SunSirs: Limited Positive News, China PE Prices Fluctuated
December 26 2023 14:51:57 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LLDPE (7042) was 8,158 RMB/ton on December 18th, and the average price on December 22nd was 8,200 RMB/ton. During this period, the quotation increased by 0.51%.
According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LDPE (2426H) was 9,075 RMB/ton on December 18th, and the average price on December 22nd was 9,075 RMB/ton. During this period, the quotation was temporarily stable.
According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of HDPE (5000S) was 8,575 RMB/ton on December 18th, and the average price on December 22nd was 8,500 RMB/ton. During this period, the quotation decreased by 0.87%.
Last week, polyethylene prices fluctuated, while LLDPE prices showed a slight upward trend. LDPE prices remained mostly stable, while HDPE prices showed a slight downward trend. The rise in international crude oil prices has to some extent supported the polyethylene market on the cost side. There are not many maintenance devices in the enterprise, and short maintenance is the main focus, with sufficient supply of polyethylene. Recently, the operating rate of packaging film companies has improved, and the demand for orders has slightly improved, mainly driven by holiday demand. Agricultural film is in the off-season of demand, and downstream market demand is poor. Due to significant supply side pressure and weak demand, HDPE prices have been lowered.
On December 22nd, the opening price of the polyethylene l2405 contract on the Dalian Commodity Exchange was 8,220 RMB, and the closing price was 8,240 RMB, up 30 RMB. The highest price was 8,279 RMB, and the lowest was 8,186 RMB, up 0.37%. This week, the trend of futures is relatively strong, driving up the polyethylene market.
The cost side and recent strong futures trend have boosted the LLDPE price trend. Overall, the demand side is mainly based on rigid demand, and low market transactions are still acceptable. The boost of other varieties is limited, and they are still mainly weak. It is expected that polyethylene may experience narrow range fluctuations.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
12.1-12.22
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