Polyethylene PE: Fear of falling is on the rise, spot prices are declining, and Shenhua's transaction rate drops to a new low in the month

Sinopec Inventories: The polyolefin stocks of the two oils were 860,000 tons, a decrease of 5,000 tons from yesterday.

Shenhua auction statistics: Today's auction volume is 1050 tons, and today's transaction volume is 300 tons. The auction transaction rate is 28.57%, down 38.1% from yesterday's 66.67%. High-pressure auction volume today was 139 tons, and today's transaction volume was 0 tons.

PE spot market analysis: Prices in China's PE market have loosened today, and some offers have dropped slightly by 20-50 yuan/ton. In terms of price: China's linear mainstream prices range from 8,230 to 8,600 yuan/ton, high-pressure prices range from 9,250 to 9,550 yuan/ton, low-pressure film materials range from 8,250 to 8,700 yuan/ton, and low-pressure wire drawing range from 8,300 to 8,800 yuan/ton. Futures operate weakly during the day and remain green most of the time, suppressing confidence in the spot market. Moreover, in recent days, it has been difficult to increase the volume of high-priced transactions. Some traders have become more afraid of falling in the market and have given concessions to ship goods. However, lower prices did not translate into improved transactions. Intraday trading remained weak, and Shenhua's auction transaction rate fell to a monthly low.

PE spot trend forecast: In terms of raw materials: The upward momentum of crude oil will continue to weaken, and the short-term market will be adjusted. Petrochemical policy: Currently, petrochemicals continue to go to the warehouse, but due to poor high-priced shipments and a downward trend in the market, the possibility of the two oils continuing to increase is reduced. Some petrochemicals began to cut prices in the afternoon, and the cost-driven shift from strong to weak. 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 volatile, absorb previous gains, and pay attention to the market trend and spot transactions.

Mainstream quotation in PE market: yuan/ton

Analysis of PE futures: On April 10, the opening price of L2409 was 8387, the highest price was 8395, the lowest price was 8332, the open position was 330668 lots, the settlement price was 8359, yesterday's settlement: 8381, down: 22, and daily trading volume: 234829 lots.

China's PE Index: According to Tuduo's data, China's LLDPE spot index on April 10 was 8367, down 10, or 0.12%;LDPE film spot index was 9363, down 4, or 0.04%;HDPE spot index was 8511, down 4, or 0.05%.