According to the monitoring of the commodity market analysis system of toodudu, the domestic price of LLDPE (7042) was 8,237 RMB/ton on January 1, and the average price on January 30 was 8,257 RMB/ton, with a 0.24% increase in quotation during this period.

According to the monitoring of the commodity market analysis system of toodudu, the domestic price of LDPE (2426H) was 9,082 RMB/ton on January 1st, and the average price on January 30th was 9,200 RMB/ton, with a price increase of 1.29% during the period.

According to the monitoring of the commodity market analysis system of toodudu, the domestic price of HDPE (5000S) was 8,500 RMB/ton on January 1st, and the average price on January 30th was 8,437 RMB/ton, with a price drop of 0.74% during the period.

In January, PE generally showed a decline followed by an increase, with LDPE showing a significant increase, while HDPE prices remained stable after mid month. After New Year’s Day, petrochemical enterprises have accumulated inventory, and supply side pressure still exists, suppressing the narrow fluctuation and decline of the PE market. After mid month, the futures market has strengthened, driving a slight increase in PE spot prices. Positive factors include a rebound in crude oil prices, expectations for a domestic interest rate cut, and the approaching Spring Festival with demand for restocking in the market, which has led to a narrow upward trend in the PE market.

After the decline at the beginning of the month, PE futures have shown a strong trend, which is beneficial for the spot market. On January 30th, the opening price of the PE l2405 contract on the Dalian Commodity Exchange was 8,314 RMB/ton, and the closing price was 8,264 RMB/ton, a decrease of 24 RMB/ton. The highest price was 8,330 RMB/ton, and the lowest was 8,261 RMB/ton, a decrease of 0.29%.

The pressure on PE supply is still on, and as the Spring Festival approaches, downstream factories are gradually taking holidays, resulting in weaker demand; It is expected that PE will undergo a narrow adjustment in operation before the Spring Festival, with limited upward space.

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