In 2023, the overall price of polypropylene in foreign markets showed range fluctuations, with the lowest point of the year occurring from May to July. The market demand was poor, the attractiveness of polypropylene imports decreased, exports decreased, and domestic production capacity oversupply led to a sluggish market. Entering the monsoon season in South Asia at this time has suppressed procurement. And in May, most market participants expected prices to further decline, and the reality was as expected by the market. Taking Far East wire drawing as an example, the wire drawing price in May was between 820-900 US dollars/ton, and the monthly wire drawing price range in June was between 810-820 US dollars/ton. In July, the month on month price increased, with a range of 820-840 US dollars per ton.
The relatively strong period in the overall price trend of polypropylene during the period of 2019-2023 occurred from 2021 to mid-2022. In 2021, due to the contrast between China and foreign countries in epidemic prevention and control, China's market exports were strong, and in 2022, global energy prices skyrocketed due to geopolitical conflicts. During that period, the price of polypropylene received strong support. Looking at the whole year of 2023 compared to 2021 and 2022, it appears relatively flat and sluggish. This year, suppressed by global inflationary pressure and economic recession expectations, consumer confidence has been hit, market confidence is insufficient, export orders have sharply decreased, and domestic demand recovery is less than expected. Resulting in an overall low price level within the year.
Post time: Dec-04-2023