1 Today's Summary

①、 Crude oil ： 4/1: Market focus shifted from oil-producing country sanctions to US tariff policies, with concerns over demand prospects dragging down international oil prices.

PP City ： By midday, the mainstream price of drawing-grade wire rod in East China was at 7,320-7,450 yuan/ton.

2 Spot Overview

Table 1 Domestic RegenerationPP priceSummary Table (Unit: RMB/ton)

Based on the Shandong region, the price of high-quality first-grade white transparent particles is reported at 5850 yuan/ton today. The market price trend is stable, in line with morning expectations. The market purchase and sales atmosphere is平淡, the downstream inquiry and procurement atmosphere is general,再生企业随行就市出货，多供老客户订单为主，实单成交侧重商谈。 (Note: The provided Chinese text contains some phrases that are challenging to translate accurately without additional context. Here's a direct translation attempt, but it may benefit from further refinement based on specific industry terminology.) The market purchase and sales atmosphere is subdued, with general downstream inquiries and procurement activities. Recycled material enterprises are selling according to market conditions, mainly supplying orders for regular customers, with actual transactions focusing on negotiations.

3 Production Dynamics

This week,Upstream raw material supply remains at a high level, with costs continuously supporting the market. However, downstream demand is limited, and there is weak sales of recycled materials. Recycled material manufacturers are under pressure, and the market's production attitude is cautious, mainly fulfilling orders for old customers and flexibly arranging production schedules.

4 Price prediction

The market price of recycled PP remains stable, with companies maintaining their prices while observing the market. There is no significant improvement in demand within the market, and the purchasing enthusiasm from downstream buyers is average. Recycled PP producers are selling their products according to the market while being cautious with their quotes. 。 The market price trend of new chat is volatile, and the driving force for再生企业 to ship goods is limited, with flexible production scheduling. It is expected that the short-term market trend will continue to consolidate, and it is recommended that enterprises purchase according to their immediate needs.

5 , Relevant product information

PP This morning, futures were slightly higher. Today's polypropylene prices. Interval consolidation is the main trend. The implementation of tariff policies boosts the market, and the red futures support the spot quotes. However, terminal demand is not satisfactory, causing the spot prices to fluctuate up and down. Market traders mainly operate following the market, with actual transactions negotiated. By noon, the mainstream price for华东拉丝in East China was between 7320-7450 yuan per ton.