Today’s Market Summary and Tomorrow’s Outlook

Feb 29, 2024

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PP powder

Today, the price of polypropylene powder in the domestic market has increased, with the price center increasing by 30-50 yuan/ton. The main futures market of polypropylene is fluctuating, which has limited impact on the market atmosphere. Some traders have reduced their low price offers. However, the enthusiasm of downstream factories to enter the market for procurement has not significantly improved, with a small amount of essential replenishment. The market trading atmosphere is weak, and actual orders are focused on negotiation.

Prediction: Business owners tend to be cautious, and trading companies may offer stable prices with small fluctuations. Downstream factories are gradually resuming operation, and the demand may improve, which will to some extent drive the market atmosphere. The price of propylene monomer has risen narrowly, increasing pressure on the cost of powder materials, and powder manufacturers may raise their offers. Based on the analysis of driving factors, it is expected that the price of PP powder will increase in the near future.

PVC (5942, 45.00, 0.76%)

Today, there has been little change in the mainstream quotation of domestic PVC paste enterprises, and market demand has not fully recovered. The trading atmosphere in the market is average, and some sellers still have preliminary orders that need to be delivered. Market price reference: Glove material delivered to the East China market for reference at 8200-8600 yuan/ton; The bulk material is delivered to the East China market at 7650-8600 yuan/ton.

Prediction: Currently, the recovery of market demand is slow, and there is currently no inventory pressure on supply side enterprises. It is expected that short-term enterprise quotations will remain stable, with some areas still showing an upward trend.