October 23rd, News
1. Mean Difference Change Table
| Average Difference Indicator | Today’s Value (2026.10.22) (CNY/ton) | Yesterday’s Value (2026.10.21) (CNY/ton) | Direction of Change |
|---|---|---|---|
| 5-Day Average Difference (D5) | 0.00 | 0.00 | Unchanged |
| 10-Day Average Difference (D10) | 11.25 | 30.00 | - |
| 20-Day Average Difference (D20) | 269.37 | 288.12 | - |
2. Signal Status Judgment
The current signal is biased towards a downturn with a flat short-term price trend, while the upward momentum in medium to long-term cycles continues to narrow.
3. Trend Direction Conclusion
The trend is range-bound (with a bearish bias). Reason: The changes in the three averages compared to the previous day are not entirely consistent, without a clear unilateral signal of all positive or all negative. The 10-day and 20-day averages have been continuously declining, with only the short-term price remaining stable. Overall, there is a lack of upward momentum, showing characteristics of a volatile and slightly bearish trend.
4. Location and Spatial Reference
PP prices for the recent 60 days, 3 months, and 1-year periods are all in the 5th tier (high), indicating limited room for further increases. The cost of upstream propylene in China is also high, providing some support to PP prices. However, downstream sectors such as non-woven fabrics, home appliances, and auto parts have a moderate acceptance of high-priced PP, leading to a clear supply-demand tug-of-war. There is a need to be cautious about the risk of a price drop from high levels due to any loosening in the supply and demand situation.
5. Trend Chart Display
6. Risk Warning
The above analysis is for reference only and does not constitute trading advice.
