SunSirs: Lack of Benefits, Narrow Range Adjustment of China PE Market
December 18 2023 15:21:33 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LLDPE (7042) was 8,090 RMB/ton on December 8th, and the average price on December 15th was 8,164 RMB/ton, with a 0.92% increase in quotation during this period.
According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LDPE (2426H) was 9,107 RMB/ton on December 8th, and the average price on December 15th was 9,082 RMB/ton. During this period, the quotation fell by 0.27%.
According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of HDPE (5000S) was 8,550 RMB/ton on December 8th, and the average price on December 15th was 8,550 RMB/ton. During this period, the quotation remained stable.
Last week, the polyethylene market mixed ups and downs, with narrow adjustments being the main focus. International crude oil has declined, and cost support for polyethylene has weakened. The maintenance equipment of petrochemical enterprises has decreased compared to the previous period, and the supply of polyethylene is sufficient. Agricultural films and pipes are in the off-season of demand, with limited new orders in the packaging film market and a poor transaction atmosphere. Downstream purchases are mainly based on low demand, and procurement is relatively cautious. Traders adjust their offers and have a strong willingness to sell at a discounted price.
On December 15th, the opening price of the polyethylene l2401 contract on the Dalian Commodity Exchange was 8,065 RMB, and the closing price was 8,126 RMB, a decrease of 73 RMB. The highest price was 8,144 RMB, and the lowest was 8,057 RMB, an increase of 0.91%.
The demand for polyethylene in the market is in the off-season and lacks effective positive guidance. It is expected that polyethylene may fluctuate weakly, with limited upward space.
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