According to the monitoring of the commodity market analysis system of Shengyi Society, the domestic price of LLDPE (7042) was 8921 yuan/ton on January 1, and the average price was 8441 yuan/ton on January 22, during which the quotation fell by 5.38%.
According to the monitoring of the commodity market analysis system of Shengyi Society, the domestic price of LDPE (2426H) was 10550 yuan/ton on January 1, and the average price was 10000 yuan/ton on January 22, during which the quotation fell by 5.21%.
According to the monitoring of the commodity market analysis system of Shengyi Society, the domestic price of HDPE (2426H) was 8587 yuan/ton on January 1, and the average price was 8400 yuan/ton on January 22, during which the quotation fell by 2.18%.
The polyethylene market has been continuously declining since January. On the supply side, with the continuous increase in new production capacity in the early stage, Wanhua Chemical’s Phase II PE plant has been put into operation, and coupled with the resumption of production by the early maintenance plant, the pressure on the supply side continues to increase. On the demand side, as the Spring Festival holiday approaches, downstream demand weakens and factory operating rates decrease, with a significant decline in agricultural film operating rates. At the end of the year, merchants actively lowered their quotations to reduce inventory, mainly by offering discounts for shipments. As of Wednesday’s close, international oil prices have fallen for five consecutive trading days, with a range decline of nearly 5%, and cost support has weakened.
Since January, the trend of plastic futures has been mainly volatile and weak, which is bearish for the spot market. Among them, on January 22, the Dalian Commodity Exchange polyethylene l2505 contract opened at 7800 yuan and closed at 7777 yuan, down 56 yuan, with a high of 7813 yuan and a low of 7763 yuan, down 0.71%.
The newly added production capacity continues to increase, with the Spring Festival holiday approaching and downstream shutdowns and holidays. Market supply pressure still exists, and the fundamentals are weak. It is expected that polyethylene will continue to show a weak trend.
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