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SunSirs: China PE Market Continued to be Weak on May 18
May 20 2021 14:41:04SunSirs(Selena)

Plastic futures market: on May 18, the opening price of polyethylene futures 2109 was 8,060, the highest price was 8,120, the lowest price was 8,010, the closing price was 8,065, the former settlement price was 8,130, the settlement price was 8,060, down 65, or 0.80%, the trading volume was 449,831, the position was 362,203, and the daily increase was 13,018(Quotation unit: RMB/ ton)

On May 18, the overall weakness of the three major polyethylene varieties in the spot market fell, while the LLDPE and LDPE markets fell significantly, with a decline range of about 100-250 RMB/ ton. The HDPE market has not changed much and most of them are stable. Although the slight rise of international crude oil has brought some positive support to the market, some petrochemicals have lowered their ex factory prices, which has affected the market mentality. Even plastic futures market low open low volatility, trading cautious, to bring a certain negative market. Traders mainly follow the decline, the current market demand is general. It is expected that China PE market will be mainly consolidated at a high level in the short term, with limited changes.

 

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