PP: Overhaul month hijacked by capacity

Compared with the gold nine and silver ten in name only, the traditional maintenance season between May and June brings real benefits to the market: supply cuts, a brief handshake with demand, and the market can take the opportunity to break throu.

Company Name	Parking capacity	parking time	Maintenance days
Zhongjing Petrochemical	Line 35	May 7	20 days
Zhongjing Petrochemical	Second line 35	May	pending
Sino-Korea Petrochemical	JPP20	May	7 days
Sino-Korea Petrochemical	STPP20	June	7 days
Shenhua Ningxia Coal	20	May 7	30 days
Shenhua Ningxia Coal	30	May 7	18 days
Wuhan Petrochemical	10	May	10 days
Zhanjiang Dongxing	14	May 20	60 days
Luoyang Petrochemical	14	April 20	45-60 days
Langang Petrochemical	-	April 28	60 days
Lanzhou Petrochemical	-	April 25	end of June
Dalian West Pacific	-	April 1	Ends May 15th
Qinghai Salt Lake	-	Parking in early May	pending
Qingdao Refinery	-	May 25	pending
Yan'an Neng Hua	30	July	30 days

Company Name Parking Capacity Parking Time Maintenance Days Zhongjing Petrochemical First Line 35 May 7 20 Zhongjing Petrochemical Second Line 35 May To Be Determined Day 30 Shenhuaning Coal 30 May 7 Day 18 Wuhan Petrochemical 10 May 10 Zhanjiang Dongxing 14 May 20 60 Day Luoyang Petrochemical 14 April 20 45-60 Day Langang Petrochemical - April 28 60 Day Lanzhou Petrochemical - April 25 Ends in June Dalian West Pacific - April 1 Ends May 15Qinghai Salt Lake - Early May Parking to be determined Qingdao Refinery - May 25 to be determined Yan'an Nenghua 30 July 30 days Company Name Parking Capacity Parking Capacity Parking Time Maintenance Days Company Name Company Name Parking Capacity Parking Capacity Parking Time Parking Time Maintenance Days Maintenance Days Medium Shot Petrochemical First Line 35 May 7th 20th Zhongjing Petrochemical Zhongjing Petrochemical First Line 35 First Line 35 May 7th May 7th 20 days May TBD China - Korea Petrochemical JPP20 May 7 daysSino-Korean Petrochemical Sino-Korean Petrochemical JPP20 JPP20 May 7th 7th Sino-Korean Petrochemical STPP20 June 7th Sino-Korean Petrochemical Sino-Korean Petrochemical STPP20 STPP20 June June 7th 7th Shenhuaning Coal 20 May 7th 30 days Shenhua Ningmei Shenhua Ningmei 20 20 May 7th May 7th 30 days 30 days Shenhua Ningmei 30 May 7th 18 days Shenhua Ningmei Shenhua Ningmei 30 30 May 7th May 7th 18 days 18 days Wuhan Petrochemical 10 May 10 days Wuhan Petrochemical Wuhan Petrochemical 10 May 10May 10th 10 days Zhanjiang Dongxing 14 May 20th 60 days Zhanjiang Dongxing Zhanjiang Dongxing 14 14 May 20th May 20th 60 days 60 days Luoyang Petrochemical 14 April 20th 45-60 days Luoyang Petrochemical Luoyang Petrochemical 14 14 April 20 April 20 45-60 days 45-60 days Langang Petrochemical - April 28 60 days Langang Petrochemical - April 28 April 28 60 days 60 days Lanzhou Petrochemical - 4 End of June 25th Lanzhou Petrochemical Lanzhou Petrochemical- - End of June April 25th End of JuneDalian West Pacific - April 1st May 15th Dalian West Pacific Dalian West Pacific - April 1st April 1st May 15th End May 15th Qinghai Salt Lake - Early May Parking TBD Qinghai Salt Lake Qinghai Salt Lake - - Parking at the beginning of May, parking at the beginning of May, to be determined , Qingdao Refinery - May 25, Qingdao Refinery , Qingdao Refinery - - May 25, May 25, to be determined , Yan'an Neng Hua 30 July 30 Yan'an Neng Hua Yan'an Neng Hua 30 30 July July 30 days 30 days

Overview of equipment maintenance in May (as of May 6)

Data from this website shows that the PP market has nearly 14 million tons/year of production capacity in May alone, which is about to enter maintenan.

Company Name	Production capacity	Product variety
Dalian Hengli	45	Brushed L5E89
Dongguan Juzhengyuan	60	Brushed L5E89
Jiutai Energy	35	Brushed L5E89
total	140

Enterprise Name Production Capacity Product Variety Dalian Hengli 45 Drawing L5E89 Dongguan Juzhengyuan 60 Drawing L5E89 Jiutai Energy 35 Drawing L5E89 Total 140 _ _ _ Dalian Hengli Dalian Hengli 45 45 Brushed L5E89 Brushed L5E89 Dongguan Juzhengyuan 60 Brushed L5E89 Dongguan Juzhengyuan Dongguan Juzhengyuan 60 60 Brushed L5E89 Brushed L5E89 Jiutai Energy 35 Brushed L5E89 Jiutai Energy Jiutai Energy 35 35 Brushed L5E89Brushed L5E89 Total 140 Total Total 140 140

Overview of new capacity additions in May

Just took the life-saving straw for maintenance, but found that the robber of production capacity was coming with a sharp bla.

International crude oil: Since the beginning of this year, international crude oil has played the role of cost support for a long time, and the price once reached a new high in half a ye.

Propylene monomer: The current propylene market situation is not ide.

Summary: Although the upstream cost support is still strong, due to the concentrated launch of new production capacity, the market may lack a key driving force to open an upward chann.