According to the monitoring of the commodity market analysis system of SunSirs, the average price of LLDPE (7042) on February 2 was 7,025 RMB/ton, and on February 5, the average price was 6,918 RMB/ton, a decrease of 1.52%. The average price of LDPE (2426H) on February 2nd was 9,066 RMB/ton, and on February 5th it was 8,916 RMB/ton, a decrease of 1.65%. The average price of HDPE (5000S) on February 2nd was 7,450 RMB/ton, and on February 5th it was 7,392 RMB/ton, a decrease of 0.77%.

Recently, various varieties of polyethylene have shown an overall trend of oscillation and weakness.

Cost side: Crude oil rebounded slightly on February 3rd and 4th, but it did not change the market's expectation of a weakening cost side, resulting in limited support for the cost side.

Supply side: The restart of facilities such as Sinochem Quanzhou and Maoming Petrochemical, coupled with the commissioning of LDPE/EVA facilities at Yulong Petrochemical, has further increased market supply. There are expectations of an increase in the supply side, which has suppressed prices.

On the demand side: As the Spring Festival holiday approaches, downstream factories are gradually shutting down, and terminal demand has entered a seasonal off-season, with light trading and difficulty in supporting sustained price increases.

In the short term, the polyethylene market will continue to be dominated by a weak supply-demand pattern, and prices are likely to continue to fluctuate weakly.

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