On January 19th, Shandong Wanhua Chemical reported LLDPE 7042 in the East China region at 7,050 RMB/ton, a decrease of 150 RMB/ton; LLDPE 7050 in East China was reported at 7,100 RMB/ton, a decrease of 150 RMB/ton; LDPE 2420H (quotation including pallets) in East China is quoted at 9,015 RMB/ton, a decrease of 200 RMB/ton; HDPE 23050 in East China is quoted at 7,050 RMB/ton, and the price is temporarily stable.
The spot price fell by 150 RMB/ton to 7,050 RMB/ton, reflecting oversupply or weak demand; Combined with the closing price of PE futures contract 2605 at 6,667 RMB/ton (down 29 RMB), the trading volume was high at 411,938 lots, and the open interest increased by 13977 lots, indicating a strengthening of bearish expectations in the market and short-term price pressure.
The spot price dropped by 200 RMB/ton to 9,015 RMB/ton, indicating a significant decrease in downstream demand or increased inventory pressure; The settlement price of PE futures contract 2605 is 6,700 RMB/ton (down 29 RMB), with a significant increase in holdings and strong bearish sentiment in the market. It is expected that the futures price will continue its downward trend.
The spot price remains stable at 7,050 RMB/ton, with a relatively balanced supply and demand; PE futures fell overall, but the increase in holdings of contract 2605 showed divergence, with a neutral impact dominating and limited short-term price fluctuations.
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