Zhenhai Refining & Chemical operates four PP production lines with a total annual capacity of 1.3 million tons. Currently, all lines are operating at normal load. The ex-factory reference price for drawing grade T30S has been raised by 50 yuan to 6,600 yuan/ton. Spot prices in the market are adjusted according to market conditions, and trading activity remains favorable.
PriceSeek analysis of PP indicates a bullish-bearish score of 1. The article highlights that Zhenhai Refining & Chemical has increased the ex-factory reference price for PP drawing grade T30S by 50 yuan to 6,600 yuan/ton, with production lines operating normally. Spot prices are adjusting to market conditions, and trading activity remains steady. This suggests stable supply and proactive price hikes by producers, reflecting strong demand support or rising costs, which is favorable for PP spot prices. In the short term, the price increase may boost market optimism and support a steady upward trend in spot prices.
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