China PE Market Trend is Weak_China PE Market Trend is Weak

China PE Market Trend is Weak

June 13, 2024

According to Todudu data monitoring, the domestic LLDPE (7042) price on October 23rd was RMB 8457.14 per ton, and the average price on October 27th was RMB 8374.29 per ton, a decrease of 0.98% over the same period, and an increase of 4.94% from September 1st.

According to the monitoring of TuoDu data, the average price of LDPE (2426H) ex-factory was RMB 9,750/mt on October 23, and RMB 9,633.33/mt on October 27, down 1.20% during the period, and up 1.23% compared with that of September 1st.

According to data from Tudou.com, the average ex-works price of HDPE (5000S) was RMB 8,400/mt on October 23, and RMB 836.67/mt on October 27, a decrease of 0.40% year-on-year, and a decrease of 1.57% compared with September 1 .

Last week (October 23-27), the domestic polyethylene spot market was mainly weaker, and the three major spot varieties were also weaker. All have different degrees of reduction. LLDPE market first rose and then fell, LDPE and HDPE first fell and then stabilized. Polyethylene ex-works prices were mostly down 50-400 yuan per ton this week. On the demand side, low-pressure drawing and pipeline are now in off-season with fewer orders and weak downstream demand. On the supply side, some companies have recently started to reduce production due to equipment maintenance and other reasons. In addition, enterprises are willing to go to the warehouse at the end of the month, mainly to earn more profit through shipment. However, the packaging film market is currently benefiting from the "Double 11", the business mentality is general, the offer narrowly adjusted, the overall situation is weak.

From October 23 to 27, Lesotho futures market volatility declined, a certain impact on the futures market. Limited support for the spot market. October 27, polyethylene futures 2301 opening price of 7676, the highest price of 7771, the lowest price of 7676, closing price of 7692, the former settlement price of 7704, the settlement price of 7713, down 12, the turnover of 325,306 hands, the number of positions 447,371 hands, increased to 2302 hands. (Quotation unit: yuan / ton)

On the raw material side, the rise in international crude oil prices provided some support for costs. On the demand side, low-pressure pipes and fresh materials are entering the off-season and demand for greenhouse films is expected to end soon. Downstream is cautious and multi-dimensional, replenishing on demand with waning enthusiasm. On the supply side, market output has declined recently. China PE spot market is expected to remain weak in the short term, but the downside is limited.

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

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