According to the monitoring of the commodity market analysis system of Shengyi Society, the average price of LLDPE (7042) on February 2 was 7025 yuan/ton, and on February 5, the average price was 6918 yuan/ton, a decrease of 1.52%. The average price of LDPE (2426H) on February 2nd was 9066 yuan/ton, and on February 5th it was 8916 yuan/ton, a decrease of 1.65%. The average price of HDPE (5000S) on February 2nd was 7450 yuan/ton, and on February 5th it was 7392 yuan/ton, a decrease of 0.77%.
Recently, various varieties of polyethylene have shown an overall trend of oscillation and weakness.
Cost side: Crude oil rebounded slightly on February 3rd and 4th, but it did not change the market’s expectation of a weakening cost side, resulting in limited support for the cost side.
Supply side: The restart of facilities such as Sinochem and Maoming, coupled with the commissioning of Yulong LDPE/EVA facilities, has further increased market supply. There is an expectation of an increase in supply side, which has suppressed prices.
On the demand side: As the Spring Festival holiday approaches, downstream factories are gradually shutting down, and terminal demand has entered a seasonal off-season, with light trading and difficulty in supporting sustained price increases.
In the short term, the polyethylene market will continue to be dominated by a weak supply-demand pattern, and prices are likely to continue to fluctuate weakly.
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