The supply chain nightmare that plagues the global shipping industry is likely to last until 2022. Although the freight rate has dropped significantly recently, the port congestion problem that is difficult to alleviate and the strong market demand in the future will support the freight rate.

On the first day of construction, PP rose strongly. Can the "good start" market continue?

The price of upstream crude oil fell, which dampened the trading confidence of market participants. Yesterday, the main contract of PP futures fluctuated and closed down. It is expected that the consolidation trend will continue in the short term, which will weaken the boosting effect on the spot market. The petrochemical inventory level is acceptable, the ex-factory price is stable and the cost side support is stable. In terms of spot, the current on-site trading is not very active, some market players are still in a closed state, and the on-site trading situation is dull, which restricts the spot price.

Based on the above analysis, the optimistic market of PP will be difficult to sustain in the short term. It is expected that the PP market will be weak today. Taking East China as an example, it is estimated that the wire drawing operation range is 8750-8850 yuan/ton.

Influencing factors?

PP futures surged back, and the domestic PP market was mostly loose, with the range of 50- 100 yuan/ton. The international oil price has fallen, the cost of related products has loosened, the futures trend has weakened simultaneously, and the spot chasing sentiment has obviously weakened. In addition, some downstream factories in the market have not yet returned to the market, the on-site inquiry is general, the firm offer is flat, the trader's quotation follows the fluctuation, and some price centers have fallen back.

Market outlook forecast?

It is expected that the PP market will be weak today. Taking East China as an example, it is estimated that the wire drawing operation range is 8750-8850 yuan/ton.