In May 2024, China's plastic product production was 6.517 million tons, an increase of 3.4% year-on-year. With the increasing awareness of environmental protection, the plastic products industry pays more attention to sustainable development, and factories innovate and develop new materials and products to meet the new needs of consumers; In addition, with the transformation and upgrading of products, the technological content and quality of plastic products have been effectively improved, and the demand for high-end products in the market has increased. The top eight provinces in terms of product production in May were Zhejiang Province, Guangdong Province, Jiangsu Province, Hubei Province, Fujian Province, Shandong Province, Anhui Province, and Hunan Province. Zhejiang Province accounted for 17.70% of the national total, Guangdong Province accounted for 16.98%, and Jiangsu Province, Hubei Province, Fujian Province, Shandong Province, Anhui Province, and Hunan Province accounted for a total of 38.7% of the national total.
Recently, the polypropylene futures market has weakened, and petrochemical and CPC companies have successively lowered their ex factory prices, causing a shift in the focus of spot market prices; Although the maintenance of PP equipment has decreased compared to the previous period, it is still relatively concentrated. However, it is currently the seasonal off-season, and downstream factory demand is weak and difficult to change. The PP market lacks substantial momentum, which is suppressing transactions. In the later stage, the planned maintenance equipment will be reduced, and the expectation of a better demand side is not strong. It is expected that the weakening of demand will exert a certain pressure on PP prices, and the market situation is difficult to rise and easy to fall.
In June 2024, the polypropylene market experienced a slight decline followed by strong fluctuations. In the first half of the year, the prices of coal production enterprises remained relatively firm, and the price difference between oil production and coal production narrowed; The price difference between the two is widening towards the end of the month. Taking Shenhua L5E89 as an example in North China, the monthly price ranges from 7680-7750 yuan/ton, with the low-end rising by 160 yuan/ton compared to May and the high-end remaining unchanged in May. Taking the T30S of Hohhot Petrochemical in North China as an example, the monthly price ranges from 7820-7880 yuan/ton, with the low-end increasing by 190 yuan/ton compared to May and the high-end remaining unchanged from May. On June 7th, the price difference between Shenhua L5E89 and Hohhot T30S was 90 yuan/ton, which was the lowest value of the month. On June 4th, the price difference between Shenhua L5E89 and Huhua T30S was 200 yuan/ton, which was the highest value of the month.
Post time: Jul-15-2024