塑料PP每日早盘观察-20260224

1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The L main 2605 contract is recommended for observation, focusing on the support at the previous low of 6600 points; the PP main 2605 contract is recommended for a small - scale short - trial, and a stop - loss should be set at the recent low of 6620 points. For arbitrage and options, the recommendation is to observe [2] 3. Summary According to Relevant Catalogs Market Situation - L plastic: The L main 2605 contract closed at 6644 points, down 90 points or 1.34%. The LLDPE market price was stable, and it was a market with prices but no transactions before the festival. The mainstream transaction prices in North China were in the range of 6520 - 6900 yuan/ton, and in East China, they were in the range of 6620 - 7000 yuan/ton [1] - PP polypropylene: The PP main 2605 contract closed at 6568 points, down 80 points or 1.20%. The domestic PP market price changed little before the festival. In North China, the price of PP continued to consolidate, and the mainstream transaction price of drawstrings was in the range of 6460 - 6570 yuan/ton, unchanged from the previous trading day [1] Important Information - The Waste Technical Adaptation Committee of the EU's "Single - Use Plastics Directive" approved a draft implementation act, clarifying the accounting rules for recycled polyethylene terephthalate (PET) in the minimum recycled content indicator of plastic beverage bottles. The current minimum recycled content requirement for EU plastic beverage bottles is 25%, which will be increased to 30% in 2030. The draft has two major adjustments: allowing the use of a certified mass - balance method and including chemically recycled PET in the recycled content indicator statistics; and stipulating that as of November 2027, recycled PET produced outside the EU cannot be included in the minimum recycled content indicator of PET beverage bottles. These measures are expected to protect EU PET bottle producers and encourage investment in relevant production facilities [1] Logical Analysis - As of before the festival, the registered warehouse receipts of the DCE L contract remained at 0.94 million tons, a year - on - year increase of 43.2%; the registered warehouse receipts of the DCE PP contract increased by 6.6% to 1.87 million tons, a year - on - year increase of 94.2%. In January, the monthly maintenance loss of LLDPE increased to 134,000 tons, a year - on - year increase of 37.1%, which is favorable for L [2] Trading Strategy - Unilateral: Observe the L main 2605 contract and focus on the support at the previous low of 6600 points; for the PP main 2605 contract, conduct a small - scale short - trial and set a stop - loss at the recent low of 6620 points [2] - Arbitrage (long - short): Observe [2] - Options: Observe [2]