SunSirs: Positive News Supports the Rise of PE

https://www.chemnet.com   Oct 17,2024 SunSirs

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LLDPE (7042) was 8,258 RMB/ton on October 1st, and the average price was 8463 RMB/ton on October 15th, with a price increase of 2.48% during this period.

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LDPE (2426H) was 10,500 RMB/ton on October 1st, and the average price was 11,150 RMB/ton on October 15th, with a price increase of 6.19% during this period.

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of HDPE (5000S) was 8,125 RMB/ton on October 1st, and the average price was 8,487 RMB/ton on October 15th, with a price increase of 4.46% during this period.

After the National Day holiday, the price of PE showed a strong trend. During the National Day holiday, due to the tense situation in the Middle East, the crude oil market rose. After the holiday, the PE market was boosted by positive news, and prices increased significantly. On the supply side, there has been an increase in maintenance equipment for enterprises, but there has been a reduction in the supply side. On the demand side, the demand for agricultural film in October has entered the peak season, and downstream enterprises have increased their operating load, gradually accumulating orders. Multiple favorable factors support the upward adjustment of the PE market.

On October 16th, the PE L2501 contract on the Dalian Commodity Exchange opened at 8,180 RMB and closed at 8,200 RMB, a decrease of 45 RMB, with a maximum of 8,238 RMB and a minimum of 8,180 RMB, a decrease of 0.55%.

Recently, international oil prices have been continuously falling, and there is insufficient cost support; The demand side is in the peak season, which provides support for the PE market; The frequent emergence of macro policies is favorable for the PE market. The price of PE continues to rise, and the market has slowed down the transaction of high priced goods. It is expected that PE will continue to have a strong trend, but the upward space is limited.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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