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[polypropylene]
From the perspective of valuation, the profit of propylene monomer polymerization is on the low side.Pennpursuit33000At the same time, the price difference between drawing and copolymerization fell slightly from the high position, and the overall valuation of polypropylene was neutral.
From the point of view of supply and demand, the domestic operating rate of polypropylene has dropped by 0% month on month this week.Pennpursuit33000.30% to 74.50%, close to the level of the same period last year; the proportion of wire drawing production dropped to 26.87%. Overall, the supply pressure of polypropylene in China has declined slightly.
On the demand side, the average start-up of the polypropylene downstream industry showed a downward trend this week, with the downstream comprehensive start falling 0.24 percentage points to 52.16%, 5.56 percentage points higher than the same period last year.
In terms of inventory, the total commercial inventory of polypropylene this week was 759900 tons, down 200 tons from the previous period; of which the total inventory of production enterprises was 558700 tons, up 6400 tons; the inventory of sample traders fell 6800 tons, down 4.58% from the previous month; and the inventory of the sample port warehouse increased by 100 tons over the previous period, up 0.17% from the previous period.
To sum up, the supply and demand side of polypropylene is neutral. Strategically, it is recommended to pay attention to plastic cover trading opportunities. For reference only.
[rubber]
During the May Day holiday, U. S. economic data released, interest rate cuts are expected to move forward slightly, the dollar has cooled. On the first day of trading, crude oil fell with the outer plate, the chemical industry followed, and the rubber plate held steady as a whole.
Industry data. According to Qinrex, U. S. tire imports totaled 68.36 million in the first quarter of 2024, up 22% from a year earlier. From January to March, the number of tyres imported by the United States from China totaled 6.53 million, down 26 percent from the same period last year. Among them, passenger tires fell 27% year-on-year to 410000, and passenger car tyres dropped 19% to 460000. From January to March, the number of tyres imported by the United States from Thailand totaled 16.91 million, up 55 per cent from a year earlier. Among them, the number of passenger tires was 10.42 million, an increase of 50 per cent over the same period last year, while that of passenger cars was 4.65 million, an increase of 56 per cent over the same period last year. (note: Thailand and China are the main importers of American tyres. )
According to the weather forecast, there will be rain in Yunnan at the end of early May and the beginning of May. Pay attention to the price and quantity of raw materials. On the other hand, cis-polybutadiene continues to pay attention to the supply of raw material butadiene and the removal of existing inventory of cis-polybutadiene.
On the transaction, the monthly level is treated as the idea of selling short every high. The viewpoint is for reference.