According to Todudu data monitoring, the domestic LLDPE (7042) price was RMB 8,204/mt on January 6, and the average price was RMB 8,118/mt on January 12, down 1.04% year-on-year, and 3.50% lower than that of December 1st.

According to the monitoring of the data of TODO, the average price of LDPE(2426H) ex-works was RMB 9100/mt on January 6, and RMB 8950/mt in December 2019. it decreased by 1.65% in the same period of January 12, and decreased by 4.11% compared with that of December 1, according to the data of TODO.

According to the monitoring of TuoDu data, the average ex-works price of HDPE(5000S) was RMB 8,433/mt on January 6 and RMB 8,416/mt on January 12, down 0.20% during the period, and up 0.20% compared with that of December 1, the average ex-works price of HDPE(5000S) was RMB 8,433/mt on January 6 and RMB 8,416/mt on January 12 respectively.

PE spot prices fell slightly this week. HDPE fell less and LLDPE fell more. On the cost side, the decline in crude oil prices suppressed the PE market. On the supply side, January is the maintenance off-season. In addition, Guangdong Petrochemical and Hainan Petrochemical are scheduled to start production in January 2023 and February 2023 respectively. PE supply is loose, supply pressure will continue to increase, market purchasing gas is scarce, inventory accumulation. In terms of end demand, downstream agricultural film, pipe, packaging film, insulation film, injection molding start rate declined, pre-holiday inventory enthusiasm is not high.

January 12, PE futures 2305 opening price of 8063 won, the highest price of 8154 won, the lowest price of 8060 won, closing price of 8127 won, before the settlement price of 8031 won, the settlement price of 8123 won, an increase of 96 won. 307, 441 lots, 346, 343 lots, a daily average of 741 lots. (Estimated unit: yuan / ton)

The company plans to stop many installations before the Lunar New Year. In the first quarter, PE entered the traditional accumulation stage, and PE supply was sufficient. Factories are on vacation, downstream companies are declining in all aspects, and PE demand is in the off-season.Todudu PE analysts forecast that PE in China may be weak.

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