China domestic PP granule market rose up first and then declined, with price peaked in early March

In the first half of the year, the core of the market mainly lay in the sharp rise and fall of crude oil under the influence of geographical politics (the conflict between Russia and Ukraine at the end of February and the beginning of March) and the disturbance of the epidemic, while in the second half of the year, it is more reflected in the game of supply and demand within the industrial chain under the epidemic.

At the end of February, the conflict between Russia and Ukraine escalated, and the commodity futures and stock market went up significantly. PP also reached the highest level of the year, of which the homo PP raffia price reached 9,550-9,600yuan/mt. Then, the market sentiment returned to rationality, and spot prices also gradually retreated.