SunSirs: PE Quotation Was Weaker in May
June 01 2023 14:09:46 SunSirs (John)
Price trend
According to the monitoring of the Commodity Market Analysis System of SunSirs, the domestic price of LLDPE (7042) was 8,350 RMB/ton on May 1, and the average price on May 30 was 8,014 RMB/ton, with a decrease of 4.02% during the period.
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of LDPE (2426H) was 8,725 RMB/ton on May 1st, and 8,107 RMB/ton on May 30th, with a decrease of 7.08% during the period.
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of HDPE (5000S) was 9,090 RMB/ton on May 1st, and the average price on May 30th was 8,937 RMB/ton, with a decrease of 1.68% during the period.
Analysis review
The focus of PE quotation in May continued to shift downwards. In May, petrochemical companies continuously lowered their prices, and traders had a poor mentality, following to lower their prices. There were many PE parking inspections in China, and the supply pressure had been alleviated. Agricultural film was in the off-season of demand, the devices that were shut down for maintenance increased. Although some factories were buying at low prices, the market demand boost was limited. In terms of pipes, the operating rate of enterprises showed a downward trend, and market transactions were not good.
Market outlook
The second quarter was a concentrated period for device maintenance, and the domestic PE supply pressure had eased. However, agricultural film is in the traditional off-season, the focus of spot prices were constantly shifting downwards and the demand side took the lead. It is expected that PE prices may be mainly weakly lowered.
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