February 6, 2023
According to the data monitoring of SunSirs, the domestic price of LLDPE (7042) was 8,392 RMB/ton on January 1, and the average price on January 31 was 8,432 RMB/ton, with an increase of 0.48% during the period, and up 0.24% from December 1.
According to the data monitoring of SunSirs, the average ex-factory price of LDPE (2426H) was 9,100 RMB/ton on January 1 and 9,183 RMB/ton on January 31, with an increase of 0.92% during the period, and down 0.61% from December 1.
According to the data monitoring of SunSirs, the average ex-factory price of HDPE (5000S) was 8,466 RMB/ton on January 1 and 8,566 RMB/ton on January 31, with an increase of 1.18% during the period, and 1.98% higher than that on December 1.
PE prices fell first and then rose in January. Before the year, the price of crude oil at the cost end fell, which depressed the domestic PE market. Downstream factories were closed for holidays, the operating rate was declining, and the terminal demand was poor. After the Spring Festival, the spot price of PE rose one after another, the ex-factory price of petrochemical enterprises increased, and traders increased accordingly. In terms of supply, there were devices put into operation at the end of January and the beginning of February, and the pressure of product supply increased. In terms of terminal demand, downstream factories had not yet resumed work, and market transactions were limited. As downstream enterprises gradually resume work, market demand may improve.
On January 30, international crude oil futures closed down. The settlement price of the main contract of US WTI crude oil futures was 77.90 US dollars/barrel, down 1.78 US dollars/barrel or 2.2%. The settlement price of the main contract of Brent crude oil futures was 84.90 US dollars/barrel, down 1.76 US dollars/barrel or 2.0%.
The production of new PE production capacity will be concentrated in the first quarter of 2023. The supply pressure will gradually increase, and the downstream product enterprises will gradually resume operation, and orders may increase. In the short term, PE is expected to have limited room to rise.
|Contact Person :||Mr. Anna qian|
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