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China Domestic PE Price is in Weak Consolidation

  40
 June 3, 2024

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According to the monitoring of TuoDu data, the domestic LLDPE (7042) price was RMB 8414 per ton on December 19, and the average price was RMB 8400 per ton on December 27, down 0.17% during the same period, and down 0.15% compared with that of December 1, according to the monitoring of TuoDu data.

According to the monitoring of TuoDu data, the average price of LDPE (2426H) ex-works on December 19th was RMB 9100/mt, and on December 27th was RMB 9100/mt. During the period, the asking price dropped 2.5% compared with Dec. 1, showing a stable trend.

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According to the data monitoring of Tudou.com, the average ex-works price of HDPE (5000S) was RMB 8,466/mt on Dec 19th and RMB 8,466/mt on Dec 27th. Compared with December 1, the stable estimate period increased by 0.79%.

From December 19 to 27, polyethylene prices were generally firm. LLDPE is expected to decline slightly, while LDPE is slightly down and HDPE is estimated to remain stable. Petrochemical companies forecast limited adjustments. Manufacturers' offers are mainly firm, with some models quoted lower. Agricultural film utilization is down and greenhouse film demand is slowing. Some manufacturers continue to operate on orders for packaging film and piping, while demand remains off-peak. Decreased. With new capacities gradually coming on stream, supply pressure on the polyethylene market will increase further in the future. In addition, companies are willing to go to the warehouse at the end of the month, mainly to earn more profits through shipments.

From December 19 to 27, Lesotho futures market shocks. December 27, polyethylene futures 2301 opening price of 8026, the highest price of 8182, the lowest price of 8182, closing price of 8167, the former settlement price of 7986, settlement price of 8071, up 181, turnover of 312,771 hands, the position volume of 339,140 hands, the average daily growth of 679 hands. (Estimated unit: yuan / ton)

This week, affected by domestic public events, crude oil prices rebounded at a low level, bringing some confidence and support to the market. Traders are concerned about the demand, trading and investing cautiously, and the wait-and-see mood is strong. Polyethylene spot market is expected to be weak and stable.

If you have any questions, please feel free to contact toodududu (tdd-global@toodudu.com).

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