Plastics: Summary Of Today’s Market And Outlook For Tomorrow

Feb 07, 2023

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PP granule

Today, the PP spot market declined in a narrow range, with the range of some brands around 20-50 yuan/ton. The main futures of PP futures fell in shock, which suppressed the trading atmosphere of the spot market. The ex-factory price of some petrochemicals was reduced, and the support of supply and cost was weakened. Due to the poor transaction in the market, the trading firm’s offer was more narrow and the profit was reduced to promote shipment. There is no obvious improvement in the purchasing willingness of the downstream side, so we should be more cautious in operation, and the firm offer should be more focused on negotiation. Today, the mainstream price of wire drawing in North China is 7750-7850 yuan/ton, the mainstream price of wire drawing in East China is 7700-7850 yuan/ton, and the mainstream price of wire drawing in South China is 7880-8000 yuan/ton.

Forecast: PP futures are weak today, and spot prices continue to be weak. In the short term, the volatility of futures has limited impact on the spot. Fundamentally, the ex-factory price of petrochemical industry was partially reduced, and the market support was slightly loosened in the face of cost. Recently, the price fluctuated, the wait-and-see atmosphere in the market was heavy, and the operators were still in a partial bearish mood. The overall transaction was difficult to be measured, and the demand follow-up was limited. Based on this, it is expected that the domestic polypropylene finishing will be weak tomorrow. Taking East China as an example, the mainstream price of wire drawing is expected to be 7700-7850 yuan/ton.

PVC

Today’s domestic PVC paste resin enterprises offer little change, the downstream purchasing atmosphere is general, and the market volume is light. The overall trading atmosphere of the glove material market was general, and the glove material was delivered to 7600-8200 yuan/ton in the East China market. The trading atmosphere of the large-cap material market is light, and the offer of enterprises has little change. The large-cap material is delivered to 7650-8400 yuan/ton in the East China market.

Forecast: At present, the market demand is gradually recovering, but the market wait-and-see mood is not decreasing, and the pressure on some enterprises to ship goods is gradually increasing. It is expected that there will be flexible shipping possibilities in the stable offer of enterprises tomorrow.