SunSirs: China PE Market Rise and Fall in November
November 11 2024 10:57:04 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LLDPE (7042) was 8,475 RMB/ton on November 1st, and the average price was 8,541 RMB/ton on November 7th, with a price increase of 0.79% during this period.
According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of LDPE (2426H) was 10,816 RMB/ton on November 1st, and the average price was 10,733 RMB/ton on November 7th, with a price drop of 0.77% during this period.
According to the monitoring of the commodity market analysis system of SunSirs, the domestic price of HDPE (2426H) was 8,475 RMB/ton on November 1st, and the average price was 8,500 RMB/ton on November 7th, with a price increase of 0.29% during this period.
Starting from November, the prices of PE products have fluctuated, with slight increases in linear and low-pressure product prices, and a weak trend in high-pressure product prices. Positive domestic policies have been released, and there is a positive sentiment within the market. We are exploring ways to push up prices, which has supported the PE market. The supply pressure of LDPE is expected to increase, and due to the conversion of some EVA units to LDPE, the LDPE market trend is relatively weak. The reduction of domestic maintenance facilities in November and December, coupled with the gradual production of new capacity, has led to an increase in supply expectations, limiting the upward space for PE. The peak season for agricultural film is coming to an end, and the increase in orders is gradually slowing down, with demand lower than the same period.
On November 7th, the PE L2501 contract on the Dalian Commodity Exchange opened at 8187 RMB and closed at 8,270 RMB, up 56 RMB, with a high of 8,285 RMB and a low of 8,138 RMB, up 0.68%. Recently, the trend of PE futures has been strong, supporting the spot market.
Expected increase in supply; In November, the demand for agricultural film and pipe materials gradually weakened, while the demand for packaging film was relatively good. It is expected that PE will mainly fluctuate and weaken.
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