According to the data monitored by the business agency, the PP market was shaken and sorted in early February, and the fiber products were also shaken to varying degrees in Zaangdihu County of each wire drawing brand. As of February 6, the mainstream price of T30S (wire drawing) offered by domestic producers and traders was about 7991.67 yuan/ton, up and down by+0.31% compared with the average price at the beginning of the month.
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Cause analysis
Industrial chain: in the upstream, the propylene market stabilized after falling, and the transaction atmosphere was good before, and the price was tentatively pushed up. At present, the crude oil price fluctuates and the cost support weakens, affecting the decline of propylene. After the holiday, the market demand followed up slowly, and the prices of individual enterprises fell back, and the current prices recovered smoothly.
Propylene prices stopped falling and stabilized, providing general support for PP cost side. In terms of industry load, the current high starting point of PP enterprises has declined in a narrow range, and the overall industry load is stable. The supply of goods in the site is relatively sufficient. Due to the continuous operation of the supplier’s going to the warehouse, the manufacturer’s inventory position is low and has declined, and the supply pressure is not strong. In terms of demand, at present, the upstream part of the downstream PP enterprises in China is slow to resume work, the main downstream plastic knitting enterprises have a general operating rate, and the terminal enterprises’ stock situation is not as expected, so they purchase as needed after the holiday.
In terms of fiber materials, according to the data monitored by the Business Agency, as of February 6, the spot price of domestic fiber PP was generally flat. The mainstream quoted price of domestic producers and traders Z30S (fiber) is about 8016.67 yuan/ton. Compared with the average price at the beginning of the month, it has increased by – 1.43% and decreased by – 4.56% year-on-year. At present, the downstream non-woven fabric enterprises, the main force of PP fiber, have a general load, and the demand of terminal enterprises tends to be stable. The digestion speed of non-woven end products is general, and the enterprise’s replenishment operation of fiber PP is not high due to the resumption of work. The spot price is lower than that of wire drawing material, and it is expected that it will still maintain the operation of shock consolidation in the short term.
In terms of melt-blown materials, the market of melt-blown PP fell in a narrow range recently. As of February 6, the average quotation of domestic melt-blown material sample enterprises monitored by the Business Society was about 9900 yuan/ton, up and down by – 1% compared with the average price at the beginning of the month, up by+4.39% year-on-year. In terms of international health events, at the end of last year, the disposal of health events in China was optimized, resulting in a large demand for masks. However, at present, the social consumption of medical melt-blown cloth materials has been more beneficial, and the recent demand has declined and stabilized. Domestic and overseas demand has not been significantly boosted. At present, the supply of melt-blown materials in the market is abundant for a long time, and the saturation of domestic melt-blown materials and cloth enterprises is high. Therefore, the price of melt-blown materials may stabilize at the present time when the demand momentum slows down.
Aftermarket forecast
PP analysts of the Business Agency believe that the recent polypropylene market has been shaken and sorted out. The market of raw material propylene stabilized after falling, and the cost support was general. The demand of terminal enterprises tends to just need to maintain production, and after the resumption of work, the demand has not been fully expanded. However, under the influence of the favorable policy and macroeconomic environment, it is expected that the PP market will improve after the resumption of downstream work.
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