1. Previous Trading Day Domestic PP Market Overview
The China PP market witnessed a high-level price correction in the last trading day.
Declining PP futures prices dampened overall trading sentiment in the China spot market.
Sustained firm quotations from PP manufacturers provided solid support for the spot market.
Tight available spot resources kept traders’ offers mostly steady at high levels.
Downstream enterprises showed weak new order placement and cautious procurement willingness.
The overall trading activity of the China PP market remained sluggish on the whole.
2. Key Factors Driving Current PP Market Price Fluctuations
2.1 Market Demand Factor
Downstream PP consumption industries saw slow new order growth and lower operating rates.
Limited profit margins made downstream buyers adopt a rigid low-price purchasing strategy.
Sustained weak short-term market demand curbed the upward momentum of PP prices.
2.2 Market Supply Factor
A large number of PP production units entered centralized maintenance and shutdown status.
The capacity ratio of suspended PP production facilities has reached nearly 30% currently.
Continuous tight spot resource supply delivered strong support to the China PP market.
2.3 Market Sentiment and Cost Factor
Increasing shipping volume via the Strait of Hormuz eased global crude oil tension.
European and American crude oil futures closed lower amid continuous market fluctuations.
Falling crude oil prices weakened the raw material cost support for PP products.
Sharp declines in overnight PP futures further suppressed market trading sentiment.
3. Latest PP Market Trend Judgment and Price Forecast
Zhuochuang Information releases professional judgment on the latest China PP market trend.
Domestic PP market prices are expected to loosen slightly from current high levels today.
Tight spot supply continues to underpin the PP market and limit sharp price declines.
Sluggish downstream demand fails to drive further upward breakthroughs of PP prices.
Falling crude oil and weak overnight PP futures intensified market bearish sentiment.
High PP market prices face obvious correction risks in the short trading cycle.
Market research shows about 70% of traders hold a bearish view on PP prices.
The mainstream price of China wire-drawing PP is predicted at 9600-9800 yuan per ton today.
