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Polyethylene PE: The two oils continue to go to the warehouse, and the spot has partially made up for the increase, and high-priced transactions are relatively slow

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April 9, 2024, 5:20 PM

Sinopec Inventories: The polyolefin inventory of the two oils was 865,000 tons, a decrease of 20,000 tons from yesterday.

Shenhua auction statistics: Today's auction volume is 1050 tons, and today's transaction volume is 700 tons. The auction transaction rate is 66.67%, down 0.95% from yesterday's 67.62%. High-pressure auction volume today was 65 tons, and today's transaction volume was 34 tons.

plate number

storage points

auction volume

trading volume

starting price

trading range

transaction rate

7042

Baotou Coal Chemical Industry Warehouse

100

100

8250

8280-8290

100.00%

7042

Tongdayuan

300

300

8300

8380-8390

100.00%

7042

Ningmei Wuhan Wutieku

300

0

8270

-

0.00%

7042

Ningmei Zhejiang Jianfengku

50

0

8410

-

0.00%

7042

Ningmei Qingzhou Sinotrans Warehouse

300

300

8300

8300

100.00%

line total

1050

700

 

 

66.67%

2420 starting materials

Yulin Chemical Industry Warehouse

65

34

8800

8800

52.31%

High Pressure Total

65

34

 

 

52.31%

 

PE spot market analysis: Today, China's PE market fluctuated and rose, with some increases ranging from 20 to 70 yuan/ton. In terms of price: China's linear mainstream prices range from 8,230 to 8,620 yuan/ton, high-pressure prices range from 9,250 to 9,550 yuan/ton, low-pressure film materials range from 8,300 to 8,700 yuan/ton, and low-pressure wire drawing range from 8,350 to 8,800 yuan/ton. Futures 'gains slowed down, but some petrochemicals were still raised, mainly by PetroChina Resources. The linear majority of coal companies rose by 20-50 yuan/ton, and the cost boost was still obvious. Traders wait and see shipments, but after the rise, transactions at new prices have been slow to follow up. The overall trading performance is average, and transactions at high prices are relatively slow.

PE spot trend forecast: In terms of raw materials: crude oil will further set a new high, and the oil distribution market will enter the US$86 -95 region. The shift in the focus of raw materials has driven up the cost of polyethylene production. Petrochemical policy: Currently, petrochemicals continue to go to the warehouse. Although the performance of the two cities is still acceptable, major regions are still moving upward, and the cost of on-site supply is strongly supported. Supply: Lianyungang Petrochemical, Jiutai, Zhongke Refining and Chemical, Hainan Refining and Chemical, and Zhejiang Petrochemical have been suspended until April and May. Recently, new units such as Zhongyuan Petrochemical and Maoming Petrochemical have continued to be suspended for maintenance, and the market supply continues to shrink. In terms of demand, the overall downstream demand is relatively stable, with small overall variables. Under the comprehensive influence, it is expected that the PE market will remain a volatile and strong market, but there is relatively limited room for continued upward. Focus on the market trend and spot transactions.

 

Mainstream quotation in PE market: yuan/ton

varieties

regional

April 8

April 9

rise and fall

linear

North China

8330-8350

8330-8350

0/0

East China

8200-8350

8230-8380

30/30

South China

8330-8580

8350-8620

20/40

high-pressure membrane

North China

9250-9280

9250-9300

0/20

East China

9250-9500

9250-9550

0/50

South China

9350-9500

9350-9500

0/0

low-pressure membrane

North China

8300-8450

8300-8450

0/0

East China

8400-8700

8400-8700

0/0

South China

8400-8580

8400-8580

0/0

low pressure wire drawing

North China

8280-8550

8350-8550

70/0

East China

8450-8700

8450-8700

0/0

South China

8500-8800

8500-8800

0/0

 

Analysis of PE futures: On April 9, the opening price of L2409 was 8370, the highest price was 8406, the lowest price was 8356, the position was 308355 lots, the settlement price was 8381, yesterday's settlement: 8352, the increase: 29, and the daily trading volume: 176686 lots.


 China's PE Index: According to Tdd-global's data, on April 9, China's LLDPE spot index was 8377, up 20, or 0.24%; the LDPE film spot index was 9367, up 12, or 0.13%; the HDPE spot index was 8515, up 6, or 0.07%.