1 Today's Summary

① Sinopec Central China has reduced prices for some PP products: Luoyang granular material 7300, M18 at 7300; Zhonghan 8009 at 7600; Zhongyuan MT35 at 8050, MT75N at 7550.

②、 The domestic polypropylene shutdown impact decreased by 1.64% to 17.08% today. Details of changes in domestic PP maintenance units: the second line of Zhongjing Petrochemical's Phase II (600,000 tons/year) PP unit has restarted. The daily production ratio of raffia decreased by 2.08% to 25.41%, mainly due to the switch to other products in the second line of Sinochem Quanzhou.

③、 。

2 Current Spot Situation

Polypropylene priceSummary Table (Unit: Yuan/Ton)

Data source:Longzhong Information

Start withAs of today, the closing price for polypropylene fiber in the East China region was 7,369 yuan per ton, an increase of 8 yuan per ton from yesterday, in line with the morning's expectations. Futures are trading in a range with a slight upward bias. Today, polypropylene prices are mainly consolidating. The implementation of tariff policies has boosted the market, and the red trend on the futures market is supporting spot quotes. However, terminal demand remains weak, causing spot prices to fluctuate. Market traders are mostly operating according to the market, with actual transactions being negotiated. By midday, the mainstream price range for拉丝in East China was between 7,320 to 7,450 yuan per ton. 。

3 Spot-futures basis

In terms of basis, today the basis in the North China region is -57 yuan/ton, down 14 yuan/ton from yesterday; the polypropylene basis in the East China region is 11 yuan/ton, down 12 yuan/ton from yesterday.

4 Production dynamics

Polypropylene The capacity utilization rate increased from 74.46% to 76.02%, rising by 1.56% compared to the previous day. Today's changes in domestic PP unit maintenance: The second line of Zhongjing Petrochemical Phase II (600,000 tons/year) PP unit has restarted.

5 Market sentiment

Recently, international oil prices have been relatively strong, with support for PP at the bottom. The futures market has shown a firm performance, and spot prices have slightly increased. Downstream demand remains mostly cautious, with some entering the market for essential purchases, but there is limited acceptance of high prices, providing insufficient support for prices. Traders are primarily cautious and are letting go of inventory based on market conditions.

6

Affected by the US tariff policy, international oil prices may be dragged down due to concerns over demand prospects, which is expected to provide limited support for PP (polypropylene) from the cost side. In terms of demand, downstream purchases mainly maintain their minimum needs and tend to buy at lower prices, which does not significantly boost the market. On the supply side, there is no new increase in production capacity in the short term, coupled with the relatively concentrated maintenance shutdowns of production enterprises in the short term, keeping the supply pressure manageable. It is expected that the polypropylene market tomorrow may fluctuate within a range, with the mainstream price of East China拉丝 (a specific type of polypropylene product)mainly between 7,300-7,450 yuan/ton. Note: "拉丝" specifically refers to a type of polypropylene product used for fiber or filament production, but it's typically translated or left as-is in English technical contexts. If a more generalized translation is preferred, it could be translated as "polypropylene fiber/filament," but here it's kept in its original form given the context. 。

7

Table 2: Summary of Polypropylene Related Product Prices (Unit: RMB/ton)

8 Data Calendar

Table 3 Overview of Domestic Polypropylene Data (Unit: Ten Thousand Tons)