In July 2023, China's plastic product production reached 6.51 million tons, an increase of 1.4% year-on-year. Domestic demand is gradually improving, but the export situation of plastic products is still poor; Since July, the polypropylene market has continued to rise, and the production of plastic products has gradually accelerated. In the later stage, with the support of macro policies for the development of related downstream industries, the production of plastic products is expected to further increase in August. In addition, the top eight provinces in terms of product production are Guangdong Province, Zhejiang Province, Jiangsu Province, Hubei Province, Shandong Province, Fujian Province, Guangxi Zhuang Autonomous Region, and Anhui Province. Among them, Guangdong Province accounts for 20.84% of the national production, while Zhejiang Province accounts for 16.51% of the national production. The total production of Jiangsu Province, Hubei Province, Shandong Province, Fujian Province, Guangxi Zhuang Autonomous Region, and Anhui Province accounts for 35.17% of the national production.
In July 2023, China's plastic product production reached 6.51 million tons, an increase of 1.4% year-on-year. Domestic demand is gradually improving, but the export situation of plastic products is still poor; Since July, the polypropylene market has continued to rise, and the production of plastic products has gradually accelerated. In the later stage, with the support of macro policies for the development of related downstream industries, the production of plastic products is expected to further increase in August. In addition, the top eight provinces in terms of product production are Guangdong Province, Zhejiang Province, Jiangsu Province, Hubei Province, Shandong Province, Fujian Province, Guangxi Zhuang Autonomous Region, and Anhui Province. Among them, Guangdong Province accounts for 20.84% of the national production, while Zhejiang Province accounts for 16.51% of the national production. The total production of Jiangsu Province, Hubei Province, Shandong Province, Fujian Province, Guangxi Zhuang Autonomous Region, and Anhui Province accounts for 35.17% of the national production.
Overall, the recent upward trend in polypropylene futures has seen petrochemical and PetroChina companies increase their factory prices, resulting in strong cost support, active traders, and a clear upward trend in the spot market; Entering the traditional consumption peak season of "Golden Nine Silver Ten", the willingness to shut down and repair domestic petrochemical plants has weakened. In addition, the delay in production of new plants can reduce the pressure on supply growth to a certain extent; Substantial improvement in the demand of downstream enterprises still requires time, and some users are resisting high priced sources of goods, and transactions are mainly negotiated. It is expected that the PP particle market will continue to rise in the future.
Post time: Sep-11-2023