China Domestic PE Price Declines due to Weakness

December 15, 2022

Latest company news about China Domestic PE Price Declines due to Weakness

According to the data monitoring of SunSirs, the domestic price of LLDPE (7042) was 8,417 RMB/ton on December 5, and the average price was 8,370 RMB/ton on December 9, with a decline of 0.56% during the period, 0.51% lower than that on December 1.

According to the data monitoring of SunSirs, the average ex factory price of LDPE (2426H) was 9,283 RMB/ton on December 5 and 9283 RMB/ton on December 9. The quotation was stable during this period, down 0.54% compared with December 1.

According to the data monitoring of SunSirs, the average ex factory price of HDPE (5000S) was 8,400 RMB/ton on December 5, and 8,400 RMB/ton on December 9. The quotation was stable during this period, which was the same as that on December 1.

PE prices fell weakly this week, among which LLDPE fell significantly; LDPE prices remained stable after price reduction on Monday; HDPE quotation was stable. The weak crude oil price depressed the domestic PE market. Some enterprises have shut down their equipment for maintenance, and the supply of PE products has decreased. The domestic epidemic prevention and control policy has been relaxed, and the logistics and transportation have been eased, but the downstream demand is not good, and the orders of enterprises have decreased.

Supply side: The maintenance devices will resume work next week, and the supply side is expected to recover. On the demand side, the market mainly purchases on demand. Affected by domestic public events, the market was pessimistic in the future. It is expected that China PE spot market will be dominated by weak operation.

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