SunSirs: China PE Prices Increased Last Week (July 7-14)
July 18 2023 14:51:45 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the domestic price of LLDPE (7042) was 8,064 RMB/ton on July 7th, and the average price on July 14th was 8,157 RMB/ton. During this period, the quotation increased by 1.15%.
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of LDPE (2426H) on July 7th was 8,687 RMB/ton, and the average price on July 14th was 8,850 RMB/ton, with an increase of 1.87% during the period.
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of HDPE (5000S) was 9,137 RMB/ton on July 7th, and the average price on July 14th was 9,250 RMB/ton. During this period, the quotation increased by 1.23%.
Last week, polyethylene prices continued their upward trend, and in terms of costs, crude oil rose in the short term, supporting the rise in polyethylene prices. In terms of supply, there were many parking, maintenance, and decoration projects in China in July. This week, the supply side slightly decreased compared to last week, with petrochemical factories mainly increasing. In terms of demand, July is in the off-season of demand, and downstream purchases are mainly on demand.
Last week, the macro sentiment was good, providing some support for the polyethylene market. There is room for an increase in international oil prices this week, and there is little change in the supply side of polyethylene. It is expected that polyethylene will mainly rise in a narrow range.
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