SunSirs: PE Fell Mainly Fell This Week (May 8-12)
May 16 2023 14:21:45 SunSirs (John)
Price trend
According to the monitoring of the Commodity Market Analysis System of SunSirs, the domestic price of LLDPE (7042) was 8,264 RMB/ton on May 8th, and the average price on May 12th was 8,218 RMB/ton, with a decrease of 0.55% during the period.
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of LDPE (2426H) was 8,530 RMB/ton on May 8th and 8,487 RMB/ton on May 12th, with a decrease of 0.50% during the period.
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of HDPE (5000S) was 9,087 RMB/ton on May 8th, and the average price on May 12th was 9,162 RMB/ton. During this period, the quotation increased by 0.83%.
Analysis review
PE fell mainly this week, while LLDPE and LDPE prices fell. HDPE prices remained stable after rising, with limited upside space. On the cost side, international crude oil futures fell, suppressing the PE market to weaken. Enterprises lowered their prices, and traders adjusted accordingly. On the supply side, temporary parking and maintenance devices increased, resulting in a decrease in PE production. In terms of demand, agricultural film was in the off-season of demand, with poor order volume and limited procurement on demand.
Market outlook
The increase in equipment maintenance for domestic enterprises had alleviated the pressure on PE supply to a certain extent, limiting its potential for decline; the demand in the agricultural film market was not good, which was bearish for the PE market. It is expected that PE will be mainly adjusted weakly.
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