SunSirs: China PE Prices slightly Sorted Out Last Week (June 16-25)
June 26 2023 14:22:14 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the domestic price of LLDPE (7042) was 8028 RMB/ton on June 16, and the average price on June 25 was 8,042 RMB/ton. During this period, the quotation increased by 0.18%.
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of LDPE (2426H) was 8,500 RMB/ton on June 16 and 8,525 RMB/ton on June 25, with an increase of 0.29% during the period.
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of HDPE (5000S) was 9,037 RMB/ton on June 16, and the average price on June 25 was 9,062 RMB/ton. During this period, the quotation increased by 0.28%.
Polyethylene prices have slightly increased last week. In June, the Federal Reserve suspended interest rate hikes, leading to a rebound in macroeconomic sentiment and providing some support for polyethylene prices. There is a slight upward trend in crude oil prices, boosting the polyethylene market. In June, the equipment maintenance was at a high level, with an increase in maintenance losses and little market supply pressure. Agricultural film is in the off-season of demand, and order follow-up is limited. In terms of pipes, factory orders are gradually decreasing, and the factory's enthusiasm for receiving goods is not high. The market is mainly focused on procurement on demand.
There are maintenance plans for some polyethylene devices, and the market supply pressure has been alleviated. However, the demand for polyethylene in the market is weak, and it is expected that polyethylene may be mainly subject to fluctuations and adjustments.
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