SunSirs: The Trading Improved, China PE Spot Market Rose as a whole

https://www.chemnet.com   Sep 09,2022 SunSirs

　　According to the data monitoring of SunSirs, the domestic price of LLDPE (7042) was 7,980 RMB/ ton on September 1, and the average price was 8,044.29 RMB/ ton on September 8, with a weekly increase of 0.81% and a decrease of 0.47% compared with August 1.

　　According to the data monitoring of SunSirs, the average ex factory price of LDPE (2426H) was 9,516.67 RMB/ ton on September 1 and 9,733.33 RMB/ ton on September 8, with an increase of 2.28% in the week and a decrease of 3.15% compared with August 1.

　　According to the data monitoring of SunSirs, the average ex factory price of HDPE (5000S) was 8,500 RMB/ ton on September 1 and 8,500 RMB/ ton on September 8. The price was stable in the week, down 2.86% compared with August 1.With the arrival of the peak sales season, in the first week of September, the domestic PE spot market was dominant on the whole, and the trend of the three spot varieties was improved, with an overall increase of 50-400 RMB/ ton. Among them, LDPE rose most obviously, LLDPE rose slightly, and HDPE price was firm and stable in the week. Although the international crude oil price was weak in the week, the rise of ethylene and coal in cost brought certain support to the market. In addition, under the background of the peak season, downstream demand has improved, the operating rate of agricultural film has increased, and with the arrival of the Mid Autumn Festival, market transactions have increased. Petrochemical enterprises have raised their ex factory prices, and the attitude of the industry is better.On September 8, the opening price of PE futures 2211 was 8,114, the highest price was 8,191, the lowest price was 8,055, the closing price was 8,177, the previous settlement price was 8,139, and the settlement price was 8,122, up 38%. The trading volume was 55,679, the position was 93,876, and the daily increase was -2,950. (quotation unit: RMB/ ton)Liansu futures market rose significantly during the week, which brought some support to the spot market. In addition, the Mid Autumn Festival holiday is coming soon, and the downstream is preparing goods before the festival, so the enthusiasm for entering the market is better. However, the international crude oil price is weak, the market resource consumption is slow during the Mid Autumn Festival holiday, and the inventory pressure may increase, which will bring some restraint to the rising market. It is expected that the rising space of the PE spot market will be limited in China in the short term, or mainly consolidation.

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