oil is still volatile, and the downstream trend is not ideal. It is expected that the later propylene price may be affected by crude oil, a significant downward trend.
Products: The current domestic PP market quotation have weak collation, and the overall look - and - see atmosphere is still heavy. Petrochemical enterprises are under pressure to reduce the factory price, and the operator's offer was mixed. PP downstream factory return to work generally, but operating rate is not ideal, and the demand follow-up is weak. Business confidence is not strong as the lack of clear guidance on the news. Traders quote according to their own inventory situation. There is a general trading atmosphere while low-price offer has quite good deals.
Market Forecast: SunSirs PP analysts think that in the second week of march domestic PP spot market situation is generally weaker than the first week. Upstream propylene prices fell, and the cost of PP support is poor. The rework rate of downstream factories needs to be further improved. Demand side orders follow up is not timely, with small orders to deal mainly. Petrochemical plant inventory pressure is greater, and industry follow the market, watching the atmosphere thick. PP market is expected to be the recent shock adjustment.
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