果酱视频

Prices of Asian Polypropylene Glass-Filled (PP-GF) compound in April 2025 held relatively steady on the back of modest feedstock cost increases with weak demand and rising trade uncertainty. The upward movement of upstream propylene and crude values supported PP-GF compound prices even as downstream processing from major industry sectors such as automotive, electronics, and appliance industries demonstrated tepid gains.

From the upstream side, Crude oil prices recovered in April after falling in the earlier months due to the increased determination of OPEC+ to reduce production and tensions in Eastern Europe. The recovery of crude slightly impacted the prices of propylene, prime feedstocks for the production of PP. While domestic propane prices increased in line with the decoupling of global trade, demand for propylene downstream was soft. Most Propane Dehydrogenation (PDH) facilities in China experienced cost pressure and reduced operations, limiting PP supply and contributing to PP-GF compound prices marginally.

In terms of production, Chinese average plant operating rates declined to 78% in late April, down by 1% from mid-month. Maintenance outages at large producers such as Zhongshan Tianjin and Changling Petrochemical constrained supply, while pre-announcement of upcoming shutdowns by Zhejiang Petrochemical and Yulin suggest a further continuation of the trend. The ensuing tight supply provided price support to PP-GF compound, which generally commands a premium over normal PP grades because of its improved performance in high-end applications.

Demand-side fundamentals were still weak in the PP-GF compound market. The growing US-China trade war, where tariffs up to 145% on Chinese imports loomed over the country's manufacturing horizon. China's official Purchasing Managers' Index (PMI) declined in April, signaling a downturn in the country's manufacturing sector. Export orders plunged sharply, and new orders decreased for a second straight month. Chinese private manufacturing activities also fell in April, indicative of strain on smaller export-oriented firms that are major PP-GF compound consumers.

Though automotive and electronics production should lead the demand for PP-GF compound, poor global confidence and disrupted logistics prompted cautious purchasing. Purchasers concentrated on addressing current orders with small-volume purchases rather than bulk buying.

In summary, April closed with PP-GF compound prices in Asia having limited volatility as pressure from feedstock costs counteracted demand weakness. With ongoing global trade disruption, market players are likely to follow a wait-and-watch policy going into May.

As per 果酱视频, the balance in the PP-GF compound market may remain weak between the support from the cost of the feedstock and quiet demand. Supply-side pressure from the maintenance of plants and recent increases in upstream costs might shield the prices against plunging substantially. Yet at play will necessarily remain tariff uncertainties as well as indecisive export prospects for the stifling sentiment.