At present, there are more PP and PE parking and maintenance devices, petrochemical inventory is gradually reduced, and the supply pressure on the site is slowed down. However, in the later period, a number of new devices are added to expand the capacity, the device restarts, and the supply may be significantly increased. There are signs of weakening downstream demand, agricultural film industry orders began to reduce, weak demand, is expected to be the recent PP, PE market shock consolidation.
Yesterday, international oil prices rose, as Trump's nomination of Rubio as secretary of state is a positive for oil prices. Rubio has taken a hawkish stance on Iran, and the potential tightening of U.S. sanctions against Iran could reduce global oil supply by 1.3 million barrels per day. As a result, the price of US and cloth oil rose, as of the end of the day, US oil closed at $68.43 per barrel, up 0.46%; Crude oil closed at $72.28 a barrel, up 0.54%. Oil prices rose briefly, boosting plastic spot offers. In terms of futures, PP and PE futures fluctuated today, rising after the opening low, but lower in the end, and the futures trend weakened, suppressing plastic spot offers. In terms of petrochemical, as of November 14, the stock of plastic two barrels of oil was 670,000 tons, down 10,000 tons from yesterday. Down 1.47% quarter on quarter, down 0.74% year on year, petrochemical inventory decline, inventory pressure is not big, boost plastic spot offers. The current oil price is expected to rise, futures fell slightly, the positive and negative confrontation in the field, the recent plastic price narrow rise and fall mainly.
From the market offer situation, PP prices are partly bullish, today PP wire drawing mainstream price of 7350-7670 yuan/ton, North China linear price of 7350-7450 yuan/ton, the same as yesterday. The drawing price in East China was 7350-7600 yuan/ton, unchanged from yesterday. The drawing price in South China is 7600-7670 yuan/ton, the offer in the region is gradually probing 20-50 yuan/ton, and the linear price in Southwest China is 7430-7500 yuan/ton, which is the same as yesterday.
PE market offers slightly up, the current linear mainstream price is 8400-8700 yuan/ton, the linear price in North China is 8450-8550 yuan/ton, and the low offer is 15 yuan/ton lower than yesterday. The linear price in East China is 8550-8700 yuan/ton, and some offers are 20 yuan/ton higher than yesterday. The linear price in South China was 8600-8700 yuan/ton, unchanged from yesterday. The linear price in the southwest region is 8400-8450 yuan/ton, and the offer in the region is slightly up 20-50 yuan/ton. LDPE price slightly up, the mainstream offer in 10320-11000 yuan/ton, North China high-pressure offer 10320-10690 yuan/ton, low offer slightly down 10 yuan/ton. East China high pressure 10700-10850 yuan/ton, low offer slightly down 50 yuan/ton. The high pressure price in South China was 10680-10900 yuan/ton, unchanged from yesterday. The high pressure price in the southwest region is 10850-11,000 yuan/ton, and the offer in the region is slightly up 100 yuan/ton.
In the macro environment, Trump's second term as president is approaching and he has threatened to impose tariffs on all goods exported to the United States. In the face of Trump's tariff threat, European Central Bank officials warned that Trump's tariff policy could not only lead to a resurgence of domestic inflation in the United States, but also could hurt global economic growth, which is not conducive to commodity prices.
In summary, at present, there are more PP and PE parking and maintenance devices, petrochemical inventories are gradually reduced, and the supply pressure on the site is slowed down. However, in the later period, a number of new devices are added to expand the capacity, the device restarts, and the supply may be significantly increased. There are signs of weakening downstream demand, agricultural film industry orders began to reduce, weak demand, is expected to be the recent PP, PE market shock consolidation.
Post time: Nov-15-2024