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SunSirs: The Demand was Lower than Expected, and the Overall PE Market Weakened in China in August
September 02 2022 10:31:31SunSirs(Selena)

According to the data monitoring of SunSirs, the domestic price of LLDPE (7042) was 8,125.71 RMB/ ton on August 1, and the average price was 7,958.57 RMB/ ton on August 31, with a decrease of 2.06% within the month and 8.34% compared with July 1.

According to the data monitoring of SunSirs, the average ex factory price of LDPE (2426H) was 10,050.00 RMB/ ton on August 1, and 9,516.67 RMB/ ton on August 31, with a decrease of 5.31% in the month and 12.96% compared with July 1.

According to the data monitoring of business news agency, the average ex factory price of HDPE (5000S) was 8,750 RMB/ ton on August 1 and 8,450 RMB/ ton on August 31, with a decrease of 3.43% in the month and 10.27% compared with July 1.

The overall trend of the domestic market of polyethylene market in August was weak, and the three spot varieties were all lowered to varying degrees. Among them, LLDPE rose at the end of the month, while the prices of LDPE and HDPE continued to fall within the month. In terms of cost, the international crude oil market fluctuated in August, which brought limited support to the market. In the month, the market supply increased, and the start-up of units such as Shanghai Petrochemical and Maoming Petrochemical brought certain bad news. In terms of demand, due to the impact of high temperature restrictions in some areas, the increase of downstream orders is limited. In addition, the improvement of agricultural film market demand is less than expected, and the benefits are limited. The overall trading atmosphere of the market is weak, the mentality of the merchants is general, and the prices are mostly low.

On August 31, the opening price of polyethylene futures 2301 was 7,700, the highest price was 7,741, the lowest price was 7,624, the closing price was 7,660, the previous settlement price was 7,735, and the settlement price was 7,692, down 75%. The trading volume was 355,888, the position was 339,030, and the daily position was increased by 7,347. (quotation unit: RMB/ ton)

On August 31, the international crude oil market was significantly lowered, and the cost was negative. In the later period, with the restart of the manufacturer's equipment, the overall supply of polyethylene market is expected to increase. However, in terms of demand, September is about to usher in the traditional peak season. The demand for agricultural film is expected to grow, and the market trading atmosphere may improve. It is expected that the PE spot market may stop falling and rise in China in September.

 

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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