SunSirs: Positive News, China PE Rise in June
June 30 2023 14:53:01 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the domestic price of LLDPE (7042) was 8,014 RMB/ton on June 1, and the average price on June 29 was 8,035 RMB/ton. During this period, the quotation increased by 0.27%.
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of LDPE (2426H) was 8,120 RMB/ton on June 1, and 8,600 RMB/ton on June 29, with a rise of 5.91% during the period.
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of HDPE (5000S) was 8,937 RMB/ton on June 1st, and the average price on June 29th was 9,087 RMB/ton, with a 1.68% increase in quotation during this period.
In June, polyethylene prices experienced varying degrees of increase, with a significant increase in LDPE prices, a slight increase in LLDPE fluctuations, and a slight increase in HDPE prices. The suspension of interest rate hikes by the Federal Reserve in June and the news of domestic interest rate cuts have boosted macroeconomic sentiment, providing some support for polyethylene prices. The rise in crude oil prices at the beginning of the month is positive for the polyethylene market. In June, equipment maintenance was concentrated, resulting in an increase in maintenance losses. Market supply pressure was not significant, and production enterprises and traders continued to increase their prices, with LDPE prices rising significantly. 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.
At present, polyethylene demand is in the off-season, and enterprise parking and maintenance plans are relatively concentrated. July is still the off-season for polyethylene demand, and it is expected that polyethylene may fluctuate weakly.
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