SunSirs: China PE Prices Weakened and Declined in October
November 01 2023 14:59:18 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the domestic price of LLDPE (7042) was 8,438 RMB/ton on October 1st, and the average price on October 30th was 8,207 RMB/ton. During this period, the quotation decreased by 2.74%.
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of LDPE (2426H) on October 1st was 9,612 RMB/ton, and the average price on October 30th was 9,262 RMB/ton. During this period, the quotation decreased by 3.64%.
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average ex factory price of HDPE (5000S) was 9,087 RMB/ton on October 1st, and the average price on October 30th was 8,650 RMB/ton. During this period, the quotation decreased by 4.81%.
In October, the price of polyethylene was mainly weak and downward. The price fell significantly in the first ten days. During the National Day holiday, the international crude oil market fell, and cost support for polyethylene weakened. In order to reduce inventory, the factory prices of petrochemical enterprises have been lowered, and traders have adjusted accordingly. After the holiday, market demand fell short of expectations, and in order to promote transactions, merchants often reduced prices to sell. The shutdown and maintenance of enterprises have decreased, and the supply of polyethylene is expected to increase. The demand for agricultural film is in peak season, and the market procurement is mainly based on hard demand. The demand for packaging film during the E-commerce Festival is expected to be positive.
On October 30th, polyethylene l2401 rose 1.08% to close at 8,169 RMB/ton. Polyethylene futures have an upward trend, which may boost the spot price of polyethylene.
After November, the peak season for agricultural film will end, and the demand side may come under pressure. It is expected that polyethylene will be slightly adjusted as the main component.
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