建信期货聚烯烃日报-20260120

Report Information - Report Name: Polyolefin Daily Report [1] - Date: January 20, 2026 [2] Investment Rating - Not provided Core Viewpoint - Polyolefins showed a weak correction due to the marginal weakening of cost support and their own supply - demand structure. Polypropylene's supply pressure was relieved due to increased temporary maintenance, but it would increase slightly next week. The overall supply pressure of plastics increased month - on - month. Downstream demand was weak, with high - price resistance increasing, and some small - scale enterprises might reduce production or start holidays early. [6] Summary by Directory 1. Market Review and Outlook - LianSu L2605 opened lower, fluctuated down during trading, and closed down at 6,667 yuan/ton, a decrease of 62 yuan/ton (-0.92%), with a trading volume of 410,000 lots and an increase in positions of 13,977 lots to 485,464 lots.PP2605 closed at 6,482 yuan/ton, a decrease of 54 yuan (-0.83%), with a decrease in positions of 15,239 lots to 470,500 lots. [6] 2. Industry News - On January 19, 2026, the inventory level of major producers was 560,000 tons, an increase of 70,000 tons (14.29%) compared with the previous working day. The inventory in the same period last year was 530,000 tons. [7] - Most PE market prices fell, and the PP market was running weakly. The mainstream price of propylene in the Shandong market remained unchanged at 6,120 - 6,170 yuan/ton compared with the previous working day. [7] 3. Data Overview - The report presented multiple data charts, including L basis, PP basis, L - PP spread, crude oil futures settlement price, two - oil inventory, and two - oil inventory year - on - year increase/decrease rate. [9][12][15]