Domestic PE Market: Inventory Drop
Domestic petrochemical inventory: The inventory of polyolefins of the two oils is 740,000 tons, down 15,000 tons from yesterday.
PE spot market analysis: Today, the overall domestic PE market price showed a stable but weak trend. Except for the small increase in low-pressure wire drawing prices in North China, the market prices in other regions were stable but weak, with a decline of 30-80 yuan/ton.
The crude oil market was still affected by the favorable support of the traditional peak season of consumption in the United States, and the international oil price fell back, but factors such as OPEC+'s production increase expectations limited the increase in oil prices.
The cost support of the PE market was limited, and the downstream factory orders were limited. Most downstream companies maintained a small amount of rigid demand for goods, and the trading situation on the market was general.
PE spot trend forecast: In terms of raw materials, in the short term, the crude oil market may be affected by favorable factors such as the traditional peak season of consumption in the United States, as well as the geopolitical situation, OPEC+'s maintenance of production increase, and the poor global economy.
The market is paying attention to the OPEC+ meeting this weekend. On the supply side, the number of PE units planned to restart this week is limited. Although some PE units are involved in the resumption of operation, their number is limited, and the impact of the shutdown of the units is insufficient, which has a general positive impact on the PE market.
On the demand side, downstream industries are still in the traditional off-season, and downstream companies may continue to maintain the rhythm of rigid demand purchases, providing limited support for the PE market. Overall, the polyethylene market is expected to fluctuate downward in the short term.
Mainstream PE market quotes:
PE futures analysis: July 2, L2509 opening price: 7240, highest price: 7295, lowest price: 7237, position: 443293, settlement price: 7263, yesterday's settlement: 7246, increase: 17, daily trading volume: 270161 lots, deposited funds: 2.262 billion, capital outflow: 61.85 million.
Domestic PE index: According to Tuduoduo data, the domestic HDPE spot index was 7745 on July 2, down 25; the LDPE film spot index was 9506, down 22; the LLDPE spot index was 7337, down 18.
Shenhua auction statistics: Linear today's auction volume is 500 tons, and today's transaction volume is 399 tons. High pressure today's auction volume is 100 tons, and today's transaction volume is 0 tons. Low pressure today's auction volume is 100 tons, and today's transaction volume is 0 tons.
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