SunSirs: Positive News Boost, China PE Market Operates in a Narrow and Strong Range

According to the monitoring of the commodity market analysis system of SunSirs, the average price of LLDPE (7042) was 7,441 RMB/ton on August 11th and 7,448 RMB/ton on August 18th, an increase of 0.09%. LDPE (2426H) had an average price of 9,533 RMB/ton on August 11th and 9,633 RMB/ton on August 18th, an increase of 1.05%. HDPE (2426H) had an average price of 7,987 RMB/ton on August 11th and 8,012 RMB/ton on August 18th, an increase of 0.31%.

Recently, PE has been mainly operating in a narrow and strong range. On the supply side, there has been an increase in equipment maintenance. Units such as Fushun Petrochemical, Wanhua Chemical, and Lianyungang Petrochemical have planned to shut down for maintenance, which has eased the supply pressure. On the demand side, downstream factories have increased their intention to replenish inventory, and the peak season of "Golden September and Silver October" is gradually approaching, with positive expectations on the demand side. On the cost side, the geopolitical situation is expected to further ease, coupled with the International Energy Agency's downward adjustment of global demand growth forecasts and the decline in international oil prices, the cost side support is weak. The favorable domestic policies provide certain support for the PE market.

Positive news is expected to boost, with PE showing a narrow but strong trend.

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