According to the monitoring of the commodity market analysis system of Shengyi Society, the average price of LLDPE (7042) was 7355 yuan/ton on September 22 and 7345 yuan/ton on September 26, a decrease of 0.14%. LDPE (2426H) had an average price of 9576 yuan/ton on September 22, and an average price of 9556 yuan/ton on September 26, a decrease of 0.21%. HDPE (2426H) had an average price of 7975 yuan/ton on September 22, and an average price of 7912 yuan/ton on September 26, a decrease of 0.78%.
Polyethylene has been running weakly this week, with a narrow price reduction. The polyethylene market has sufficient supply. On the demand side, with the National Day and Mid Autumn Festival approaching, there are expectations for downstream stocking, but there is insufficient follow-up on new orders, resulting in lower than expected demand growth and limited support for the polyethylene market. Merchants actively reduce inventory, but downstream customers have limited willingness to receive goods, resulting in a weak downward trend in polyethylene prices. On the cost side, the continuation of the Russia-Ukraine conflict triggered potential supply risks. In addition, the decline of the U.S. commercial crude oil inventory and the rise of international oil prices supported the polyethylene market to some extent on the cost side.
Polyethylene supply is sufficient, but the peak demand season is not as expected. Downstream factories have a slow increase in operating load, and procurement is cautious. It is expected that polyethylene will mainly operate in a narrow range of fluctuations.
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