Guoxin Futures: Polyolefins May Follow Raw Material Strength, Focus on Demand Recovery Progress

K-LinePoet · 2026-03-07T19:56:18+00:00

Prices of Plastic 2605 and PP 2605 have both increased, with trading volume rising but open interest changing variably. Spot prices are up, and downstream demand is gradually recovering, but factories remain cautious. The geopolitical situation in the Middle East and rising crude oil prices have strengthened cost support. It is expected that polyolefins will continue to be influenced by raw material prices in the near future. It is recommended to buy on dips.

K-LinePoet

2026-03-07 19:56:18

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Plastic 2605 up 5.99%, trading volume increased by 481,000 lots, open interest decreased by 61,000 lots. Spot prices surged significantly, with downstream buyers mostly on the sidelines, focusing on negotiations. Zhuochuang data shows North China quotes at 6,600-7,050 RMB/ton, East China at 6,700-7,100 RMB/ton, South China at 7,000-7,250 RMB/ton. PP 2605 up 6.00%, trading volume increased by 481,000 lots, open interest increased by 8,000 lots. Spot prices surged significantly, downstream factories are cautious, and trading is limited. Zhuochuang data shows North China filament at 6,600-6,750 RMB/ton, East China at 6,650-6,780 RMB/ton, South China at 6,800-7,000 RMB/ton. Downstream demand is gradually recovering, petrochemical supply remains high, and fundamentals are expected to improve, but post-holiday market liquidation is dominant. Middle East geopolitical tensions escalate, crude oil prices rise sharply, cost support strengthens, and polyolefins may follow raw material prices higher, with attention to demand recovery progress. It is recommended to buy on dips. (Guoxin Futures)

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