According to the monitoring of the commodity market analysis system of SunSirs, the average price of LLDPE (7042) was 6,840 RMB/ton on January 16th, and 6,725 RMB/ton on January 20th, a decrease of 1.68%. LDPE (2426H) had an average price of 9,183 RMB/ton on January 16th and 9,150 RMB/ton on January 20th, a decrease of 0.36%. HDPE (5000S) had an average price of 7,262 RMB/ton on January 16th and 7,237 RMB/ton on January 20th, a decrease of 0.34%.
After several weeks of continuous rise, the market experienced a technical correction, and the weakening of futures prices also dragged down the PE spot market.
Weakened cost support: Recently, international oil prices have fallen due to the easing of geopolitical tensions such as Iran, which has weakened the cost support for PE.
On the supply side, maintenance is reduced; The pre maintenance equipment has been restarted one after another; Expected increase in import inventory, according to institutional statistics, the arrival volume of imported goods at the port increased month on month in mid to late January; Supply may increase, and supply pressure remains.
Weak demand side: Downstream product factories have insufficient orders, weakened purchasing willingness, especially as the demand for agricultural film enters the off-season and market trading is flat. Packaging film: Mainly for essential needs, the market is resistant to high prices.
With the commissioning of new facilities and the expected increase in imported inventory, there is still pressure on the supply side; Weak cost support; Downstream demand is weak, and with the Spring Festival approaching, downstream production has gradually stopped, resulting in a decrease in stocking willingness. The main focus is on consuming inventory, and it is expected that PE will operate weakly.
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