This week, polyethylene first rapidly rose, surged, and then slightly fell back. According to data from Shengyishe Spot News, the average price of LLDPE (7042) was 7835 yuan/ton on July 13th and 8350 yuan/ton on July 17th, an increase of 6.57%. LDPE (2426H) had an average price of 10000 yuan/ton on July 13th and 10466 yuan/ton on July 17th, an increase of 4.67%. The average price of HDPE (5000S) on July 13th was 10512 yuan/ton, and on July 17th it was 10762 yuan/ton, an increase of 2.38%.
International crude oil continues to strengthen, and petrochemical production costs have risen, providing solid bottom support for polyethylene. The strengthening of costs has led to a continuous increase in the ex factory price of petrochemicals, and traders have followed suit with shipments, directly driving up the rapid rise in prices at the beginning of the week.
Centralized maintenance of domestic petrochemical facilities, tightening of spot supply in the market, continuous destocking of port inventory, and tight spot circulation have boosted market bullish sentiment, prompting traders to actively raise prices.
The downstream film and wire drawing industry is in the traditional off-season of demand, and the continuous increase in raw material prices has increased the cost pressure on factories. The overall production is sluggish, with only a small amount of purchases for basic needs maintained, and high priced goods transactions are scarce. Lack of actual purchasing opportunities from end-users.
Short term polyethylene overall maintains a high and weak oscillation pattern, with limited upward gains.
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