建信期货聚烯烃日报-20250916

Group 1: General Information - Report title: Polyolefin Daily Report [1] - Report date: September 16, 2025 [2] - Research team: Energy and Chemical Research Team [4] Group 2: Market Quotes - Futures market: Plastic 2601 opened at 7199 yuan/ton, closed at 7232 yuan/ton, up 58 yuan/ton (0.81%); Plastic 2605 opened at 7203 yuan/ton, closed at 7252 yuan/ton, up 67 yuan/ton (0.93%); Plastic 2609 opened at 7230 yuan/ton, closed at 7269 yuan/ton, up 48 yuan/ton (0.66%); PP2601 opened at 6933 yuan/ton, closed at 6966 yuan/ton, up 56 yuan/ton (0.81%); PP2605 opened at 6964 yuan/ton, closed at 6988 yuan/ton, up 56 yuan/ton (0.81%); PP2609 opened at 6944 yuan/ton, closed at 6967 yuan/ton, up 75 yuan/ton (1.09%) [5] Group 3: Market Review and Outlook - Market situation: Futures opened higher, fluctuated and slightly rose. Spot trading atmosphere was not significantly boosted. Upstream maintenance levels exceeded expectations, with more shutdown devices, leading to a decline in upstream capacity utilization and output. New PP production capacity brought supply pressure, and more second - line devices were expected to be put into operation in September. Downstream was in the transition between off - season and peak season, with some demand improvement expected. Cost support was weakening due to the expected increase in crude oil supply [6] - Outlook: The market is in a pattern of both supply and demand recovery. As low - price resources are gradually consumed, the price center is expected to stabilize and rebound [6] Group 4: Industry News - Inventory: On September 15, 2025, the main producers' inventory was 700,000 tons, an increase of 45,000 tons (6.87%) from the previous working day, compared with 740,000 tons in the same period last year [7] - PE market: Prices fluctuated. LLDPE prices in North China were 7080 - 7450 yuan/ton, in East China were 7160 - 7650 yuan/ton, and in South China were 7320 - 7750 yuan/ton [7] - Propylene market: The mainstream price in Shandong was 6580 - 6620 yuan/ton, down 100 yuan/ton from the previous working day. Market supply was increasing, demand was decreasing, and trading volume decreased significantly [7] - PP market: Prices were generally stable with slight increases in some low - price products by 10 - 20 yuan/ton. The mainstream prices of North China, East China, and South China were 6720 - 6870 yuan/ton, 6730 - 6930 yuan/ton, and 6700 - 6930 yuan/ton respectively [8] Group 5: Data Overview - Data presented in figures: L basis, PP basis, L - PP spread, crude oil futures main contract settlement price, two - oil inventory, and two - oil inventory year - on - year increase/decrease rate [14][16][17]