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In December, the market was mixed with bad news.
The large-scale installations in the market were successfully tested, and the supply continued to surge, which made the industry more worried about the market outlook
.
1.
The price difference between internal and external disks gradually narrowed
From the comparison of the price difference between internal and external PP in 2019, it is found that the price of the internal and external market in the market began to gradually reverse the situation in December, mainly because the current multi-sets of international polypropylene plants are not running smoothly.
Short-term unsustainable phenomena, and at the same time, Western countries are facing the New Year festival, and most production enterprises have reduced their work load, resulting in a shortage of domestic resources to Hong Kong
.
2.
Comparison of futures and spot price differences
According to the analysis of the spot price difference in 2019, the spot drawing was dragged down by the low opening of the futures and the weak follow-up of the terminal demand, and the overall bearish sentiment in the market increased significantly
.
3.
Comparative analysis of inventory and wire drawing
Inventory in December 2019 showed a fluctuating downward trend as a whole, and the overall inventory remained at 600,000-700,000 tons per year.
However, the weak global economy and the weaker orders of domestic real enterprises were less than expected, and the consumption of raw materials in the market was restricted
.
Fourth, the domestic competition pressure of imported PP is highlighted
The domestic polypropylene supply and demand pattern has gradually become prominent, and the continuous release of PP production capacity has formed a clear contrast with the lower-than-expected growth rate of the terminal, which has increased the pressure on the domestic market
.
