China PE Spot Market Rose due to the Obvious Advantages

September 26, 2022

Latest company news about China PE Spot Market Rose due to the Obvious Advantages

According to the data monitoring of SunSirs, the domestic price of LLDPE (7042) was 8,101.43 RMB/ ton on September 11, and the average price was 8,182.86 RMB/ ton on September 19, with a weekly increase of 1.01%, 0.70% higher than that on August 1.

According to the data monitoring of SunSirs, the average ex factory price of LDPE (2426H) was 9,733.33 RMB/ ton on September 11 and 10,200.00 RMB/ ton on September 19, with an increase of 4.79% in the week, 1.49% higher than that on August 1.

According to the data monitoring of SunSirs, the average ex factory price of HDPE (5000S) was 8,500 RMB/ ton on September 11 and 8,600 RMB/ ton on September 19, with a weekly increase of 1.18%, down 1.71% from August 1.

After the Mid Autumn Festival holiday, the domestic polyethylene spot market continued to rise, and the trend of three major spot varieties rose one after another, with a range of 50-600 RMB/ ton. Among them, LDPE rose the most obviously, and LLDPE and HDPE prices were also the above players. During the week, the market was obviously favorable. In terms of cost, the trend of international crude oil was relatively strong, bringing some support. The ex factory prices of petrochemical enterprises have risen one after another. In addition, with the arrival of the golden ninth peak season, there is a demand for replenishment in the downstream after the festival. The businessmen have a good mentality, and most of the prices are high.

On September 19, the opening price of polyethylene futures 2301 was 8,130, the highest price was 8,194, the lowest price was 8,018, the closing price was 8,035, the previous settlement price was 8,080, the settlement price was 8,110, down 45, the trading volume was 367,279, the position was 425,473, and the daily position was increased by 7,536. (Quotation unit: RMB/ ton)

In terms of current raw materials, the international crude oil trend is volatile, and the support brought by the cost side is limited. On the demand side, although peak season has gained support in the peak season, the downstream needs to follow up, and the demand has not increased significantly. At present, petrochemical enterprises have a strong mentality, and the ex factory price has been reported high one after another. It is expected China PE spot market will enter the post rising consolidation stage in the short term.

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