Domestic PE: Inventory & Price Trend
Domestic petrochemical inventory: The inventory of polyolefins from the two oils is 765,000 tons, down 15,000 tons from yesterday.
PE spot market analysis: Today, the overall domestic PE market price showed a downward trend. Except for the small increase in low-pressure wire drawing prices in East China, the market prices in other regions fell across the board, ranging from 30 to 150 yuan/ton. The geopolitical situation has eased, and the crude oil market has reduced its concerns about supply risks.
Coupled with the poor performance of some economic data in the United States, international oil prices continue to fall, and the cost support for the PP market has weakened. Although the maintenance of the LDPE unit in the field continues, it has been affected by the large increase in the previous period and has fallen relatively significantly. In addition, the overall inventory pressure has eased. Some downstream companies have a need to replenish inventory, but they still have a resistance to high-priced sources. They are mostly waiting and expecting prices to fall, and the market trading is limited.
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 consumption season in the United States, as well as unfavorable factors such as the geopolitical situation, OPEC+ maintaining its position of increasing production, and the poor global economy. It is also necessary to pay attention to the impact of related changes on international oil prices. In terms of supply, some sources of goods are in short supply near the end of the month, and the number of newly suspended PE units has increased.
The supply pressure is not great, but with the expected release of new production capacity in the future, supply pressure may accumulate. In terms of demand, the terminal is in the traditional off-season, the number of orders is limited, and the downstream factories are operating at a relatively low level, maintaining rigid demand for raw material PE. Overall, the polyethylene market is expected to fluctuate downward in the short term.
Mainstream PE market quotes:
PE futures analysis: June 25, L2509 opening price: 7240, highest price: 7274, lowest price: 7218, position: 461763, settlement price: 7248, yesterday's settlement: 7291, drop: 43, daily trading volume: 309550 lots, deposited funds: 2.35 billion, capital outflow: 55.45 million.
Domestic PE index: According to Tuduoduo data, on June 25, the domestic HDPE spot index was 7814, down 26; the LDPE film spot index was 9718, down 134; the LLDPE spot index was 7434, down 40.
Shenhua auction statistics: Linear today's auction volume is 150 tons, and today's transaction volume is 0 tons. High pressure today's auction volume is 66 tons, and today's transaction volume is 0 tons. Today's low-pressure auction volume is 250 tons, and today's transaction volume is 250 tons.
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