February 16, 2023
Price trend
According to the data monitoring of SunSirs, the domestic price of LLDPE (7042) was 8,361 RMB/ton on February 6, and the average price on February 10 was 8,354 RMB/ton, with a decline of 0.09% during the period, and down 1.10% from February 1.
According to the data monitoring of SunSirs, the average ex-factory price of LDPE (2426H) was 9,216 RMB/ton on February 6 and 9,216 RMB/ton on February 10. During the period, the price was stable, which was the same as that of February 1.
According to the data monitoring of SunSirs, the average ex-factory price of HDPE (5000S) was 8,600 RMB/ton on February 6 and 8,500 RMB/ton on February 10, with a decline of 1.16% during the period, and 0.78% lower than that on February 1.
Analysis review
This week, the price of PE was generally weaker. HDPE declined significantly, LLDPE declined slightly, and LDPE quotation was stable. On February 9, the international crude oil futures closed slightly lower, which was negative for the PE market. PE enterprises started construction one after another, and the product supply pressure remained unchanged. Downstream enterprises were gradually returning to work, mainly digesting inventory, and the market purchasing sentiment was not high, mainly wait-and-see, with limited orders.
Market outlook
The supply of PE is sufficient. With the resumption of downstream enterprises and the approaching of the film season, orders may increase. In the short term, there is a lack of good news, and PE analysts of SunSirs predict that PE may be weaker mainly.
