PP：现货小跌，成交清淡

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The domestic PP market showed a weak and narrow adjustment, with some prices dropping by 20 - 30 yuan/ton. The futures were mainly in a low - level oscillation, suppressing the spot market trading atmosphere. Due to the off - season of demand, downstream new orders were insufficient, and the purchasing enthusiasm was poor, resulting in overall poor trading in the market [2]. 3. Summary by Related Catalogs 3.1 PP Fundamental Data - Futures Information: The closing price of PP2509 yesterday was 7067, with a daily decline of 0.13%. The trading volume was 229,429, and the position decreased by 2340 [1]. - Price Spread Information: The basis of the 09 contract was - 57 (compared to - 19 the previous day), and the price spread between the 09 - 01 contracts was 0 (compared to 15 the previous day) [1]. - Important Spot Price Information: In the North China region, the spot price range was 7020 - 7100 yuan/ton (compared to 7000 - 7100 yuan/ton the previous day); in the East China region, it was 7010 - 7160 yuan/ton (compared to 7050 - 7180 yuan/ton the previous day); in the South China region, it was 7020 - 7200 yuan/ton (compared to 7050 - 7220 yuan/ton the previous day) [1]. 3.2 Spot News - The domestic PP market was weakly adjusted, with some prices falling. The futures' low - level oscillation dampened the spot market trading atmosphere. Traders sold goods as usual, and some quotes were slightly weaker to promote transactions. Downstream demand was weak due to the off - season [2]. 3.3 Trend Intensity - The PP trend intensity was 0, indicating a neutral trend [2].