SunSirs: Weak Demand, China PE Market Fluctuated in Narrow Range

https://www.chemnet.com   Dec 11,2023 SunSirs

　　According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LLDPE (7042) was 8,100 RMB/ton on December 4th, and the average price on December 8th was 8090 RMB/ton, with a decrease of 0.12% in the quotation during this period.

　　According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LDPE (2426H) was 9,125 RMB/ton on December 4th, and the average price on December 8th was 9107 RMB/ton, during which the quotation fell by 0.19%.

　　According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of HDPE (5000S) was 8,550 RMB/ton on December 4th, and the average price on December 8th was 8,550 RMB/ton. During this period, the quotation remained stable.

　　Last week, the PE market saw a narrow adjustment in operation. On the cost side, international crude oil has declined, and the support for PE on the cost side has weakened. The maintenance equipment of petrochemical enterprises has decreased compared to the previous period, and the supply of PE is still sufficient. In addition, there is an expectation of an increase in imported goods. Agricultural film and pipe materials are in the off-season of demand, with limited new orders for packaging film, and a poor transaction atmosphere. Downstream purchases are mainly based on low demand, and procurement is relatively cautious. Traders adjust their offers and have a strong willingness to sell at a discounted price. As the weekend approaches, market sentiment rebounds and there is a slight upward trend in quotations, but there is limited room for upward adjustment.

　　On December 8th, the opening price of the PE l2401 contract on the Dalian Commodity Exchange was 7,960 RMB, the closing price was 8,057 RMB, an increase of 102 RMB, the highest was 8,074 RMB, the lowest was 7,940 RMB, an increase of 1.28%.

　　The PE market is oversupplied with flat demand, and it is expected that PE may fluctuate weakly.

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