Into March , sales of petrochemical production enterprise policy changed greatly , the major domestic petrochemical manufacturers raised by the pre- factory price to continue to cut prices recently . Since late February to early March , petrochemical producers in the short-term pressure on the stock to ease their background , general factory price increase , the major producers PP homopolymer pellets generally raised 200 yuan / ton. However, the contrarian petrochemical manufacturers fail to drive the market to pull up demand for replenishment , the recent rise in petrochemical factory stock again . Under the pressure of high inventory , March 5 beginning of each sales branch of Sinopec , PetroChina East China , South China Petroleum products PP drawing down 100-200 yuan / ton, followed by CNPC north, west , east lower prices 100-150 yuan / ton. Petrochemical producers to raise prices in the short cut prices again after great pressure on the market , the future increase in the price of petrochemical manufacturers in the market if the weak demand , high inventory situation , polypropylene demand will continue to remain on the sidelines terminal , as manufacturers raised prices continuing questioned.
Early petrochemical producers to increase the offer , although factory inventories decreased slightly, but generally more resist the downstream demand side , the market turnover has been relatively light , factory inventories fell more because the stock transfer petrochemical producers to downstream trade channels. However, in the case of termination of poor demand , Wholesale masking tape
traders ultimately can not hold a huge pressure on the stock , only reduce quotes to digest inventory based. Outlook does not exclude petrochemical manufacturers in order to prevent further decline in prices and limit production to take all kinds of measures , but this does not change the downward trend in the price of polypropylene . Because the core elements of the current market price decline is high inventory , weak demand . If petrochemical companies to limit production to maintain current prices , trade channels and petrochemical producers due to a fixed purchase contracts, purchase only passively , but is not optimistic at this stage downstream demand , resulting in the overall stock market remained high , the face of continued higher stocks , traders must sell to a large number of futures markets to hedge against the risk of market prices , resulting in futures prices tumbled .
From a historical situation, in early 2013, with the current market situation is very similar to the end of 2012 polypropylene prices climbing higher and higher , stocks continue to accumulate . But by early 2013 market prices started to weaken , thus giving the destocking period of nearly seven months , the East China market fell to the lowest 10,200 yuan / ton . Also at this stage due to rising prices , lower demand for high resistance, resulting in high inventory , the market had ushered in the inventory cycle , with the decline in prices, getting closer to the psychological level downstream demand side , the terminal needs to increase the final purchase the end of the destocking cycle. Thus , in the case of high current inventory , the market prices will remain downward trend .Washi tape
From 2014 the demand for new capacity and macroeconomic situation, polypropylene prices will face greater pressure than in 2013 . 2014 new capacity will likely reach 600 million tons, much higher than the 1.35 million tons of new capacity by 2013 . It also holds a substantial discount PP1409 contract and continued weakness of the major reasons for the current . Masking tape
With a huge capacity corresponding to the persistent weakness of the demand side . Considering the breadth of PP downstream demand , PMI ( manufacturing purchasing managers index ) can reflect the future needs of polypropylene . February 2014 data from the point of view , the demand outlook is not optimistic . Statistics released in February PMI orders index was 50.5 , since October 2012 the second low , PMI inventory index was 47.4 , the same time low since October 2012 . Previously published HSBC PMI index also showed similar results. This shows that the future market demand is not optimistic. Under weak demand, high inventory situation , polypropylene prices only weak run .Sellotape
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