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SunSirs: China PE Futures Fluctuated Higher in Mid and Late August

August 28 2020 08:10:10     SunSirs (Selena)

In the middle and late August (8.12-24), the three varieties of PE in the spot market showed different ups and downs. LDPE and HDPE in East China showed a trend of first stabilization and then pull up, while LLDPE in East China showed a trend of first falling and then callback. Although the range was not large, it deviated from the trend of the other two varieties. Among them, the increase of high-pressure LDPE was the most obvious, with the overall increase of 3.94% in the middle and late August. Lower PE market, but the overall stock market is still stable.

According to the data of SunSirs, the average ex-factory price of LLDPE (7042) in East China was 7,233.33 RMB/ ton on August 12 and 7,200.00 RMB/ ton on August 24, with a decrease of 0.46% and an increase of 0.47% compared with August 1.

The average ex-factory price of LDPE (2426h) in East China was 8,875.00 RMB/ ton on August 12 and 9,225.00 RMB/ ton on August 24, with an increase of 3.94% during the period and 6.80% higher than that on August 1.

The average ex-factory price of HDPE (5000S) in East China was 8,200.00 RMB/ ton on August 12 and 8,300.00 RMB/ ton on August 24, with an increase of 1.22% and 2.47% over August 1.

In the middle and late August, PE is mainly up, except for linear weak consolidation, high and low pressure goods are up, ranging from 100 to 400 RMB/ ton. Due to high pressure goods were in short supply, so the increase was higher than other varieties. During this period, the high level of international crude oil shocks also brought some support to the market. After the main region raised the price, the merchants followed up the offer to ship, and the market transaction atmosphere was stable.

At present, the operating rate of agricultural film has increased, the demand for greenhouse film is increasing slowly, the demand for plastic film is mainly shut down in the off-season, and the downstream demand is still expected to rise. At present, the international crude oil trend remains high-temperature shock, which is relatively limited to the market. The linear futures fluctuate and rise, bringing certain support to the market. Although there are plans to put new units into operation in the middle and late August, with the completion of petrochemical plant maintenance, the market supply is expected to rise, but in the short term, the supply pressure is not big. China PE market is expected to be strong in the short term.

 

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