Polypropylene PP: Spot prices have risen slightly, and traders are trying to raise their quotations(December 24, 2024)

Domestic petrochemical inventory: The inventory of polyolefins from the two oils is 610,000 tons, down 40,000 tons from yesterday.

PP futures analysis: On December 24, PP2505 opened at 7406, the highest price was 7434, the lowest price was 7403, the position was 494008, the settlement price was 7419, yesterday's settlement was 7380, an increase of 39, daily trading volume was 239731 lots, the deposited funds were 2.569 billion, and the capital outflow was 67.92 million.

Mainstream quotes for wire drawing in the PP market:

Analysis of the domestic spot market of PP: Today, the overall domestic PP market has risen slightly. Except for the stable market prices in South China, the prices in other markets have risen, ranging from 0 to 30 yuan/ton. In terms of price: the mainstream price of domestic polypropylene ranges from 7370 to 7790 yuan/ton. International oil prices are falling due to concerns about crude oil demand and Trump's promise to lift energy restrictions. The cost support of the PP market is generally average. In addition, petrochemical companies have completed their annual maintenance plans one after another, and with the increase in the number of PP units that were restarted after previous fault maintenance, the impact of domestic PP shutdowns has fallen from a high level. In addition, terminal demand is weak, and purchases are mainly based on rigid demand. However, as the end of the month approaches, traders' sales pressure has eased, and quotations have been tentatively raised, and the trading atmosphere in the market is still acceptable.

PP spot trend forecast: In terms of raw materials, Huitong Finance said that crude oil prices may still be affected by the following factors: First, changes in US economic data, inflation and employment market trends will continue to affect the Federal Reserve's monetary policy decisions, and thus indirectly affect crude oil prices; secondly, the growth potential of the global economy, especially the recovery in demand, is still a key factor in determining whether oil prices can continue to rise. In terms of supply, as some PP units that were previously shut down have resumed production, the impact of shutdowns and maintenance on PP units may continue to decrease. In addition, expectations for new production have also been realized one after another, so supply pressure in the market may increase. In terms of demand, it is expected that most downstream industries will gradually enter the off-season for orders, and the risk aversion of enterprises will increase at the end of the year, which may to some extent suppress the purchase of raw material PP. Overall, it is expected that the polypropylene market may fluctuate and weaken in the short term.

Domestic PP Index: According to Tuduoduo data, the domestic PP spot index was 7525.83 on December 24, up 10, a range of 0.13%.