China PE Market Rose first and then Fell In October

November 3, 2022

Latest company news about China PE Market Rose first and then Fell In October

According to the data monitoring of SunSirs, the domestic price of LLDPE (7042) was 8,368.57 RMB/ ton on October 1, and the average price was 8,374.29 RMB/ ton on October 27. The increase in October was 0.07%, 4.94% higher than that on September 1.

According to the data monitoring of SunSirs, the average ex factory price of LDPE (2426H) was 9,980 RMB/ ton on October 1 and 9,633.33 RMB/ ton on October 28. The decline in October was 3.47%, up 1.23% compared with September 1.

According to the data monitoring of SunSirs, the average ex factory price of HDPE (5000S) was 8,416.67 RMB/ ton on October 1 and 8,366.67 RMB/ ton on October 28. The decline in October was 0.59%, 1.57% lower than that on September 1.

In October, the domestic polyethylene spot market was dominated by shocks, and the three major spot varieties showed a trend of rising first and then declining, with LLDPE rising and LDPE and HDPE falling. After the National Day holiday, the polyethylene market has obviously risen. During the holiday period, the international crude oil rose positively, driving the polyethylene market higher. In addition, the demand for downstream stock and replenishment after the holiday made petrochemical enterprises have a strong mentality and the ex factory price is higher. However, in the later period, as the international crude oil stopped rising and fell after the festival, the market was in a bad mood. The lower reaches had limited ability to accept high prices, and their enthusiasm for entering the market was less than that in the earlier period. The market transaction atmosphere was flat, and the polyethylene price fell. At present, low pressure wire drawing and pipe are in the off-season, with few orders and weak downstream demand. On the supply side, the market output has decreased. In addition, at the end of the month, the enterprises are willing to go to the warehouse at the end of the month, and mainly make more profits for shipment.

In terms of current raw materials, although international crude oil rose at the end of the month (October 27), the support from this end was limited. On the demand side, low pressure pipes and wire drawing materials are in the off-season, and the demand for greenhouse films is coming to an end, bringing certain negative effects. The lower reaches mostly maintain replenishment on demand, with low enthusiasm. It is expected that China PE spot market will be difficult to rise in November, or it will be dominated by narrow shocks.

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