Domestic PE Inventory & Price Update
Domestic petrochemical inventory: The inventory of polyolefins of the two oils is 830,000 tons, down 25,000 tons from yesterday.
Analysis of the PE spot market: Today, the overall price of the domestic PE market showed a trend of range consolidation. Among them, the price of linear materials in South China and the price of low-pressure membrane materials in North China fell, ranging from 20 to 220 yuan/ton.
The market prices in other regions were stable and strong, with an increase of 20 to 130 yuan/ton. The cost-side crude oil market was affected by negative factors such as the World Bank's downward revision of global economic growth forecasts and expectations of easing geopolitical tensions.
International oil prices fell slightly, but the supply of linear and high-pressure varieties in the market was affected by the maintenance of the equipment, and the supply pressure was reduced, supporting the increase in their quotations.
The supply of low-pressure varieties was relatively abundant, and the supply pressure still existed. In addition, the downstream maintained rigid demand purchases, and traders operated cautiously, and the trading situation in the market was weak.
PE spot trend forecast: In terms of raw materials, the crude oil market may be affected by the continuation of the US sanctions policy on oil-producing countries, the US summer travel peak season and other favorable factors, as well as OPEC+'s continued position to increase production and the poor global economy.
This week, the new round of economic and trade talks between China and the United States and the US EIA inventory data are worth paying attention to. In terms of supply, the number of PE units planned for maintenance in the field in the short term is limited. In addition, some PE units that were previously shut down are planned to resume operation.
It is expected that the supply pressure in the field may gradually increase. In terms of demand, the downstream demand continues to be weak, and the arrival of the plum rain season in the south makes it difficult for the downstream to take goods. Strong support for the PE market. Overall, the polyethylene market is expected to fluctuate in the short term.
Mainstream PE market quotes:
PE futures analysis: L2509 opening price on June 11: 7105, highest price: 7124, lowest price: 7085, position: 536103, settlement price: 7105, yesterday's settlement: 7099, up: 6, daily trading volume: 253230 lots, deposited funds: 2.665 billion, capital outflow: 24.07 million.
Domestic PE index: According to Tuduoduo data, the domestic HDPE spot index on June 11 was 7648, up 17; the LDPE film spot index was 9250, up 73; the LLDPE spot index was 7260, down 6.
Shenhua auction statistics: Linear auction volume today is 580 tons, and today's trading volume is 300 tons. High pressure auction volume today is 100 tons, and today's trading volume is 100 tons. Low pressure auction volume today is 0 tons, and today's trading volume is 0 tons.
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