塑料PP每日早盘观察-20251107

Report Industry Investment Rating No relevant content provided. Core Viewpoints The report analyzes the market conditions, important news, logical analysis, and trading strategies of plastic L and PP on a daily basis. Overall, the market shows a weak trend, with prices mostly falling. The trading strategies mainly involve holding short - positions for the main contracts of L and PP, with appropriate adjustments to stop - loss points according to market changes. [1][5][8] Summary by Related Catalogs Market Conditions - L Plastic: The L2601 contract generally shows a downward trend, with prices fluctuating. The LLDPE market price mostly declines, and the trading atmosphere is weak. Downstream demand is not strong, and traders often reduce prices to sell goods. For example, on November 7, 2025, the L2601 contract closed at 6802 points, down 3 points or 0.04%, and the LLDPE market price continued to fall [1]. - PP Polypropylene: The PP2601 contract also mostly shows a downward trend. The PP market price is weak, and the cost support is weakened. Downstream procurement is cautious, and the market trading volume is limited. For example, on November 7, 2025, the PP2601 contract closed at 6459 points, down 12 points or 0.19%, and the domestic PP market was still weak [1]. Important News - Industry - related Policies and Events: The 7 - department "Petrochemical and Chemical Industry Steady Growth Work Plan (2025 - 2026)" aims to achieve an average annual growth of over 5% in the industry's added value from 2025 to 2026. The US government shutdown has affected data supply, increasing the difficulty of decision - making for central banks [33][55]. - Company - related News: PetroChina Guangxi Petrochemical's 120 - million - ton/year ethylene plant was successfully put into operation, which will promote the development of the petrochemical industry in the southwest region. Zhonghua International focuses on the main business of chemical new materials, and its MIAK project has achieved certain results [8][15]. Logical Analysis - Positive Factors: In September, the domestic pipeline transportation industry's fixed - asset investment completion amount increased by 14.8% year - on - year, with continuous marginal growth for 8 months, which is beneficial to the polyolefin single - side. The EuroCoin index has strengthened for 6 consecutive months, which is also beneficial to the polyolefin single - side [49][30]. - Negative Factors: In October, the domestic manufacturing PMI declined to 49.0%, a year - on - year decline of 2.2%, which is negative for the rubber and plastic single - side. The domestic real estate prosperity index has declined for 6 consecutive months, which is negative for the polyolefin single - side [5][6]. Trading Strategies - Single - side: Most of the time, it is recommended to hold short - positions for the main 01 contracts of L and PP, and adjust the stop - loss points according to market changes. For example, on November 7, 2025, it was recommended to hold short - positions for the L main 01 contract, with the stop - loss point moved down to 6850 points [2]. - Arbitrage (Long - Short): Most of the time, it is recommended to wait and see. - Options: Most of the time, it is recommended to wait and see.