PP：价格小跌，低位成交较好

Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Core View of the Report - The domestic PP market has slightly declined, with prices dropping by 10 - 50 yuan/ton. The continuous decline in crude oil prices during the holiday and the low - level oscillation of PP futures have dampened the trading sentiment in the spot market. Traders are still bearish on the future, actively selling goods, and some offer prices have slightly decreased to promote transactions. Downstream demand is weak, and the overall trading atmosphere is average, but low - price transactions in some regions are acceptable. The PP trend strength is 0, indicating a neutral trend [2]. 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - Futures Data: The closing price of PP2509 yesterday was 6995, with a daily decline of 0.95%. The trading volume was 273,032, and the open interest increased by 35,248. The 09 - contract basis was 105 (compared to 129 the previous day), and the 09 - 01 contract spread was 96 (compared to 58 the previous day) [1]. - Spot Price: In the North China region, the spot price yesterday was 7040 - 7290 yuan/ton (compared to 7080 - 7300 yuan/ton the previous day); in the East China region, it was 7100 - 7250 yuan/ton (compared to 7170 - 7300 yuan/ton the previous day); in the South China region, it was 7150 - 7360 yuan/ton (compared to 7180 - 7380 yuan/ton the previous day) [1]. 3.2 Spot News - The domestic PP market has slightly declined, with prices dropping by 10 - 50 yuan/ton. The continuous decline in crude oil prices during the holiday and the low - level oscillation of PP futures have dampened the trading sentiment in the spot market. Traders are still bearish on the future, actively selling goods, and some offer prices have slightly decreased to promote transactions. Downstream demand is weak, and the overall trading atmosphere is average, but low - price transactions in some regions are acceptable [2]. 3.3 Trend Intensity - The PP trend strength is 0, indicating a neutral trend. The trend strength ranges from - 2 to 2, with - 2 being the most bearish and 2 being the most bullish [2].