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Positive Support, China PE Market is Rising

  41
 June 2, 2024

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According to the monitoring of Todudu Bulk Products Market Analysis System, the domestic LLDPE (7042) price was RMB 8300/ton on April 15, and the average price was RMB 8371/ton on April 19, up 0.86% in the same period.

According to Rabbit Dodo bulk product market analysis system monitoring, April 15 domestic LDPE (2426H) price of 9382 yuan / ton, April 19 average price of 9395 yuan / ton, up 0.13% over the same period.

According to the monitoring of Todudu bulk product market analysis system, the domestic HDPE (5000S) price was RMB 8475 per ton on April 15, and the average price was RMB 8507 per ton on April 19, asking for a rise of RMB 0.38 . % For a period of time.Last week, PE market trend was strong. From the cost perspective, the rapid fluctuation of international crude oil prices favored the PE market. On the supply side, with the arrival of spring maintenance and the increase of petrochemical shutdown for maintenance, the supply-side pressure eased and PE prices rose slightly. On the demand side, demand was low as shed film entered the off-season and some companies shut down production for maintenance. The peak season for plastic films is coming to an end and the cumulative orders in the market are decreasing.

April 19, Dalian Commodity Exchange PE L2409 contract opened at 8424 yuan, closed at 8464 yuan, up 40 yuan, the highest 8581 yuan, the lowest 8391 yuan, up 0.47%. PE futures fluctuated sharply last week to support the spot market.

Although the supply side is expected to decline, the demand side of agricultural film is not enough support due to the positive expectations of packaging film demand and the decline in supply side demand. PE prices are expected to fluctuate mainly in a narrow range with limited room for growth.

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

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