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Polyethylene PE: Spot prices were mixed. Futures prices jumped short and opened lower on the first day after the holiday, and the market was significantly reduced by more than 20,000 lots

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May 6, 2024, 4:50 PM


Sinopec's inventory: The polyolefin inventory of the two oils was 930,000 tons, an increase of 210,000 tons from the pre-holiday period.

 

Shenhua auction statistics: Today's auction volume is 266 tons, and today's transaction volume is 205 tons. High-pressure auction volume today is 0 tons, and today's transaction volume is 0 tons. Low-pressure today's auction volume is 0 tons, and today's transaction volume is 0 tons.

 

PE spot market analysis: Today, the overall decline of linear and low-pressure film materials in China's PE market is dominated, and high-pressure and low-pressure wire drawing coexist with ups and downs. In terms of price: China's linear mainstream prices range from 8,360 to 8,700 yuan/ton, high-pressure prices range from 9,650 to 9,800 yuan/ton, low-pressure film materials range from 8,330 to 8,750 yuan/ton, and low-pressure wire drawing range from 8,100 to 9,150 yuan/ton. There has been an increase in the supply of goods in the market, with traders mainly transferring profits and shipping goods. However, downstream terminal factories have a strong wait-and-see atmosphere, and the overall market transaction situation is weak, with most transaction prices falling mainly.

 

PE spot trend forecast: In terms of raw materials, crude oil fell significantly on the first day after the holiday, and its support for the polyethylene market was relatively weakened. During the holidays, companies have increased their inventories, and the supply of goods has increased slightly after the holidays. At the same time, there may be a certain replenishment situation downstream after the holidays, so the contradiction between supply and demand is relatively small. Short-term market operations are expected to be volatile.

 

Mainstream quotation in PE market: yuan/ton

plate number

regional

April 30

May 6

rise and fall

linear

North China

8420-8530

8370-8480

-50/-50

East China

8430-8550

8360-8520

-70/-30

South China

8460-8750

8440-8700

-20/-50

high pressure

North China

9580-9680

9650-9730

70/50

East China

9700-9750

9650-9750

-50/0

South China

9750-9800

9700-9800

-50/0

low pressure membrane material

North China

8330-8570

8330-8550

0/-20

East China

8500-8800

8500-8750

0/-50

South China

8400-8650

8350-8600

-50/-50

low pressure wire drawing

North China

8550-8850

8530-8900

-20/50

East China

8000-9000

8100-9050

100/50

South China

8700-9150

8700-9150

0/0

 

Analysis of PE futures: On May 6, the opening price of L2409 was 8430, the highest price was 8453, the lowest price was 8370, the position was 728150, the settlement price was 8403, yesterday's settlement: 8498, down: 95.

 

China's PE Index: According to Tdd-global's data, on May 6, China's LLDPE spot index was 8475, down 19; the LDPE film spot index was 9750, down 20; and the HDPE spot index was 8400, down 15.