March 6, 2023
According to the data monitoring of SunSirs, the domestic price of LLDPE (7042) was 8,447 RMB/ton on February 1, and the average price on February 28 was 8,332 RMB/ton, with a decline of 1.35% during the period, and down 0.71% from January 1.
According to the data monitoring of SunSirs, the average ex-factory price of LDPE (2426H) was 9,216 RMB/ton on February 1 and 9,070 RMB/ton on February 28, with a decline of 1.59% during the period, and 0.33% lower than the price quoted on January 1.
According to the data monitoring of SunSirs, the average ex-factory price of HDPE (5000S) was 8,566 RMB/ton on February 1 and 8,500 RMB/ton on February 28, with a decline of 0.78% during the period, and up 0.39% from January 1.
In February, the domestic PE price was dominated by weak operation. LLDPE continued to decline in the first half of the month, and rose and fell in the second half of the month; LDPE's quotation in the first half of the month was mainly stable, while it rose and fell in the second half of the month; HDPE declined significantly in the first half of the month, and the quotation in the second half was mainly stable.
Hainan Refining and Chemical Co., Ltd. and Guangdong Petrochemical Co., Ltd. had been put into operation successively, and the overall market supply was still loose. Since the beginning of February, the operating rate of downstream enterprises had increased, but mainly digested inventory. The market purchasing sentiment was not high, and orders were limited. Traders' inventory pressure was high, and their quotations had fallen. March is the traditional peak season. The operating rate of agricultural film, packaging film and other plastic downstream products will increased, and orders will increase.
The domestic PE market had sufficient supply, and the demand for PE market recovered less than expected after the Spring Festival. March is the traditional peak season, and the market demand is expected to be optimistic. PE is expected to increase, but its rising space is limited.
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