China Domestic PE Market Rose and Fell in November

December 8, 2022

Latest company news about China Domestic PE Market Rose and Fell in November

According to the data monitoring of SunSirs, the domestic price of LLDPE (7042) was 8,335 RMB/ton on November 1, and the average price was 8,408 RMB/ton on November 30. The increase rate during this period was 0.87%, 0.48% higher than that on October 1.

According to the data monitoring of SunSirs, the average ex factory price of LDPE (2426H) was 9,600 RMB/ton on November 1 and 9,333 RMB/ton on November 30, with a drop of 2.78% during the period, down 6.48% compared with October 1.

According to the data monitoring of SunSirs, the average ex factory price of HDPE (5000S) was 8,366 RMB/ton on November 1, and 8,400 RMB/ton on November 30, with an increase of 0.4% during the period, 0.2% lower than that on October 1.

In November, the spot price of the domestic PE market rose and fell in various ways, among which LLDPE rose slightly in the first half of the month and operated in a narrow range in the second half; LDPE continuously lowered its quotation throughout the month, with a large decline; HDPE quotation is mainly firm. It is estimated by data that the domestic PE output decreased by 3.69% month on month in November, and the supply of goods in some regions was tight in the middle of the month, providing some support for the PE market. The "Double 11" e-commerce consumption festival has brought a short-term boost to the market, but after the e-commerce festival, the operating rate of packaging film has declined, and downstream orders are not good. At the end of the month, the enterprise was willing to go to the warehouse, mainly to make more profits for shipment.

In terms of current raw materials, on November 29, international crude oil futures closed higher, bringing some support to the cost side, but the support was limited. On the demand side, the peak season of agricultural film has gradually ended, the willingness of petrochemical enterprises to support prices has weakened, and the logistics has been blocked due to the impact of domestic public events. The future market is pessimistic. It is expected that China PE spot market will be weak in the short term.

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