Demand: New orders from downstream companies have not seen a significant improvement, and operating loads have increased only slightly compared to the previous period. Supply procurement remains cautious, and short-term demand is providing limited support to the market.
Supply: Recent plant maintenance efforts have eased, and new production capacity at CNPC’s Haidashi plant has been steadily ramping up. This has resulted in ample spot supply in the front-end market, putting pressure on PP prices.
Cost: Market concerns are mounting regarding attacks in Europe, and the prospect of easing oil supply and demand after the summer peak demand season is also keeping buyers cautious. European and American crude oil futures rebounded after falling for most of the session. The slight rise in crude oil prices has slightly strengthened support for PP costs.
Trend Analysis: The PP market is expected to remain weak and narrow today. In the short term, while the slight rise in crude oil prices will slightly strengthen support for PP costs, PP fundamentals remain weak. Furthermore, weak volatility in the night trading session has maintained a wait-and-see attitude within the market. Based on this, a weak and narrow market trend is expected today.
Post time: Aug-29-2025