塑料PP每日早盘观察：塑料L及PP：多单持有-20251028

Report Industry Investment Rating No relevant information provided. Core Views of the Report The report comprehensively analyzes the market conditions, important information, logic, and trading strategies of plastics (L) and polypropylene (PP) from September 19 to October 28, 2025. The market prices of L and PP fluctuate, affected by factors such as policy, production capacity, inventory, and international events. The trading strategies include holding long or short positions, trial trading, and waiting and seeing, depending on different market situations and data analysis. Summary by Relevant Catalogs Market Conditions - L Plastic: The price of L2601 contract fluctuates, and the LLDPE market price in different regions shows partial increases, decreases, or stable trends. The trading atmosphere in the market is generally cautious, with downstream procurement mainly based on demand [1][4][8]. - PP Polypropylene: The price of PP2601 contract also fluctuates, and the PP market price shows large - scale stability with small fluctuations. The impact of futures on the spot market is complex, and downstream procurement is relatively cautious [1][4][8]. Important Information - Policy: The Ministry of Industry and Information Technology and other seven departments issued the "Work Plan for Stable Growth of the Petrochemical and Chemical Industry (2025 - 2026)", aiming to achieve an average annual increase of over 5% in industry added value from 2025 to 2026 [4]. - International Events: Events such as the US government shutdown, Trump's threat to impose new tariffs on China, and the reorganization plan of chemical companies have an impact on the market [15][18]. - Industry Development: Projects such as the successful commissioning of Liaoyang Petrochemical's 100,000 - ton/year nylon 66 project and the release of the group enterprise reorganization plan of Daicel and Polyplastics have implications for the industry [18][21]. Logic Analysis - Supply - related Factors: Factors such as changes in domestic PE and PP production capacity utilization rates, registered warehouse receipts, and net imports affect the market. For example, an increase in production capacity utilization rates may lead to an increase in supply and put pressure on prices [2][5][9]. - Demand - related Factors: Indicators such as the manufacturing PMI, the US manufacturing PMI, and the logistics industry prosperity index reflect the demand situation and have an impact on the market [16][26][30]. - External Factors: Fluctuations in international oil prices, changes in the global economic policy uncertainty index, and changes in the freight index also affect the market [13][16][42]. Trading Strategies - Single - side Trading: Strategies include holding long or short positions, trial trading, and waiting and seeing, with specific stop - loss points set according to market conditions [2][5][9]. - Arbitrage (Long - Short): Most of the time, it is recommended to wait and see, and in some cases, hold or intervene in positions with corresponding stop - loss settings [2][5][9]. - Options: Generally, it is recommended to wait and see, and in some cases, sell options with stop - loss settings [2][5][9].