SunSirs: Demand Support, China PE Price Increased

According to the monitoring of the Commodity Market Analysis System of SunSirs, the domestic price of LLDPE (7042) was 8,207 RMB/ton on August 17th, and the average price on August 24th was 8,421 RMB/ton. During this period, the quotation increased by 2.61%.

According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of LDPE (2426H) on August 17th was 9,075 RMB/ton, and the average price on August 17th was 9,450 RMB/ton, with a price increase of 4.13% during this period.

According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of HDPE (5000S) was 9,150 RMB/ton on August 17th, and the average price on August 24th was 9,212 RMB/ton. During this period, the quotation increased by 0.68%.

Last week, PE prices mainly increased, with LDPE prices experiencing a significant increase. The maintenance of high cost crude oil has a certain supporting effect on the price of PE. The supply of some PE grades is tight, and the prices quoted by production enterprises and traders have increased. The seasonal recovery of orders from agricultural film enterprises has continued, and downstream bargain-hunting and restocking behavior has increased compared to the previous period. The expected improvement in market demand has boosted market sentiment.

The PE futures market has been mainly fluctuating and rising in the past month, which has a certain boosting effect on the spot market.

The PE maintenance equipment has been restarted one after another, and the operation of the equipment has increased, with an expected increase in supply side; The peak season of demand for greenhouse film and plastic film is approaching, with an expected increase in demand, boosting market sentiment. It is expected that PE may fluctuate strongly, but the upward space is limited.

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