Limited Demand, China PE Spot Price Fell

January 12, 2023

Latest company news about Limited Demand, China PE Spot Price Fell

According to the data monitoring of SunSirs, the domestic price of LLDPE (7042) was 8,392 RMB/ton on January 2, and the average price was 8,204 RMB/ton on January 6, with a decline of 2.25% during the period, 2.48% lower than that on December 1.

According to the data monitoring of SunSirs, the average ex factory price of LDPE (2426H) was 9,100 RMB/ton on January 2 and 9,100 RMB/ton on January 6. The quotation was stable during this period, down 2.50% compared with December 1.

According to the data monitoring of SunSirs, the average ex factory price of HDPE (5000S) was 8,466 RMB/ton on January 2 and 8,433 RMB/ton on January 6, with a decline of 0.39% during the period, up 0.40% compared with December 1.

Polyethylene spot price showed a weak decline trend this week. Among them, LLDPE and HDPE prices were lowered, while LDPE prices were slightly firm. The cost side price of crude oil fell, which depressed the domestic polyethylene market. The new polyethylene production capacity was put into operation, and the pressure at the supply end continued to increase. The terminal demand is poor. According to statistics, the average operating rate of polyethylene downstream products decreased by 0.43% compared with the previous period.

On January 6, the opening price of polyethylene futures 2305 was 8,011, the highest price was 8,053, the lowest price was 7,980, the closing price was 8,031, the previous settlement price was 8,017, the settlement price was 8,015, the increase was 14, the trading volume was 256,578, the position was 356,019, and the daily increase was -3,836. (Quotation unit: RMB/ton)

There are not many planned shutdown maintenance devices, and the polyethylene supply is sufficient; As the Spring Festival is approaching, downstream enterprises will have holidays one after another, and demand support is insufficient. SunSirs analysts predict that China PE market may be dominated by shocks.

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