SunSirs: PE Led the Rise under High Pressure and Prices Reached New Highs in November

In November, the three major PE varieties in the spot market showed an upward trend as a whole. Among them, high-pressure was the leader, with the most obvious rise, and the price repeatedly reached new highs. According to the data monitoring of SunSirs, the price of 2426H LDPE in East China increased about 1,900 RMB/ ton in November. In November, the price of LLDPE 7042 in East China increased about 800 RMB/ ton, and the low pressure was mainly followed by the two major varieties, with the smallest increase. In November, the price of HDPE 5000S in East China increased about 400 RMB/ ton.

According to the data monitoring of SunSirs, the average ex-factory price of LLDPE (7042) in East China was 7,516.67 RMB/ ton on November 1 and 8,300.00 RMB/ ton on November 30, up 10.42% and 11.91% over the same period last year. The average ex-factory price of LDPE (2426H) in East China was 10,437.50 RMB/ ton on November 1 and 12,375.00 RMB/ ton on November 30, up 18.56% and 52.31% over the same period last year. The average ex-factory price of HDPE (5000S) in East China was 8,333.33 RMB/ ton on November 1 and 8,700.00 RMB/ ton on November 30, up 4.40% and 9.89% over the same period last year.

The spot trend of PE market in November can be divided into two parts. The market growth in the first half of the month is not obvious, and the three major varieties have been increased steadily. In the second half of the month, the prices of the three varieties were mainly increased, with a large range. Due to the lack of high-pressure supply, due to the impact of the shutdown of devices in Maoming Petrochemical and other enterprises, the supply decreased again, and the market supply became scarce, and the price rose, and the futures market subsequently rose sharply.

In November, with the continuous rise of prices, downstream companies have some resistance to high prices. Enterprises maintain rigid demand procurement and are more cautious. At the end of the month, the futures market fell, and the support for the spot market was limited. In terms of demand, e-commerce promoted at the end of the year, and the demand for packaging film was expected to grow, but the demand for agricultural film gradually weakened and the operating rate decreased. And the international crude oil has weakened, affecting the market mentality. At the end of November, business offers have fallen. PE market is expected to fall in December, but the range is limited.

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