Shanghai Daoqin Plastics Co., Ltd.

        7 month 以, PP market overall performance low. currently, PP market wire drawing price 8700~9000元(吨价, lower 同), low copolymer price 8800~9100元. rear 市 看, in more good belt/tape lower, PP market has 望开启涨势.

        首先, demand has toward good.

         front 期PP demand low and environmental protection has 关. year 5 month, in 央生态 ring 境保护督察组 separation toward 辽宁, 吉林, 山西, 陕西, and other 10省反馈“回头看”督察意见. 第二轮 in 央生态 environmental protection positive in 进行, 7 month in 旬开始, 8 督察组陆续进驻 Shanghai, 福建, and other 6 省份 and China 五矿, China chemical industry 2家央企. 自5 month environmental protection for PP lower production formed effect/influence, lower 游塑编, BOPP industry construction start rate drop 至5~6 formed.

        不, environmental protection 督察告一段落, add upper 夏季限 electrical policy 松绑, 8 month in lower 旬PP lower demand has good 转, construction start rate will improves. add upper 传统 “金九银十” demand to, lower semi year 终端消费趋旺 will 刺激PP market market trends toward good. in addition, waste classification in full scope/range inner 推广, plastics products industry 出现淡季转旺 phenomenon, this to PP market belt/tape good, has in month demand high 峰.

         its 次, cost relatively strong/high.

        6 month 份以, in 东 区伊朗形势紧张 add 剧, OPEC国家继续延 long decrease agreement, 国际油价 significantly elastic. 截至7 month 底, WTI油价收于58.05美元/桶, 布伦特油价收于64.72美元/桶. 近期API公布 report 称, API原油库存 again degree large drop, meanwhile 精炼油 and 汽油库存也 di di decrease/reduce. 截至7 month 底, USA 原油库存 decrease/reduce 602.4万桶, 至4.43 100 million 桶.

         rear 市 看, 霍尔木兹海峡面临威胁, and UK for and USA and Europe meanwhile in 波斯湾巡逻 measures, can can again 次引发紧张局势, 导致国际油价处于 versus for high 位, to PP以 cost 支撑.

         again 次, rear 期检修 relatively more.

        二季 degree 以, inner PP检修 plant/unit increase, construction start rate decline. although 6 month construction start rate degree heavy 回90% above, 但7 month 以 检修 enterprise again increase more, especially is 7 month in lower 旬独山子, 神华榆林 and other in 检修, make inner PP plant/unit construction start rate drop 至86%附近.

         rear 期 看, 8 month large 庆炼化, can 化, new and other more sleeve/set large production capacity plant/unit still has plan;九十 month also has 神华包头, 广州石化 plant/unit plan 检修, add new expand can plant/unit 暂时无 method amount 产, 9 month front PP supply pressure large, market price has rise.