Insufficient Benefits, China PE Market Price is Weak and Consolidated

September 29, 2022

Latest company news about Insufficient Benefits, China PE Market Price is Weak and Consolidated

According to the data monitoring of SunSirs, the domestic price of LLDPE (7042) was 8,182.86 RMB/ ton on September 19, and the average price was 8,175.71 RMB/ ton on September 23. The weekly decline was 0.09%, up 0.62% compared with August 1.

According to the data monitoring of SunSirs, the average ex factory price of LDPE (2426H) was 10,200 RMB/ ton on September 19 and 10,100.00 RMB/ ton on September 23, with a drop of 0.98% within the week, up 0.50% compared with August 1.

According to the data monitoring of SunSirs, the average ex factory price of HDPE (5000S) was 8,600 RMB/ ton on September 19 and 8,533.33 RMB/ ton on September 23, respectively, with a drop of 0.78% within the week, 2.48% lower than that on August 1.

Last week (September 19-23), the domestic PE spot market was operating in a weak position, and the three major spot varieties all declined, but the fluctuation range was relatively limited. LLDPE showed a trend of falling first and then rising, while LDPE and HDPE showed a trend of stabilizing first and then falling. In the week, the market was obviously bearish. In terms of cost, the decline of international crude oil was the main factor, which brought some bad news. The ex factory prices of petrochemical enterprises are mostly lowered. In terms of demand, although the order volume of downstream factories has increased, it is still dominated by rigid demand, and the market trading atmosphere is general. In terms of supply, there is no enterprise device parking in the week, and the market supply is abundant.

From September 19 to 23, Liansu futures market fell first and then rose, with the decline more than the increase. On September 23, the opening price of PE futures 2301 was 8,150, the highest price was 8,168, the lowest price was 8,020, the closing price was 8,037, the previous settlement price was 8,067, the settlement price was 8,087, the drop was 30, the trading volume was 383,321, the position was 397,233, and the daily increase was -14,411. (Quotation unit: RMB/ ton)

In terms of current raw materials, international crude oil stopped falling and rising on the 22nd, with relative support from the cost side. The prices of some LLDPE enterprises increased, but by a small margin. On the demand side, the National Day holiday is coming, and replenishment is expected before the downstream festival. On the supply side, the current market is relatively abundant. It is expected that China PE spot market will continue to adjust mainly in the short term, with limited range.

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