PP: Where is the long-short interweaving going?

In March, the overall trend of the domestic PP market was flat, and the market showed a volatile tre.

Classification	grade	Origin	March 1	March 27	ups and downs	MoM %
brushed	T30S	Zhenhai Refinery	9100	9200	100	1
Homopolymer injection	1100N	Shenhua Ningxia Coal	9100	9000	-100	-1
Copolymer injection	PPB-M02 (J340)	Yangzi Petrochemical	9550	9600	50	52
powder	45	Ningbo Yongxing	9000	8800	-200	-22
transparent	RP344R-K	Huajin Chemical	10400	10450	100	48
fiber	Y16SY	Shaoxing Sanyuan	9000	9000	0	0
pipe	B8101	Yanshan Petrochemical	10350	10450	100	97

Classification Brand Place of Origin March 1st March 27th Changes month-on-month % Drawing T30S Zhenhai Refinery 9100 9200 100 1 Homopolymer injection 1100N Shenhua Ningmei 9100 9000 -100 -1 Copolymer injection PPB-M02 (J340) Yangzi Petrochemical 9550 9600 50 52 Powder 45 Ningbo Yongxing 9000 8800 -200 -22 Transparent RP344R-K Huajin Chemical 10400 10450 100 48 Fiber Y16SY Shaoxing Sanyuan 9000 9000 0 0 Pipe B8101Yanshan Petrochemical 10350 10450 100 97 Origin of classification grade March 1st March 27th change compared to the previous month _ _ _ _ Daily ups and downs Up and down % MoM % Drawing T30S Zhenhai Refining & Chemical 9100 9200 100 1 Drawing T30S T30S T30S Zhenhai Refining & Chemical Zhenhai Refining & Chemical 9100 9100 9100 9200 9200 9200 100 100 100 11 1 Homopolymer injection molding 1100N Shenhua Ningmei 9100 9000 -100 -1 Homopolymer injection molding _ _ _ _ _ _ _ _ _ _ _ _ _ _ PPB-M02 (J340) Yangzi Petrochemical 9550 9600 50 52 Copolymer injection Copolymer injection PPB-M02 (J340) PPB-M02 (J340) PPB-M02 (J340) Yangzi Petrochemical Yangzi Petrochemical 9550 9550 9550 9600 9600 960050 50 50 52 52 52 Powder 45 Ningbo Yongxing 9000 8800 -200 -22 Powder Powder 45 45 45 Ningbo Yongxing Ningbo Yongxing 9000 9000 9000 8800 8800 8800 -200 -200 -200 -22 -22 -2 RP344R-K Huajin Chemical 10400 10450 100 48 Transparent Transparent RP344R-K RP344R-K RP344R-K Huajin Chemical Huajin Chemical 10400 10400 10400 1045010450 10450 100 100 100 48 48 48 fiber Y16SY Shaoxing Sanyuan 9000 9000 0 0 fiber fiber Y16SY Y16SY Y16SY Shaoxing Sanyuan Shaoxing Sanyuan 9000 9000 9000 0 0 0 0 0 0 0 0 0 0350 10450 1097 _ _ _ B8101 B8101 B8101 Yanshan Petrochemical Yanshan Petrochemical 10350 10350 10350 1045010450 10450 100 100 100 97 97 97

A brief analysis of the later influencing factors:

First, the value-added tax will be reduced by 3%

The Ministry of Finance, the State Administration of Taxation, and the General Administration of Customs jointly issued the "Announcement on Deepening the Value-Added Tax Reform Relevant Policies" (ie the detailed rules for the value-added tax refor.

Maintenance and production are in full swing

In April, the maintenance of petrochemical PP units was relatively concentrat.

It is reported that Jiutai Energy (350,000 tons/year), Hengli Petrochemical (450,000 tons/year), and Dongguan Juzhengyuan (600,000 tons) PP units will be officially put into operation from the end of March to mid-April, but the new units have always been put into operati.

The strong crude oil season may end

In an environment where EIA crude oil inventories continue to fall and OPEC continues to insist on production cuts, the impact of weak global economic expectations on oil prices is clearly dominant in the current mark.

Petrochemical has downward pressure

Although in the face of the tax reform, some downstream companies have been billing goods in advance, but under the influence of the accumulation of the two oil inventories, which has been high, the petrochemical industry is under pressure to reduce the ex-factory pri.

Overall terminal demand is warming

March-April is the peak season for relative demand in many industri.

On the whole, the current long and short news is stalemate, and the market outlook faces more uncertain.