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How will the future of the PP market change with favorable costs and supply
Recently, the positive cost side has supported the PP market price. Starting from the end of March (March 27th), international crude oil has shown a six consecutive upward trend due to the OPEC+organization's maintenance of production cuts and supply concerns caused by the geopolitical situation in the Middle East. As of April 5th, WTI closed at $86.91 per barrel and Brent closed at $91.17 per barrel, reaching a new high in 2024. Subsequently, due to the pressure of pullback and the easing of geopolitical situation, international crude oil prices fell. On Monday (April 8th), WTI fell by 0.48 US dollars per barrel to 86.43 US dollars per barrel, while Brent fell by 0.79 US dollars per barrel to 90.38 US dollars per barrel. The strong cost provides strong support... -
In March, the upstream inventory of PE fluctuated and there was limited inventory reduction in the intermediate links
In March, upstream petrochemical inventories continued to decrease, while coal enterprise inventories slightly accumulated at the beginning and end of the month, showing a mainly fluctuating decline overall. The upstream petrochemical inventory operated in the range of 335000 to 390000 tons within the month. In the first half of the month, the market lacked effective positive support, resulting in a stalemate in trading and a heavy wait-and-see situation for merchants. Downstream terminal factories were able to purchase and use according to order demand, while coal companies had a slight accumulation of inventory. The depletion of inventory for two types of oil was slow. In the second half of the month, influenced by the international situation, international c... -
Polypropylene production capacity has grown like mushrooms after rain, reaching 2.45 million tons in production in the second quarter!
According to statistics, in the first quarter of 2024, a total of 350000 tons of new production capacity were added, and two production enterprises, Guangdong Petrochemical Second Line and Huizhou Lituo, were put into operation; In another year, Zhongjing Petrochemical will expand its capacity by 150000 tons per year * 2, and as of now, the total production capacity of polypropylene in China is 40.29 million tons. From a regional perspective, the newly added facilities are located in the southern region, and among the expected production enterprises this year, the southern region remains the main production area. From the perspective of raw material sources, both externally sourced propylene and oil based sources are available. This year, the source of raw mate... -
Analysis of PP Import Volume from January to February 2024
From January to February 2024, the overall import volume of PP decreased, with a total import volume of 336700 tons in January, a decrease of 10.05% compared to the previous month and a decrease of 13.80% year-on-year. The import volume in February was 239100 tons, a month on month decrease of 28.99% and a year-on-year decrease of 39.08%. The cumulative import volume from January to February was 575800 tons, a decrease of 207300 tons or 26.47% compared to the same period last year. The import volume of homopolymer products in January was 215000 tons, a decrease of 21500 tons compared to the previous month, with a decrease of 9.09%. The import volume of block copolymer was 106000 tons, a decrease of 19300 tons compared to the ... -
Strong Expectations Weak Reality Short term Polyethylene Market Difficulty to Break through
In March of Yangchun, domestic agricultural film enterprises gradually started production, and the overall demand for polyethylene is expected to improve. However, as of now, the pace of market demand follow-up is still average, and the purchasing enthusiasm of factories is not high. Most of the operations are based on demand replenishment, and the inventory of two oils is slowly being depleted. The market trend of narrow range consolidation is obvious. So, when can we break through the current pattern in the future? Since the Spring Festival, the inventory of two types of oil has remained high and difficult to maintain, and the consumption pace has been slow, which to some extent restricts the market's positive progress. As of March 14th, the inventor... -
Can the strengthening of European PP prices continue in the later stage after the Red Sea crisis?
International polyolefin freight rates showed a weak and volatile trend before the outbreak of the Red Sea crisis in mid December, with an increase in foreign holidays at the end of the year and a decrease in transaction activity. But in mid December, the Red Sea crisis broke out, and major shipping companies successively announced detours to the Cape of Good Hope in Africa, causing route extensions and freight increases. From the end of December to the end of January, freight rates increased significantly, and by mid February, freight rates increased by 40% -60% compared to mid December. Local sea transportation is not smooth, and the increase of freight has affected the flow of goods to some extent. In addition, the tradabl... -
2024 Ningbo High end Polypropylene Industry Conference and Upstream and Downstream Supply and Demand Forum
Our company's Manager Zhang participated in the 2024 Ningbo High end Polypropylene Industry Conference and Upstream and Downstream Supply and Demand Forum from March 7th to 8th, 2024. -
Chinaplas 2024 from Apr 23 to 26th in Shanghai, see you soon !
Chemdo, with the Booth 6.2 H13 from Apri.23 to 26, at CHINAPLAS 2024（SHANGHAI），International Exhibition on Plastics and Rubber Industries,awaiting you to enjoy our good service on PVC,PP,PE etc.,would like to integrate all and keep improving together with you for a win-win success！ -
The increase in terminal demand in March has led to an increase in favorable factors in the PE market
Affected by the Spring Festival holiday, the PE market fluctuated narrowly in February. At the beginning of the month, as the Spring Festival holiday approached, some terminals stopped work early for vacation, market demand weakened, trading atmosphere cooled, and the market had prices but no market. During the mid Spring Festival holiday period, international crude oil prices rose and cost support improved. After the holiday, petrochemical factory prices increased, and some spot markets reported higher prices. However, downstream factories had limited resumption of work and production, resulting in weak demand. In addition, upstream petrochemical inventories accumulated high levels and were higher than inventory levels after the previous Spring Festival. Linea... -
After the holiday, PVC inventory has increased significantly, and the market has not shown any signs of improvement yet
Social inventory: As of February 19, 2024, the total inventory of sample warehouses in East and South China has increased, with social inventory in East and South China at around 569000 tons, a month on month increase of 22.71%. The inventory of sample warehouses in East China is about 495000 tons, and the inventory of sample warehouses in South China is about 74000 tons. Enterprise inventory: As of February 19, 2024, the inventory of domestic PVC sample production enterprises has increased, approximately 370400 tons, a month on month increase of 31.72%. Returning from the Spring Festival holiday, PVC futures have shown a weak performance, with spot market prices stabilizing and falling. Market traders have a strong ... -
Wish you and your family a happy Lantern Festival!
Infants round on the sky, the ground people happy, everything is round! Spend, and King, and feeling better! Wish you and your family a happy Lantern Festival! -
The Spring Festival economy is hot and bustling, and after the PE festival, it ushers in a good start
During the Spring Festival of 2024, international crude oil continued to rise due to the tense situation in the Middle East. On February 16, Brent crude oil reached $83.47 per barrel, and the cost faced strong support from the PE market. After the Spring Festival, there was a willingness from all parties to raise prices, and PE is expected to usher in a good start. During the Spring Festival, data from various sectors in China improved, and consumer markets in various regions heated up during the holiday period. The Spring Festival economy was "hot and hot", and the prosperity of market supply and demand reflected the continuous recovery and improvement of the Chinese economy. The cost support is strong, and driven by the hot...