According to the monitoring of the commodity market analysis system of Shengyishe, the average domestic price of LLDPE (7042) was 8,217 RMB/ton on November 20th, and 8,125 RMB/ton on November 24th, with a 1.11% decrease in quotation during this period.

According to the monitoring of the commodity market analysis system of Shengyishe, the average domestic price of LDPE (2426H) was 9,262 RMB/ton on November 20th, and 9,250 RMB/ton on November 24th, with a 0.13% decrease in quotation during this period.

According to the monitoring of the commodity market analysis system of Shengyishe, the average domestic price of HDPE (5000S) was 8,625 RMB/ton on November 20th, and 8,550 RMB/ton on November 24th. During this period, the quotation decreased by 0.87%.

Last week, polyethylene prices saw a narrow decline. Cost side: On November 23rd, international crude oil futures prices fell, and the OPEC+meeting of oil producing countries was postponed. Market expectations for a reduction in production were almost released, putting pressure on oil prices and insufficient support for polyethylene on the cost side. Supply side: The supply of polyethylene is still sufficient. Downstream agricultural film and pipe demand has weakened, market demand has weakened, with rigid demand as the main focus and limited new orders; Traders have a strong willingness to offer discounts for shipping.

On November 24th, the opening price of the polyethylene l2401 contract on the Dalian Commodity Exchange was 7,881 RMB, and the closing price was 7,934 RMB, up 56 RMB. The highest price was 7,943 RMB, and the lowest was 7,858 RMB, up 0.71%. Last week, the futures market declined, dragging down the spot market.

Oil prices are under pressure, suppressing the polyethylene market. The enthusiasm for terminal procurement has decreased, and it is difficult to achieve significant improvement in demand; The poor fundamentals of polyethylene are expected to be dominated by weak oscillations.

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