SunSirs: China PE Saw a Narrow Increase Last Week (November 11-15)

https://www.chemnet.com   Nov 18,2024 SunSirs

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LLDPE (7042) was 8,596 RMB/ton on November 11th, and the average price was 8,650 RMB/ton on November 15th, with a price increase of 0.62% during this period.

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LDPE (2426H) was 10,733 RMB/ton on November 11th, and the average price was 10,750 RMB/ton on November 14th, with a price increase of 0.16% during this period.

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of HDPE (2426H) was 8,500 RMB/ton on November 11th, and the average price was 8,500 RMB/ton on November 15th, during which the quotation was temporarily stable.

There are many PE parking inspections and a decrease in petrochemical inventory, which puts great pressure on inventory supply and supports the PE market. According to data statistics, as of November 14th, the plastic two barrel oil inventory was 670,000 tons, a decrease of 1.47% month on month and 0.74% year-on-year. The demand for greenhouse film has entered the final stage, downstream procurement efforts have decreased, and there is insufficient follow-up on new orders; Macro positive expectations have increased, and the market sentiment is relatively strong, boosting the plastic market.

On November 15th, the Dalian Commodity Exchange PE L2501 contract opened at 8,322 RMB and closed at 8,289 RMB, up 19 RMB, with a high of 8,396 RMB and a low of 8,270 RMB, up 0.23%. The recent strong trend of PE futures has boosted the spot market.

The peak season for agricultural film is coming to an end, and the support for PE is weakening. It is expected that the upward space for PE will be limited.

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