December 29, 2022
According to the data monitored by SunSirs, this week's PP market was organized and operated, and the spot prices of wire drawing brands rose and fell with each other. As of December 23, the mainstream offer price of T30S (wire drawing) by domestic manufacturers and traders was about 7,908.33 RMB/ton, up or down by +0.32% compared with the average price at the beginning of the month.
Industrial chain: in the upstream, the domestic propylene market has been consolidated and operated after the recent fall. In the early stage, the Federal Reserve delayed to raise interest rates and the recent OPEC production reduction and other news impacts, the international crude oil and petrochemical industry chain was boosted, and the propylene cost side support was strengthened. However, there is no improvement in demand. Meanwhile, downstream product profits are tightened, the operating rate is not high, and procurement is restrained. It is expected that the propylene market may enter the game market shock consolidation.
The propylene price stopped falling and ran in shock, and the recent PP cost side was generally supported. In terms of industry load, this week, the maintenance and resumption of work of PP polymerization enterprises coexisted, the industry load increased overall, the supply of goods in the yard was sufficient, and the inventory position decreased by a narrow margin. In terms of demand, the market of the products started by downstream enterprises is average, among which the stock volume of plastic weaving enterprises and BOPP enterprises has limited change, but it has decreased year on year. This week's expanding demand for melt blown materials has weakened the driving effect on other handle new varieties.
In terms of fiber materials, according to the data monitored by SunSirs, as of December 23, the spot price of domestic fiber PP was generally flat. The mainstream offer price of domestic producers and traders Z30S (fiber) is about 8,183.33 RMB/ton, up or down 2.29% compared with the average price at the beginning of the month, and +0.82% year-on-year. This week, the main downstream non-woven fabric enterprises of PP fiber maintained their load, the profit of spunbonded non-woven fabric was fair, and the demand of terminal enterprises was normal. The digestion speed of nonwoven end products is acceptable, and the enterprise's replenishment of fiber PP is stable. The kinetic energy on the site will remain firm, and it may still maintain consolidation and operation in the short term.
In terms of melt blown materials, melt blown PP market kept rising this week. As of December 23, the average quotation of domestic meltblown material sample enterprises monitored by SunSirs was about 10,933.33 RMB/ton, which was +21.48% higher than the average price at the beginning of the month, and +13.69% higher than the same period last year. In terms of international health events, the current optimization of China's health event disposal has triggered a large demand for masks. Social consumption has played a significant role in pulling medical melt blown fabric materials, but this week there was a weakening trend. The domestic and foreign demand has not significantly helped. However, the supply of meltblown materials in the market has been abundant for a long time, and domestic meltblown materials and cloth enterprises have a high degree of starting saturation. Therefore, the increase in the price of melt blown materials was less than expected. It is expected that the short-term market will continue to strengthen.
SunSirs PP analysts believe that the good news of the polypropylene market this week is mainly the high demand for meltblown materials, but the momentum has weakened. The raw propylene market stopped falling, and the terminal enterprises just needed to hold firm. The trading on the floor was fair, but the buyer was cautious in its operation. It is expected that China PP market will continue to operate firmly in the short term.
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