SunSirs: Limited Demand, China PE Prices Fluctuate

https://www.chemnet.com   Aug 28,2024 SunSirs

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LLDPE (7042) was 8,260 RMB/ton on August 20th, and the average price was 8,260 RMB/ton on August 27th, during which the quotation remained stable.

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LDPE (2426H) was 10,166 RMB/ton on August 20th, and the average price was 10,283 RMB/ton on August 27th, with a price increase of 1.15% during this period.

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of HDPE (5000S) was 8,162 RMB/ton on August 20th, and the average price was 8,137 RMB/ton on August 27th, with a price drop of 0.31% during this period.

Recently, the price of PE has fluctuated with little fluctuation. High voltage products have experienced price increases due to equipment maintenance. Linear products and low-voltage products have weak and slight fluctuations. The rebound in international oil prices provides some support for the cost side. PE inventory has slightly increased, leading to increased supply pressure and slow consumption of petrochemical inventory. In terms of demand, downstream factories maintain a focus on rigid procurement and are cautious in their purchases. However, there has been no significant improvement in demand, which limits the upward momentum of product growth.

On August 27th, the PE L2409 contract on the Dalian Commodity Exchange opened at 8,180 RMB and closed at 8,183 RMB, up 47 RMB, with a high of 8,192 RMB and a low of 8,164 RMB, up 0.58%.

There is an increasing trend in the supply side in September; The peak consumption season for demand side "golden September and silver October". Both supply and demand are increasing, and it is expected that PE will experience narrow fluctuations in the short term.

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

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