PE Market: July 8 Trends
Domestic petrochemical inventory: The inventory of polyolefins of the two oils is 780,000 tons, which is the same as yesterday.
Analysis of PE spot market: Today, the overall domestic PE market price shows a weak consolidation trend. Except for the high-pressure and low-pressure wire drawing in South China and the low-pressure film and low-pressure wire drawing market prices in East China, the market prices in other regions have all been reduced, with a decline of 10-70 yuan/ton.
Although the cost side is still affected by the instability of the situation in the Middle East, the international oil price has rebounded, but some PE manufacturers have lowered their ex-factory prices, and the market has mostly followed the market.
In addition, the PE units of Dushanzi Petrochemical and Shanghai Petrochemical have been temporarily shut down for maintenance. The supply pressure is still acceptable, but the downstream is still in the off-season, the receiving capacity is limited, the supply flow in the market is not smooth, and the trading situation is weak.
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, the impact of PE unit shutdown is still relatively high, and it is expected that the changes in PE units on the site will be limited.
Only on weekends, there may be a short-term shutdown and maintenance plan for Sino-Korean Petrochemical PE units with a production capacity of about 300,000 tons. There is no obvious positive guidance on the PP market from the supply side.
In terms of demand, terminal demand is weak, the increase in new orders in the downstream is limited, the willingness to purchase raw material PE is not good, and the follow-up on the demand side is general. Overall, the polyethylene market is expected to fluctuate downward in the short term.
Mainstream PE market quotes:
PE futures analysis: July 8, L2509 opening price: 7255, highest price: 7264, lowest price: 7240, position: 448580, settlement price: 7250, yesterday's settlement: 7250, drop: 0, daily trading volume: 209361 lots, deposited funds: 2.275 billion, capital outflow: 2.31 million.
Domestic PE index: According to Tuduoduo data, the domestic HDPE spot index on July 8 was 7740, down 11; the LDPE film spot index was 9534, down 14; the LLDPE spot index was 7325, down 33.
Shenhua auction statistics: Linear today's auction volume is 400 tons, and today's transaction volume is 299 tons. High pressure today's auction volume is 216 tons, and today's transaction volume is 55 tons. Today's low-pressure auction volume is 100 tons, and today's transaction volume is 0 tons.
Our platform connects hundreds of verified Chinese chemical suppliers with buyers worldwide, promoting transparent transactions, better business opportunities, and high-value partnerships. Whether you are looking for bulk commodities, specialty chemicals, or customized procurement services, TDD-Global is trustworthy to be your fist choice.
