News summary
Liansu L2409 and PP main force 09 both fellpokerstarsfree, the plastic supply side has not changed muchpokerstarsfree, downstream demand is weak and high raw materials are difficult to support, which boosts the commodity market.
Newsletter text
[Liansu L2409 closed in shock]
At the beginning of the market opening, Liansu L2409 showed an unfavorable start, and the price showed a downward trend. At the end of the market, the market closed down at a price of 8523 yuan/ton, down 74 yuan/ton from the previous trading day, a drop of 0pokerstarsfree.86%。At the same time, trading volume rose sharply to 370,000 lots, while open positions decreased by 37841 lots to 480903 lots.
The performance of PP's main force 09 was also unsatisfactory, and it finally closed at 7718 yuan/ton, with a decline of 0.0%pokerstarsfree.95%。Open positions fell month-on-month from the previous trading day, decreasing by 36214 lots, currently at 580490 lots.
Although the petrochemical industry is still in a routine maintenance period, and follow-up maintenance and restart plans for the plastics industry coexist, there have been no significant changes on the supply side. The level of maintenance in PP is high, and the new equipment has not yet increased significantly.
On the demand side, the performance of the terminal market has been weak. The operating rates of downstream PE industries such as agricultural film and packaging industries have decreased. The follow-up of orders for new products has been limited. The downstream market's ability to withstand high raw materials has weakened.
Although the macro environment remains strong, real estate policies are improving again, and the real estate sector is active, which has led to an improvement in commodity market sentiment and an increase in polyolefin prices. However, due to weakening cost support and drag on demand recently, market sentiment has gradually cooled down and prices have adjusted back to high levels.