建信期货聚烯烃日报-20250904

Group 1: General Information - Report title: Polyolefin Daily Report [1] - Date: September 4, 2025 [2] - Research team: Energy and Chemical Research Team [4] Group 2: Market Quotes - Futures market quotes: Plastic 2601 opened at 7252 yuan/ton, closed at 7247 yuan/ton, down 14 yuan/ton (-0.19%); Plastic 2605 opened at 7238 yuan/ton, closed at 7240 yuan/ton, down 19 yuan/ton (-0.26%); Plastic 2509 opened at 7200 yuan/ton, closed at 7185 yuan/ton, down 22 yuan/ton (-0.31%); PP2601 opened at 6943 yuan/ton, closed at 6954 yuan/ton, up 1 yuan/ton (0.01%); PP2605 opened at 6952 yuan/ton, closed at 6965 yuan/ton, down 6 yuan/ton (-0.09%); PP2509 opened at 6861 yuan/ton, closed at 6860 yuan/ton, down 7 yuan/ton (-0.10%) [5] Group 3: Market Review and Outlook - Market performance: L2601 opened lower, fluctuated downward during the session, and finally closed at 7247 yuan/ton, down 14 yuan/ton (-0.19%); PP2601 closed at 6954 yuan/ton, up 1 yuan/ton (0.01%) [6] - Market sentiment: Futures opened lower and fluctuated downward, dampening market trading sentiment. Traders quoted prices according to the market, and end - users replenished stocks at low prices [6] - Supply and demand analysis: For PP, the impact of maintenance is weakening, new capacities are continuously released, and the supply pressure is increasing. The downstream is in the transition stage between peak and off - peak seasons, and the overall recovery trend is not good. For PE, the supply - demand contradiction is not obvious, and plastics may run stronger [6] Group 4: Industry News - Inventory: On September 3, 2025, the inventory level of major producers was 680,000 tons, a decrease of 20,000 tons (-2.86%) from the previous working day, compared with 750,000 tons in the same period last year [7] - Price trends: PE market prices were mainly stable; the mainstream price of propylene in Shandong market was 6610 - 6650 yuan/ton, down 15 yuan/ton from the previous working day; PP market prices were partially loose [7] Group 5: Data Overview - Multiple figures related to the polyolefin market are presented, including L - PP spread, crude oil futures settlement price, L and PP basis, two - oil inventory and its year - on - year change [15][17][18]