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SunSirs: China PE Prices Fluctuates recently

March 11 2024 11:10:36     SunSirs (Selena)

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LLDPE (7042) was 8,231 RMB/ton on March 1, and the average price on March 7 was 8,207 RMB/ton, with a price drop of 0.30% during the period.

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LDPE (2426H) was 9,237 RMB/ton on March 1st, and the average price on March 7th was 9,237 RMB/ton, with prices remaining unchanged during the period.

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of HDPE (5000S) was 8,407 RMB/ton on March 1st, and the average price on March 7th was 8,475 RMB/ton, with a price increase of 0.80% during the period.

Last week, PE saw mixed gains and losses, while LLDPE and LDPE saw mixed gains and losses, and some HDPE saw slight increases. The recent weak trend in futures has suppressed the spot market. The domestic PE inventory supply is sufficient, and there is significant pressure on the supply side, with the majority of inventory already consumed on site. Entering March, downstream factories are gradually increasing their production, and the market is mainly dominated by rigid demand, with weak purchasing enthusiasm and limited demand boost.

On March 7th, the PE l2405 contract on the Dalian Commodity Exchange opened at 8,166 RMB and closed at 8,149 RMB, a decrease of 10 RMB, with a maximum of 8,194 RMB and a minimum of 8,145 RMB, a decrease of 0.12%. The recent weak trend in futures has suppressed the spot market.

The supply of PE is expected to increase; As downstream factories start construction one after another, the demand for plastic film enters the peak season in March. In addition, the demand for wire drawing products is expected to recover, and the demand is optimistic. It is expected that PE will experience a strong trend of volatility, but there is limited room for upward adjustment.

 

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