February 23, 2023
Price trend
According to the data monitoring of SunSirs, the domestic price of LLDPE (7042) was 8,347 RMB/ton on February 13, and the average price on February 17 was 8,340 RMB/ton, with a decline of 0.09% during the period, and 1.27% lower than that on February 1.
According to the data monitoring of SunSirs, the average ex-factory price of LDPE (2426H) was 9,050 RMB/ton on February 13 and 9,050 RMB/ton on February 17. During the period, the price was stable, and 1.81% lower than that on February 1.
According to the data monitoring of SunSirs, the average ex-factory price of HDPE (5000S) was 8,500 RMB/ton on February 13 and 8,500 RMB/ton on February 17. During the period, the quotation remained stable, and down 0.78% from February 1.
Analysis review
The price of PE fluctuated limited this week, most of which remained stable. The quotation declined on Monday, and then remained basically stable. On February 16, the international crude oil futures closed lower, which was negative for the PE market. Guangdong Petrochemical's 1.2 million tons ethylene plant had been successfully put into operation, and the overall market supply was still loose. The operating rate of downstream enterprises had increased, but mainly digested the inventor, the market purchasing sentiment was not high, and orders were limited. Traders were under great inventory pressure, and their quotations were adjusted according to the market.
Market outlook
After the Spring Festival, the PE market demand recovered less than expected. With the gradual increase of the demand for plastic film, the market demand was expected to turn better. In the short term, the PE analysts of SunSirs predict that PE will mainly continue to operate to be weaker.
