China PE Spot Market continued to be Weak

August 25, 2022

Latest company news about China PE Spot Market continued to be Weak

According to the data monitoring of SunSirs, the domestic price of LLDPE (7042) was 8,025.71 RMB/ ton on August 14, and the average price was 7,840.00 RMB/ ton on August 19, with a decrease of 2.31% in the week and 9.71% compared with July 1.

According to the data monitoring of SunSirs, the average ex factory price of LDPE (2426h) on August 14 was 9916.67 RMB/ ton, and the average price on August 19 was 9783.33 RMB/ ton, with a decrease of 1.34% in the week and 10.52% compared with July 1.

According to the data monitoring of SunSirs, the average ex factory price of HDPE (5000S) was 8,650 RMB/ ton on August 14, and 8,516.67 RMB/ ton on August 19, with a decrease of 1.54% in the week and 9.56% compared with July 1.

Last week, the domestic PE market continued to be weak, and the three spot varieties were significantly reduced, with a range of 50-300 RMB/ ton. Among them, LLDPE fell most obviously, with the average price falling below 8,000 RMB/ ton, and LDPE and HDPE also decreased. During the week, the international crude oil market fell first and then rose. The decline was greater than the increase. The cost brought limited support to the market. The market supply is relatively sufficient, and some enterprises installed and started up in the week. The demand is still weak, with high temperature and power limitation in many places, and the increase of downstream orders is poor. The market is dominated by negative factors and the price is mainly downward.

On August 19, the opening price of PE futures2209 was 7,656, the highest price was 7,723, the lowest price was 7,621, the closing price was 7,691, the previous settlement price was 7,667, the settlement price was 7,669, up 24%, the trading volume was 134,070, the position was 82,227, and the daily increase was – 33,856. (quotation unit: RMB/ ton)

Although the international crude oil market rebounded over the weekend, the support brought by the cost is still limited. The pressure on the overall supply of the PE market is still too large, and the downstream demand is insufficient to follow up. The market is obviously negative and still weak. It is expected that there is still room for decline in the PE spot market in China in the short term.

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