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PMI in China's manufacturing industry returns to expansion range.Crashtime3downloadUnder the background ofCrashtime3downloadPP demand is expected to be good, output is stable on a month-on-month basis, and the market expects PP prices to rise. It is recommended that investors hold a small amount of pre-PP orders.

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[strategic analysis] under the background of increasing plastic knitting orders and China's manufacturing PMI re-entering the expansion range, demand expectations continue to improve, causing the market to pay close attention to the operating rate of PP. According to analysis, although the elimination of PP finished goods inventory is limited, but in the case of the gradual improvement of supply and demand pattern, the pressure of accumulation is reduced, and it is expected that the removal speed of PP will be accelerated. At the same time, PP's valuation is relatively low, and the market expects PP to still have room to rise. However, due to a certain degree of resistance to high-priced raw materials, pre-single investors may need to be cautious and recommend taking a small position. Downstream construction continues to improve, bringing a positive impact on the demand side of the PP market. Investors should note, however, that although PP's valuation is relatively low, resistance to high-priced raw materials may dampen the market's upward momentum. Therefore, it is recommended that pre-single investors to maintain a cautious attitude, a small number of holdings. The trend of the PP market depends on the changes of both supply and demand. Although the de-stocking of PP finished goods inventory is limited, the PP market is expected to maintain a good de-stocking situation as demand is expected to continue to improve. At the same time, PP is undervalued, so investors can keep an eye on its potential upside. However, investors should pay close attention to the resistance of high-priced raw materials in order to avoid market risk. Overall, under the background of the gradual improvement of the supply and demand pattern in the PP market, investors need to pay attention to the changes in the operating rate of PP and the degree to which high-priced raw materials are resisted by the market. Investors are advised to be cautious and hold a small number of previous orders to avoid the risk of over-investment.