SunSirs: Poor Demand, China PE Market is Weak

https://www.chemnet.com   Jul 09,2024 SunSirs

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LLDPE (7042) was 8,622 RMB/ton on July 1st, and the average price on July 8th was 8,591 RMB/ton, with a price drop of 0.36% during the period.

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LDPE (2426H) was 10,650 RMB/ton on July 1st, and the average price on July 8th was 10,537 RMB/ton, with a price drop of 1.06% during the period.

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of HDPE (5000S) was 8,595 RMB/ton on July 1st, and the average price on July 8th was 8,450 RMB/ton, with a price drop of 1.69% during the period.

Recently, the trend of polyethylene has been weak. Linear products have a narrow decline, while high-pressure and low-pressure products have a clear downward trend. The high volatility of oil prices provides support for polyethylene. The early maintenance equipment has been restarted one after another, and there are expectations of an increase in supply. In addition, imported HDPE is expected to increase in June. The demand for polyethylene is in the off-season, and there is insufficient follow-up on new orders. Downstream rigid demand procurement requires manufacturers and traders to offer discounts to promote transactions. Downstream resistance to high prices, limited market transactions, coupled with the low demand season for agricultural film, it is expected that polyethylene will experience weak fluctuations in the short term, with limited downward space.

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