November 17, 2022
According to the data monitoring of SunSirs, the domestic price of LLDPE (7042) was 8,374 RMB/ ton on November 7, and the average price was 8,370 RMB/ ton on November 11, with a decline of 0.05% during the period, 4.89% higher than that on September 1.
According to the data monitoring of SunSirs, the average ex factory price of LDPE (2426H) was 9,633 RMB/ ton on November 7, and the average price was 9,633 RMB/ ton on November 11. During this period, the price was stable, up 1.23% from September 1.
According to the data monitoring of SunSirs, the average ex factory price of HDPE (5000S) was 8,366 RMB/ ton on November 7 and 8,366 RMB/ ton on November 10. During this period, the price was stable, down 1.57% from September 1.
Last week, the overall quotation of the domestic polyethylene spot market was stable, among which LLDPE was stable after the rise and fall of the beginning of the week, and LDPE and HDPE were mainly stable. International crude oil futures prices fell on the 7th, which was bad for the market. On August 8, the spot price of domestic polyethylene was slightly adjusted, and petrochemical enterprises generally offered firm prices. In terms of supply, the total output of polyethylene this week increased compared with last week. The lower reaches were resistant to the high price. The enthusiasm for entering the market turned weak, the transaction slowed down, and the sample inventory of polyethylene manufacturers rose slightly. In terms of demand, data shows that the overall operating rate of the downstream industry has declined on a month on month basis, including the operating rate of agricultural film, packaging film and pipe materials, and the demand for agricultural film has gradually weakened. The peak season is nearing the end, and the consumer demand for the Double 11 E-commerce Festival has only been boosted.
In terms of current raw materials, on November 10, international crude oil futures prices rose, bringing some support to the cost side. On the demand side, the peak season of agricultural film gradually ended, bringing certain negative effects. The lower reaches mostly maintain replenishment on demand, with low enthusiasm. China PE spot market is expected to be dominated by narrow shocks.