September has passed two-thirds, the three varieties of PE spot market are quite interesting, the overall trend is first up and then down. The main reason for the price increase in the first ten days is the shortage of LDPE goods. Petrochemical enterprises have raised the ex factory prices by a large margin, and the high-pressure varieties have risen rapidly, which is the peak since 2020. The other two major varieties of LLDPE and HDPE market are dominated by this positive. But after the middle of September, the high price of PE spot market is difficult to keep, the price is loose, and the three varieties have different degrees of decline.
According to the data monitoring of the business agency, the average ex factory price of LDPE (2426h) in East China was 9837.50 yuan / ton on September 1 and 10187.50 yuan / ton on September 21, with an increase of 3.56% and 17.95% compared with August 1.
According to the data monitoring of the business agency, the average ex factory price of LLDPE (7042) in East China was 7533.3 yuan / ton on September 1 and 7500.00 yuan / ton on September 21, with a decrease of 0.44% and an increase of 4.65% compared with August 1.
According to the data monitoring of the business agency, the average ex factory price of HDPE (5000S) in East China was 8600.00 yuan / ton on September 1 and 8566.67 yuan / ton on September 21, a decrease of 0.39% and an increase of 5.76% over August 1.
Regional variety manufacturers rose and fell from September 1 to September 21
East China LLDPE 7042 Jilin Petrochemical Company 7500 yuan / ton 7500 yuan / ton 0
East China LLDPE 7042 Daqing Petrochemical Company 7500 yuan / ton 7500 yuan / ton 0
East China LLDPE 7042 Dushanzi Petrochemical Company 7500 yuan / ton 7500 yuan / ton 0
East China LDPE 2426h Daqing Petrochemical 9800 yuan / ton 10150 yuan / ton + 250 yuan
East China LDPE 2426h Lanzhou Petrochemical 9800 yuan / ton 10150 yuan / ton + 250 yuan
East China HDPE 5000S Daqing Petrochemical Company 8600 yuan / ton 8600 yuan / ton
East China HDPE 5000S Lanzhou Petrochemical Company 8600 yuan / ton 8600 yuan / ton
In early September, PE market continued to rise and LDPE returned to the era of 10000 yuan
The PE market rose sharply in late August, mainly due to the high-voltage market. Due to the large number of domestic equipment maintenance, and the import source can not be unloaded at the port, the supply of goods is tight. Large petrochemical plants have continuously raised the ex factory prices, and LDPE has risen rapidly. In September, LDPE, LLDPE and HDPE in East China showed a trend of rising first and then falling, with different ranges. Among them, the range of high-voltage products is the most prominent.
At the beginning of September, the PE spot market continued the upward trend in August and continued to take the lead. Among them, the high-pressure market is still the most obvious one, with a continuous price increase of 9.34% in the first five days of the month. LLDPE and HDPE market continued to follow the rise, but the range was not as prominent as LDPE. Subsequently, due to the negative factors in the market, the rise of PE market was limited, and the high price stable mode was opened. High pressure market for nearly 8 consecutive days, until September 13 loose. However, it is not easy for LLDPE and HDPE market to remain stable, and the decline is earlier than that of high pressure.
It’s not easy to keep stable, PE market has declined after the middle of the year
Since the end of last ten days, the PE market has declined to varying degrees. As can be seen from the above trend chart, LDPE prices are relatively strong, but LLDPE and HDPE have fallen to the prices before September 1. Due to the early high-pressure wire drawing rising too fast, this fall has become inevitable. Before the PE market fell, international crude oil has been in a continuous decline state, bringing obvious pressure on the market. And the futures market shocks downward, affecting the market mentality. Under the sufficient supply of domestic market, it is difficult for PE spot market to keep stable, and the offer fell.
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At present, the market is still good. In terms of demand, September ushered in the peak season, with the increase of manufacturers’ orders, and the overall trading atmosphere of spot markets around the spot was improved, and the demand increased. Most traders are preparing for the coming National Day holiday, and the external price keeps rising, and the import price is supported to some extent. The operator’s mentality is good, the ability to receive goods is fair.
International crude oil rebounds sharply, good news for PE market
On September 16, the U.S. WTI crude oil futures market rose sharply, with the settlement price of main contracts at $40.16/barrel, up $1.88 or 4.90%. Brent crude oil futures market prices rose sharply, the main contract settlement price to 42.22 US dollars / barrel, up 1.69 US dollars or 4.16%. The sharp rise in oil prices was mainly due to the sharp decline in US crude oil and gasoline stocks, and the superposition of Hurricane “Sally” forced a large number of us oil production to be blocked.
Upstream ethylene external market has a strong recent rise
Due to the rebound of international crude oil, ethylene market ushered in a sharp rise, which brought certain support to the PE market. Asian ethylene market prices rose, as of the 17th, CFR Northeast Asia closed at $805-815 / T, CFR Southeast Asia closed at $755-765 / T. The European ethylene market price fluctuated and consolidated. As of the 17th, the European ethylene market price was FD, northwest Europe closed at 687-698 US dollars / ton, CIF northwest Europe closed at 673-685 US dollars / ton. Ethylene prices in the U.S. rose to $523-535 per ton as of the 17th. Generally speaking, the ethylene market in Europe and the United States is on an upward trend. The demand for ethylene in the whole market is good, and the market continues to rise.
Futures market shock down mainly to the spot support is limited
On September 21, the opening price of polyethylene futures 2101 was 7375, the highest price was 7470, the lowest price was 7330, the closing price was 7425, the previous settlement price was 7365, the settlement price was 7410, up 60, or 0.81%, the trading volume was 267189, the position was 251755, and the daily increase was – 3565. (unit: yuan / ton)
PE market is easy to rise but difficult to fall
Although there are few maintenance enterprises in the market and the supply continues to grow slightly, most of the PE market stops falling and stabilizes. With the arrival of the traditional peak season of “gold, silver and ten”, the greenhouse film industry in the North has entered the peak season. The operating rate of downstream factories is gradually increasing, and the demand is still expected to increase. Moreover, the futures market and international crude oil rebounded, bringing certain benefits to the market. PE market is expected to continue the horizontal adjustment in the short term. In the long run, the market is easy to rise but difficult to fall.