塑料PP每日早盘观察：塑料L及PP：多单减持-20251029

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report The report comprehensively analyzes the market conditions, important information, logical analysis, and trading strategies of L plastic and PP polypropylene from September 19 to October 29, 2025. It provides investment suggestions based on various factors such as price trends, supply and demand, and macro - economic indicators. Summary by Related Catalogs Market Conditions - L Plastic: Prices showed partial fluctuations, with some regions experiencing price increases or decreases. Futures prices also fluctuated, affecting market sentiment and trading volume. For example, on October 29, L2601 closed at 6984 points, down 1 point or - 0.01% [1]. - PP Polypropylene: Market prices were mostly in a state of weak adjustment. Futures prices affected the spot market, and downstream demand was generally cautious. For instance, on October 29, PP2601 closed at 6664 points, up 7 points or + 0.11% [1]. Important Information - Industry Policies: The seven - department issued the "Petrochemical and Chemical Industry Steady Growth Work Plan (2025 - 2026)", aiming for an average annual increase of over 5% in industry added value and promoting high - end, green, and intelligent transformation [8][53]. - Macroeconomic Data: In the first three quarters, China's industrial production grew rapidly, and enterprise efficiency improved. Some industries and products achieved growth, and the export of industrial products accelerated [4]. - International Events: The US government shutdown led to a lack of official data, increasing the difficulty of decision - making for central banks in other countries [30]. Logical Analysis - Supply - related Factors: Factors such as production capacity utilization, net imports, and registered warehouse receipts affected the market. For example, as of August, the labor employment rate and resignation rate in the plastic products industry in Taiwan Province both increased, with the difference showing a narrowing increase, which was negative for polyolefin single - side trading [5]. - Demand - related Factors: Downstream demand, including the demand in the automotive, construction, and other industries, influenced the market. For example, the growth of the global plastic additive consumption was related to the output growth of plastic end - consumption fields [47]. - Macroeconomic Indicators: Macroeconomic indicators such as the EuroCoin index, PMI, and real estate data had an impact on the polyolefin market. For example, in September, the EuroCoin index strengthened for six consecutive months, which was positive for polyolefin single - side trading [5]. Trading Strategies - Single - side Trading: Strategies included holding long or short positions, or taking a wait - and - see approach. For example, on October 29, it was recommended to reduce long positions in L and PP [1]. - Arbitrage Trading: Most of the time, a wait - and - see approach was recommended. For example, on October 29, it was suggested to wait and see for arbitrage trading [2]. - Options Trading: Some contracts were recommended for selling or holding, with stop - loss settings. For example, on October 29, it was recommended to sell and hold the L2601 put 6800 contract and set a stop - loss at the recent high of 34.5 points [2].