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PP：价格小涨，成交较弱
Guo Tai Jun An Qi Huo·2025-05-16 02:41

Report Summary 1) Report Industry Investment Rating - No information about the industry investment rating is provided in the report. 2) Core View of the Report - The domestic PP market shows a narrow - range fluctuation. PP futures' high - level oscillation supports the spot market atmosphere, and some petrochemical companies have slightly increased their factory prices. However, downstream factories are less willing to accept high - priced goods after continuous price increases, and middlemen maintain a wait - and - see attitude after moderate restocking, resulting in mediocre trading before noon [2]. 3) Summary According to Related Catalogs [Fundamental Tracking] - Futures Data: The closing price of PP2509 yesterday was 7161, with a daily increase of 0.18%. The trading volume was 379,584, and the open interest decreased by 5927 [1]. - Spread Data: The basis of the 09 contract was 39 yesterday, compared with - 13 the day before; the spread between the 09 - 01 contracts was 67 yesterday, compared with 57 the day before [1]. - Important Spot Price: In the North China region, the spot price was in the range of 7150 - 7300 yuan/ton yesterday, compared with 7110 - 7320 yuan/ton the day before; in the East China region, it was 7200 - 7350 yuan/ton yesterday, compared with 7180 - 7350 yuan/ton the day before; in the South China region, it was 7220 - 7380 yuan/ton yesterday, compared with 7220 - 7400 yuan/ton the day before [1]. [Spot News] - The domestic PP market has a narrow - range fluctuation. PP futures' high - level oscillation supports the spot market atmosphere, and some petrochemical companies have slightly increased their factory prices. But downstream factories' willingness to accept high - priced goods has weakened, and middlemen maintain a wait - and - see attitude after moderate restocking, resulting in mediocre trading before noon [2]. [Trend Intensity] - The trend intensity of PP is 1, indicating a relatively neutral market sentiment. The trend intensity ranges from - 2 (most bearish) to 2 (most bullish) [2].