Petroleum products see successive price increases; the plastic spot market is on the rise

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I. Status of production as of March 17: The PP resources from Lanzhou Port Petrochemical are centrally allocated within the Northwest Company, with the Lanzhou Port plant producing polypropylene chips BH. On March 17, the price increased by 100 yuan per ton; the priced sales within the province for drawn F401 were 7700 yuan per ton, while BH was 7650 yuan per ton. The Dushanzi Petrochemical PP plant produces T30S on Line 1 and EPS30R on Line 2. Resources are centrally allocated within the Northwest Company; inventory levels are average, and sales are satisfactory. The domestic price of T30S has increased by 100 yuan per ton, reaching 7,700 yuan per ton. The current domestic price of EPS30R is 8,700 yuan per ton, while the price of the pipe material DY-ZK0640P is 8,800 yuan per ton. The PP unit at Qiange Refinery produces T022; the latest price at time of shipment on March 17 is as follows: the price for T022 in the three provinces of Shandong is 7,600 yuan per ton, 7,400 yuan per ton in the Shandong region, and 7,300 yuan per ton in the East China region. Film-forming material from the PP unit at the Jinan Refinery. On March 17, prices continued to rise by 100 yuan: the drawn T30S is now 7,600 yuan per ton ； Fiber Z30S is priced at 7,600 yuan per ton, film material T36F at 7,700 yuan per ton, and H30S at 7,700 yuan per ton ； W28 is 7,650 yuan per ton. On March 17, the PP unit at Qilu Petrochemical produced EPS30RA. Pricing for sales: T30S increases by 100 yuan per ton, reaching 7,600 yuan per ton. Copolymerization: EPS30R/EPS30RA increased by 200 yuan per ton, reaching 8,700 yuan per ton; SP179/QP83N increased by 300 yuan per ton, reaching 8,800 yuan per ton. CNPC North China’s LDPE listing prices have increased: F-18D (Daqing) is at 8,710 yuan per ton, while F-18D0 (Daqing) is at 8,660 yuan per ton. 18G is out of stock, as is 1810D. 2426K (Daqing) is at 8,610 yuan per ton, 2426H (Daqing) is at 8,660 yuan per ton, 2426F (Daqing) is at 8,910 yuan per ton, and 2420F (Daqing) is also at 8,910 yuan per ton. Some pricing for Sinopec South China’s HDPE products has been increased: 5000S (Daqing) is priced at 9,050 yuan per ton, 5000S (Lanhua) is also at 9,050 yuan per ton; 2911 (Fushun) is priced at 9,100 yuan per ton, and 2911FS (Fushun) is likewise at 9,100 yuan per ton. Product 60550 is out of stock. 2200J (Jihua) is priced at 9,200 yuan per ton, 5300B (Daqing) is at 8,400 yuan per ton, and 9455F (Jihua) is available in limited quantities at 8,200 yuan per ton. LDPE plant of Qilu Petrochemical produces 2102TN00 ； Priced for sale, with some quotes increased: 2102TN26 at 8,550 yuan per ton, 2102TN00 at 8,800 yuan per ton, and 2100TN00 at 8,950 yuan per ton. II. Plant status as of March 17: The Dalian West Pacific PP plant began shutdown for maintenance on March 17, with the maintenance expected to last around half a month. The Fushun Petrochemical PP unit is scheduled to produce RF075 on March 17. On March 17, the listing price remained stable; manufacturers had average inventory levels, and sales were normal. Jiujiang Petrochemical’s PP plant is scheduled to switch to producing T36F on March 17. It will go on sale at a fixed price on March 17; the manufacturer has limited stock, and sales are fair. The production ratio of drawn products to film materials at Jiujiang Petrochemical is approximately 1 to 5. Due to planned maintenance on the small ethylene cracking unit, the LDPE/HDPE unit at Daqing Petrochemical will be shut down for maintenance starting from the 16th for approximately 10 days. The LLDPE plant produces 7042, while the high-pressure plant produces 2426F. The HDPE plant of Qilu Petrochemical produces 6098/2480, the LLDPE plant produces 7042, and the LDPE plant produces 2102TN00. Qilu Petrochemical’s PE inventory is average; it is now being sold at current pricing. III. Observation: In summary, Sinopec and CNPC raised the ex-plant prices of PP/PE today, while international crude oil prices closed slightly higher, creating conditions for an upward trend in the spot market. But the driving force behind the rise is ultimately market speculation; weak demand continues to conflict with rising spot prices. As market inventories accumulate, it is expected that future trends will still be closely linked to the prices of petrochemicals. A sustained increase in petrochemical prices might contribute to an upward trend in the spot market as well.