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SunSirs: Strong Futures Trend Drives China PE Spot Market to Rise again

February 18 2021 10:51:08     SunSirs (Selena)

According to the data monitoring of SunSirs, the average ex-factory price of LLDPE (7042) in East China was 7,850.00 RMB/ ton on January 31 and 8,016.67 RMB/ ton on February 9, with an increase of 2.12% and 1.69% compared with January 1. The average ex- factory price of LDPE (2426H) was 10,712.50 RMB/ ton on January 31 and 10,837.50 RMB/ ton on February 9, with an increase of 1.17% and a decrease of 2.58% compared with January 1. The average ex-factory price of HDPE (5000S) was 8,033.33 RMB/ ton on January 31 and 8,266.67 RMB/ ton on February 9, with an increase of 2.90% and 1.22% compared with January 1.

In February, the three major spot varieties ushered in two small rises. Among them, HDPE in East China increased the most significantly, with a rise rate of about 250 RMB/ ton. The next is LLDPE in East China, with an increase rate of about 200 RMB/ ton, and LDPE in East China has the smallest increase rate, about 150 RMB/ ton.

At present, the ex-factory price of petrochemicals rises slightly, and the cost support is acceptable. However, with the arrival of the Spring Festival, the transportation in some areas is blocked, and the downstream factories have holidays one after another, and the operating rate is obviously declining. Although the petrochemical enterprises have a strong mentality and continue to adjust the ex factory price, the market transaction atmosphere is light, and the enthusiasm for entering the market is not high. At present, the upstream inventory has accumulated to a certain extent, and the downstream is in conflict with the high price. It is expected that China PE market will be mainly consolidated and weak after Spring Festival.

 

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