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SunSirs: China PE Price Rose ‘Irresistible’ in June

July 09 2020 09:45:52     SunSirs (Selena)

According to the monitoring of SunSirs, LLDPE, LDPE and HDPE in East China showed an obvious upward trend in June. Among them, the trend of LLDPE in East China was twists and turns, while the trend of LDPE and HDPE was continuously rising. The overall trading atmosphere of the market in June was good. The rising range of the three major PE varieties was 250-900 RMB/ ton. among them, LDPE in East China was the most prominent, with a monthly increase of 8.09%.

In June, the price of PE market rose mainly, with an increase range of 250-900 RMB/ ton. The main factors for the rise are as follows: 1. The maintenance volume increased in June, and the market supply decreased, which brought benefits to local areas. According to the data, the domestic PE plant lost nearly 280,000 tons in June due to maintenance; 2. The international oil price showed an upward trend, the market was favorable, and the raw material ethylene followed the rise, which brought obvious support to the PE market in terms of cost; 3. The strong performance of Liansu futures boosted the market mood. However, affected by seasonal factors, the operating rate of agricultural film is about 15%, and the demand for plastic film is in low season, the demand for greenhouse film is flat, and the terminal demand is general. However, on the whole, there were many positive factors in June, and the petrochemical enterprises continuously raised the ex factory prices, which pushed up the prices.

They are more cautious against the current high prices of the downstream factories. However, the maintenance season is not over, and some manufacturers' equipment maintenance has brought support to local areas. The downstream gradually returned to work and production, the operating rate increased significantly compared with the previous period, and the market demand showed signs of recovery. Internationally, the trend of crude oil and ethylene is better, with some support in terms of cost, and the positive is greater than the negative. It is expected that the PE market may still rise in July.

 

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