In early November, the market short-short game, PP powder market volatility is limited, the overall price is narrow, and the scene trading atmosphere is dull. However, the supply side of the market has changed recently, and the powder in the future market has been calm or broken.
Entering November, upstream propylene continued a narrow shock mode, the mainstream fluctuation range of the Shandong market was 6830-7000 yuan/ton, and the cost support of powder was limited. At the beginning of November, PP futures also continued to close and open in a narrow range above 7400 yuan/ton, with little disturbance to the spot market; In the near future, the downstream demand performance is flat, the new single support of enterprises is limited, and the price difference of powder particles is small, and the pressure of powder shipment is not reduced. The market upstream and downstream long and short game, the mentality of powder enterprises is cautious, the recent price adjustment intention is low, the overall large stable small movement, narrow finishing. As of today's close, the mainstream price range of PP powder in the Shandong market came to 7270-7360 yuan/ton, and some low prices were near 7220 yuan/ton, which was significantly larger than the previous period.
In early November, PP powder plants in Guangxi Hongyi and Golmud Refineries resumed normal operation successively; And into this week, Skin health has gradually resumed production; In addition, the market heard that the recent Shandong Jincheng 300,000 tons/year PP device will be put into production, and the initial production will mainly produce 225 grade powder. Although the Cangzhou refinery has not resumed production, the market has heard that its powder plant may start in mid-November. With the gradual resumption of work and production of some pre-maintenance devices, and the continuous launch of new production capacity, the overall supply of PP powder increased in mid-November.
In the near future, the propylene market is still not expected to fluctuate greatly, and the powder cost surface disturbance is small. However, the market supply is increasing, and the downstream demand is difficult to further improve, and the pressure of supply and demand of powder still exists; At present, the price difference of powder particles is small, and powder shipments are still facing strong competition. The market lacks a strong positive boost, the business mentality continues to be cautious, the short-term PP powder market or a continuation of narrow consolidation, flexible shipment posture, if the low price pressure increases, the market price or pressure narrow downward consolidation.
Post time: Nov-08-2024