SunSirs: PE Prices Were Mixed This Week (April 17-21)

Price trend

According to the monitoring of the Commodity Market Analysis System of SunSirs, the domestic price of LLDPE (7042) was 8,314 RMB/ton on April 17, and the average price on April 21 was 8,340 RMB/ton. During this period, the increase was 0.31%, and an increase of 0.79% compared to April 1.

According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of LDPE (2426H) on April 17th was 8,812 RMB/ton, and the average price on April 21st was 8,757 RMB/ton. During this period, the decline was 0.62%, and a decrease of 1.46% compared to the quotation on April 1st.

According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of HDPE (5000S) on April 17th was 8,866 RMB/ton, and the average price on April 22nd was 9,062 RMB/ton. During this period, the quotation increased by 2.21%, and an increase of 4.97% compared to April 1st.

Analysis review

This week, PE saw a narrow adjustment, with LDPE prices falling in a narrow range and LLDPE and HDPE prices rising. On the cost side, the weakening of international crude oil prices this week had suppressed the PE market. On the supply side, HDPE prices increased due to insufficient supply. Next week, the maintenance device will restart, and it is expected PE supply will increase. Downstream demand, overall demand was lower than expected. In terms of packaging film, procurement was mainly on demand; the peak season for plastic mulch film was gradually coming to an end, and the demand for plastic greenhouse film was average, with insufficient order follow-up.

Market outlook

Next week, the maintenance device will resume operation, and there are expectations of an increase in PE supply; the demand in the agricultural film market has weakened, and packaging film is mainly purchased on demand. The market demand is less than expected. PE analysts from SunSirs predict that PE may mainly adjust.

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