20231205-国泰期货-PP_弱势格局或未结束_2页_479kb

PP Market Overview: As of December 5, 2023, PP (polypropylene) market shows persistent weakness, driven by falling oil prices and declining futures, which have eroded market confidence.现货数据显示国内PP小幅走低，需求偏弱，成交量略有增加但总体成交重心下滑。

Market Analysis: PP基本面 weakened due to supply cuts (nearly 10% reduction from October's peak), while demand remains weak, with some downstream activity near seasonal highs. However, the market may rebound in the fourth quarter amid hopes for Fed interest rate cuts, though short-term risks include further weakness due to rising carry trades and declining basemarks.

Trend Strength: Current trend strength is -1, classified as weak, indicating a continuing negative bias with no strong signal for reversal.

View and Recommendations: Short-term, the market is likely weak, with interim support at 7300-7350 and resistance at 7600-7650. Traders should watch for potential bullish surprises but prioritize risk management, as intermediate trends may shift to a range-bound pattern.