What is the latest price trend of polypropylene (PP) raw materials?

In mid May 2026, the price of polypropylene （PP）raw materials remained at a one-year high, with overall high fluctuations, and the focus is expected to gradually shift downwards in the future

1. Current latest price situation

As of May 11, 2026, the national average price of PP was 9533 yuan/ton, an increase of 100 yuan from before. The L5E89 specification quotation in Shandong Province, East China is on par with the national average price, while the fiber grade Z30S grade has a higher price, reaching 9850 yuan/ton.

The price range of PP in the past three months is between 6640 yuan/ton and 9667 yuan/ton, with an average price of 8516 yuan/ton.

2. Details of recent price trends

Q1 trend: Due to the geopolitical conflict in the Middle East, international oil prices have been pushed up, upstream raw material costs have risen, and PP prices have unilaterally risen strongly. As of March 10th, the national average drawing price reached 8057 yuan/ton, and the daily increase at key nodes has exceeded 1000 yuan.

This week's market trend: The PP2609 contract was first strong and then weak. At the beginning of the week, it was boosted by the return to the market after the May Day holiday, high crude oil prices, and tight supply, and rose to 8986 yuan/ton. Subsequently, due to the expectation of easing tensions in the Middle East, the decline in crude oil prices, and the suppression of high prices, the futures price fell back to 8557 yuan/ton on Friday, with a weekly decline of 3.0%; During the same period, the spot price for wire drawing in East China ranged from 9400-9550 yuan/ton, and spot transactions were mainly for essential needs, with weak trading of high priced orders.

3. Prediction of future trends

The significant increase in PP prices in the first half of the year is difficult to sustain, and the overall trend will maintain high volatility, with the price center gradually shifting downwards

-Weakening support: The concentrated release of global new production capacity will ensure sufficient supply, and the cost support role of upstream raw materials such as crude oil will gradually weaken

-Mild demand: The recovery pace of downstream demand is relatively slow, and the price of general polypropylene is under greater pressure. High end specialty polypropylene has stronger toughness

-Short term market trend: It will continue to fluctuate within the high range, and it is necessary to focus on tracking the fluctuations in crude oil prices, the progress of downstream demand recovery, and the restart of maintenance facilities.