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This week, international oil prices first rose and then fell, WTI fell below $45 / barrel, and U.
S.
oil and Brent both fell to a new low
in nearly seven months.
With the Fed's interest rate hike and U.
S.
crude oil inventories rising continuously, oil prices may continue to operate weakly, and their support for PP is limited and even puts some downward pressure
on PP.
Due to the insufficient support of upstream crude oil, there is no room
for PP market quotations to continue to rise.
The operating rate of the downstream industry of the domestic PP market has not changed much this week, remaining at a low level
of about 61%.
Among them, the operating rate of plastic knitting industry is 65%, the operating rate of BOPP is 62%, and the operating rate of copolymer injection molding is 56%.
In terms of demand, the traditional demand off-season has not yet ended, coupled with the sluggish market and poor transactions, the contradiction between supply and demand is still sharp
in the short term.
The PP market has been volatile this week, with prices rising first and then falling
.
At the beginning of the week, PP overhaul was more, the operating rate dropped to about 80%, PP futures rebounded continuously, coupled with the increase in petrochemical factory prices, which drove PP higher; However, after the middle of the week, oil prices fell sharply, PP futures also rushed back down, petrochemical factory prices began to fall, bearish gradually dominated, spot prices followed, market transactions were poor, and low-priced supplies increased
.
PP market quotations are expected to remain weak next week
.
