Report Summary 1. Core View - The domestic PP market showed partial loosening with a range of 20 - 30 yuan/ton. PP futures fluctuated, having limited guidance on the spot market. Most producer prices remained stable, with some slightly decreasing. Traders adjusted their quotes based on inventory and costs, and downstream demand was cautious after restocking at the beginning of the week, resulting in average morning trading [2]. - The PP trend intensity is 0, indicating a neutral outlook [2]. 2. Key Data Futures - The closing price of PP2509 was 7075, with a daily decline of 0.13%. The trading volume was 156,261, and the open interest decreased by 5827 [1]. - The basis of the 09 contract was -75, compared to -8 the previous day. The spread between the 09 - 01 contracts was -31, compared to -42 the previous day [1]. Spot - In North China, the spot price ranged from 6920 - 7050 yuan/ton, compared to 7000 - 7120 yuan/ton the previous day. In East China, it was 7000 - 7130 yuan/ton, compared to 7070 - 7170 yuan/ton. In South China, it was 6950 - 7130 yuan/ton, compared to 7000 - 7200 yuan/ton [1].

Industry Investment Rating - Not provided Core Viewpoints - The domestic PP market was stable with a slight upward trend today, with some prices rising by 20 - 30 yuan/ton. PP futures fluctuated slightly higher, boosting the spot market. Most enterprises kept their prices stable, and the cost support for the supply remained largely unchanged. Traders' attitudes remained stable, and they mainly adjusted their prices according to their inventory and costs. Some offers were tentatively raised. However, downstream industries were operating at a low level, and their purchasing was cautious, resulting in general market trading [2]. - The PP trend strength is 0, indicating a neutral stance [2]. Summary by Relevant Catalogs Fundamental Tracking - **Futures Data**: The closing price of PP2509 was 7095, with a daily increase of 0.37%. The trading volume was 162,173, and the open interest decreased by 1671 [1]. - **Spread Data**: The basis of the 09 contract was -95 (previous day: -94), and the spread between the 09 - 01 contracts was -25 (previous day: -31) [1]. - **Spot Price Data**: In North China, the spot price ranged from 6920 - 7060 yuan/ton; in East China, it was 7000 - 7130 yuan/ton; and in South China, it was 6960 - 7150 yuan/ton [1]. Spot News - The domestic PP market was stable with a slight upward trend today, with some prices rising by 20 - 30 yuan/ton. PP futures had a small upward fluctuation, which had a positive impact on the spot market. Most enterprise prices were stable, and the cost support for the supply did not change much. Traders' attitudes remained stable, and they mainly adjusted their prices according to their inventory and costs. Some offers were tentatively raised. Downstream industries were operating at a low level, and their purchasing was cautious, resulting in general market trading [2]. Trend Intensity - The PP trend strength is 0, with the range of trend strength being integers in the [-2, 2] interval. The classification of strength levels includes weak, slightly weak, neutral, slightly strong, and strong, where -2 represents the most bearish and 2 represents the most bullish [2].

Report Industry Investment Rating - No relevant content provided Core Viewpoints of the Report - The domestic PP market showed a narrow - range consolidation. The slight increase in PP futures boosted the spot market. The factory prices of producers were mostly stable, the cost support of the goods changed little, and the overall market turnover improved slightly compared to the previous day [2] Summary by Related Catalogs Fundamental Tracking - Futures: The closing price of PP2509 was 7160, with a daily increase of 0.18%. The trading volume was 219,303, and the open interest decreased by 17,048 [1] - Spreads: The basis of the 09 contract was - 90 (previous day: - 60), and the spread between the 09 - 01 contracts was - 6 (unchanged from the previous day) [1] - Spot Prices: In North China, it was 7000 - 7120 yuan/ton (previous day: 6980 - 7140 yuan/ton); in East China, it was 7070 - 7170 yuan/ton (unchanged from the previous day); in South China, it was 7000 - 7200 yuan/ton (previous day: 7020 - 7200 yuan/ton) [1] Spot News - The domestic PP market was in narrow - range consolidation. The slight rise in PP futures had a certain boost to the spot market. Producers' prices were mostly stable, and traders priced according to their inventory and cost. Downstream buyers made low - price rigid - demand purchases, and the overall market turnover improved slightly [2] Trend Intensity - The PP trend intensity was 0, with the range of trend intensity being integers in the [-2, 2] interval [2]

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The domestic PP market showed a weak and narrow adjustment, with some prices dropping by 20 - 30 yuan/ton. The futures were mainly in a low - level oscillation, suppressing the spot market trading atmosphere. Due to the off - season of demand, downstream new orders were insufficient, and the purchasing enthusiasm was poor, resulting in overall poor trading in the market [2]. 3. Summary by Related Catalogs 3.1 PP Fundamental Data - **Futures Information**: The closing price of PP2509 yesterday was 7067, with a daily decline of 0.13%. The trading volume was 229,429, and the position decreased by 2340 [1]. - **Price Spread Information**: The basis of the 09 contract was - 57 (compared to - 19 the previous day), and the price spread between the 09 - 01 contracts was 0 (compared to 15 the previous day) [1]. - **Important Spot Price Information**: In the North China region, the spot price range was 7020 - 7100 yuan/ton (compared to 7000 - 7100 yuan/ton the previous day); in the East China region, it was 7010 - 7160 yuan/ton (compared to 7050 - 7180 yuan/ton the previous day); in the South China region, it was 7020 - 7200 yuan/ton (compared to 7050 - 7220 yuan/ton the previous day) [1]. 3.2 Spot News - The domestic PP market was weakly adjusted, with some prices falling. The futures' low - level oscillation dampened the spot market trading atmosphere. Traders sold goods as usual, and some quotes were slightly weaker to promote transactions. Downstream demand was weak due to the off - season [2]. 3.3 Trend Intensity - The PP trend intensity was 0, indicating a neutral trend [2].

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - The domestic PP market fluctuated narrowly, with a range of 10 - 30 yuan/ton. The PP futures main contract underwent a corrective adjustment, suppressing the spot market sentiment. The spot supply was abundant, but downstream new orders were insufficient, and demand was flat. After the decline in the market today, the purchasing willingness of factories further weakened. Traders' quotations remained the same as yesterday, and most real - deals were subject to negotiation. Overall, inquiries were dull, and trading volume was scarce [2] 3. Summary by Relevant Catalogs 3.1 PP Fundamental Data - Futures: The closing price of PP2509 yesterday was 7069, with a daily decline of 0.45%. The trading volume was 241,668, and the open interest decreased by 2015. The basis of the 09 contract was - 19 (previous day: - 92), and the spread between the 09 - 01 contracts was 15 (previous day: 23) [1] - Important Spot Prices: In North China, the price range was 7000 - 7100 yuan/ton (previous day: 7050 - 7150 yuan/ton); in East China, it was 7050 - 7180 yuan/ton (previous day: 7020 - 7180 yuan/ton); in South China, it was 7050 - 7220 yuan/ton (same as the previous day) [1] 3.2 Spot News - The domestic PP market had a narrow - range fluctuation. The futures adjustment affected the spot market. There was an ample supply of spot goods, but downstream demand was weak, and factory purchasing willingness declined [2] 3.3 Trend Intensity - The PP trend intensity was 0 [2]

Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Core View - The domestic PP spot market had a partial small increase of 10 - 20 yuan/ton in the morning. Affected by the macro - atmosphere, the futures market rose with fluctuations, which boosted the spot market. Some producers raised factory prices, strengthening cost support. Traders slightly increased quotes, but downstream factories were reluctant to accept high - priced goods, resulting in flat overall transactions [2]. 3. Summary According to Related Catalogs PP Fundamental Data - **Futures Information**: The closing price of PP2509 yesterday was 7112, with a daily increase of 0.79%. The trading volume was 219,392, and the position changed by 123 [1]. - **Spread Information**: The basis of the 09 contract was - 92 yesterday (compared to - 58 the day before), and the spread between the 09 - 01 contracts was 23 yesterday (compared to 44 the day before) [1]. - **Important Spot Prices**: In the North China region, the price range was 7050 - 7150 yuan/ton yesterday (7000 - 7100 yuan/ton the day before); in the East China region, it was 7020 - 7180 yuan/ton yesterday (7020 - 7150 yuan/ton the day before); in the South China region, it was 7050 - 7220 yuan/ton yesterday (7040 - 7200 yuan/ton the day before) [1]. Spot News - The domestic PP local market had a partial small increase of 10 - 20 yuan/ton in the morning. The futures market's upward fluctuation due to the macro - atmosphere boosted the spot market. Producers' price hikes strengthened cost support, while traders' price increases faced resistance from downstream factories' low acceptance of high prices, leading to flat transactions [2]. Trend Intensity - The PP trend intensity is 0, indicating a neutral trend. The trend intensity ranges from - 2 (most bearish) to 2 (most bullish) [2].

Report Summary 1. Report Industry Investment Rating - No investment rating provided in the report. 2. Report's Core View - The domestic PP market remains weak, with some grades declining by 10 - 50 yuan/ton. PP futures are running at a low level, intensifying the wait - and - see atmosphere in the spot market. The weakening cost support and low - running futures lead to lower offers from traders, and the overall market trading is flat. The PP trend strength is - 1, indicating a bearish outlook [2]. 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - **Futures Data**: The PP2509 contract closed at 7070 yesterday, down 0.59%. The trading volume was 218,846, and the open interest increased by 497. The 09 - contract basis was 0 (previous day: 17), and the 09 - 01 contract spread was 58 (previous day: 62) [1]. - **Spot Price**: In North China, the spot price was 7060 - 7160 yuan/ton (previous day: 7070 - 7160); in East China, it was 7070 - 7250 yuan/ton (previous day: 7120 - 7250); in South China, it was 7120 - 7230 yuan/ton (previous day: 7140 - 7250) [1]. 3.2 Spot News - The domestic PP market continued to be weak, with some grades dropping 10 - 50 yuan/ton. PP futures at a low level increased the wait - and - see mood. Lower prices from some enterprises weakened cost support, prompting traders to offer lower prices. The downstream new orders are limited, and procurement is cautious, resulting in flat trading [2]. 3.3 Trend Intensity - The PP trend intensity is - 1, suggesting a bearish view, with the range of trend intensity being [-2, 2] [2].

Report Industry Investment Rating - No specific investment rating provided in the report Core View - The domestic PP market declined by 10 - 50 yuan/ton. PP futures fluctuated weakly, suppressing the spot market trading atmosphere. Some petrochemical enterprises lowered their factory prices, weakening the cost - side support for goods. Traders focused on shipping, and their quotes slightly loosened to promote transactions. Downstream terminal orders did not follow up well, and the willingness to purchase raw materials was insufficient. The overall real - trading atmosphere was average, but the low - priced resources in some areas had relatively good transactions [2] Summary According to Relevant Catalogs Fundamental Tracking - **Futures Data**: The closing price of PP2509 was 7084, with a daily decline of 0.42%. The trading volume was 268,911, and the open interest decreased by 24,092 [1] - **Spread Data**: The basis of the 09 contract was 46 (previous day: 56), and the spread between the 09 - 01 contracts was 58 (previous day: 47) [1] - **Spot Price Data**: In North China, the spot price was 7060 - 7180 yuan/ton (previous day: 7080 - 7230 yuan/ton); in East China, it was 7130 - 7250 yuan/ton (previous day: 7130 - 7300 yuan/ton); in South China, it was 7150 - 7250 yuan/ton (previous day: 7160 - 7300 yuan/ton) [1] Spot News - The domestic PP market declined by 10 - 50 yuan/ton. PP futures' weak fluctuation suppressed the spot market. Some petrochemical enterprises cut prices, weakening cost support. Traders aimed to sell, and downstream demand was weak, but low - priced resources in some areas had good sales [2] Trend Intensity - The PP trend intensity was 0, indicating a neutral trend [2]

Report Industry Investment Rating - Not provided Core View of the Report - The PP price fluctuates, and the low - level transactions are relatively good. The domestic PP market shows a narrow - range fluctuation, and the futures' shock has limited guidance for the spot market. The upstream petrochemical enterprises have partially lowered their factory prices, and the downstream purchasing is mainly for rigid demand with a mediocre trading atmosphere [1][2] Summary According to Relevant Catalogs Fundamental Tracking - **Futures Data**: The closing price of PP2509 yesterday was 7029, with a daily increase of 0.34%. The trading volume was 321,988, and the open interest decreased by 14,290 [1] - **Spread Data**: The basis of the 09 contract was 141 yesterday (205 the day before), and the spread between the 09 - 01 contracts was 77 yesterday (96 the day before) [1] - **Important Spot Price Data**: In North China, the spot price range was 7050 - 7290 yuan/ton yesterday (7040 - 7290 the day before); in East China, it was 7100 - 7280 yuan/ton yesterday (7100 - 7250 the day before); in South China, it was 7180 - 7370 yuan/ton yesterday (7150 - 7360 the day before) [1] Spot News - The domestic PP market fluctuates within a narrow range of 10 - 30 yuan/ton. The PP futures' shock has limited guidance for the spot market. The upstream petrochemical enterprises have partially lowered their factory prices. The offers from holders are differentiated based on spot supply and order - opening costs. Some tight - supply resources have seen a slight price increase, while the low prices of individual varieties have loosened. The downstream's enthusiasm for purchasing is average, mainly for rigid demand, and the overall trading atmosphere in the market is mediocre [2] Trend Intensity - The PP trend intensity is 0, with the range of trend intensity being integers in the [-2, 2] interval, where -2 means most bearish and 2 means most bullish [2]