SunSirs: Limited Benefit, China PE Market Fluctuates

https://www.chemnet.com   Jun 11,2024 SunSirs

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LLDPE (7042) was 8,642 RMB/ton on June 3, and the average price on June 7 was 8,628 RMB/ton, with a price drop of 0.17% during the period.

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LDPE (2426H) was 9,962 RMB/ton on June 3, and the average price on June 7 was 10,062 RMB/ton, with a price increase of 1.00% during the period.

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of HDPE (5000S) was 8,787 RMB/ton on June 3, and the average price on June 7 was 8,762 RMB/ton, with a decrease of 0.28% in the quotation during this period.

Last week, the price of polyethylene fluctuated. The quotation for high-voltage products is relatively strong, with prices showing an upward trend; Linear and low-voltage product quotations have weakened, with prices slightly rising towards the weekend. Supply: In May, the polyethylene plant was in a peak maintenance period, with a low on-site operating rate. Some product grades were affected by the previous shutdown and maintenance situation, resulting in tight supply and strong quotations. It is expected that the polyethylene parking and maintenance equipment will restart in June, with an increase in supply expectations. On the demand side, agricultural film enters the off-season of production; The operating rate of pipes has decreased; The overall follow-up of downstream orders is slow, with downstream rigid demand mainly being purchased and insufficient support for polyethylene. On the cost side, international crude oil prices have loosened, and polyethylene futures have been suppressed.

On June 7th, the polyethylene l2409 contract on the Dalian Commodity Exchange opened at 8,528 RMB and closed at 8544 RMB, up 38 RMB, with a maximum of 8,609 RMB and a minimum of 8,523 RMB, up 0.45%. This week, polyethylene futures weakened first and rose slightly towards the weekend.

Last week, petrochemical companies had a strong attitude of price support, with some varieties offering stronger prices and rising prices. Traders offered small discounts to ship. Expected increase in supply side in June; The demand side is in the off-season, and the market demand is average; 4. In May, the price of polyethylene products continued to rise, and downstream resistance to high prices was strong. Market transactions were difficult to increase, and it is expected that polyethylene may fluctuate and weaken.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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