Returned after the Dragon Boat Festival, the upstream acrylic is weak and downward, the cost support of powder companies has weakened, and PP futures fluctuated widely, which also lacked a strong boost to the spot market. PP powder prices fluctuated and fell, but the declines in each region were slightly different.
Short-term international crude oil may continue to fluctuate, propylene monomers may run weakly in a narrow range, and the upstream cost support for powder materials is still difficult to strengthen. In addition, next week, Qingdao Petrochemical PP powder equipment has expected to resume production, and other companies have no new maintenance plans, and market supply is expected to increase in a narrow range; while the downstream is in the off-season, overall demand may still be difficult to concentrate, and market supply and demand pressure continues. In addition, the price difference between northern powder particles is still relatively narrow recently, while the supply and demand of pellets are under pressure, and may continue to have a weak fluctuation trend in the near future, and the trend of powder companies is still restricted by pellets. Overall, the short-term market still lacks strong positive boosts, and it is expected that PP powder will continue to be consolidated at a low level, mainly shipped.
