Polyethylene PE: Spot prices are in a range, and the market has increased by more than 20,000 lots(December 18, 2024)
Domestic petrochemical inventory: The inventory of polyolefins of the two oils is 620,000 tons, down 35,000 tons from yesterday.
Shenhua auction statistics: Linear auction volume today is 240 tons, and today's transaction volume is 234 tons. High pressure auction volume today is 0 tons, and today's transaction volume is 0 tons. Low pressure auction volume today is 0 tons, and today's transaction volume is 0 tons.
PE spot market analysis: Today, the overall domestic PE market is in a range of consolidation. The prices of linear and high pressure in North China, linear prices in East China, and low pressure wire drawing prices in South China have increased, ranging from 10-100 yuan/ton, and the prices of other markets are stable and weak. Although the tight supply of some spot goods in the market supports the continued upward movement of its market price center of gravity, due to the high price, downstream companies are resistant to high-priced goods and are more cautious and wait-and-see. The shipment situation in the market is not smooth, and the supply pressure of other relatively abundant varieties has increased. Traders are appropriately making small concessions for shipment.
PE spot trend forecast: In terms of raw materials, the crude oil market continues to worry about the outlook for global crude oil demand, which may become the main factor limiting the upward space of oil prices. However, due to the approaching Christmas holiday, there may be a certain boost in demand for crude oil in Europe and the United States. It is also necessary to pay attention to the US EIA inventory data to be released tonight. In terms of supply, it is expected that the supply situation of goods in the market may continue to maintain the trend of differentiation of varieties in the short term. Among them, the tight supply of LLDPE may provide some support to its market price. However, given the poor shipment of high-priced goods, it may limit its upward space to a certain extent. In terms of demand, the overall terminal demand may remain relatively weak. Although some downstream industries have certain incremental expectations for their new orders due to the holiday effect, it is expected that the overall start-up level of the downstream will not change much, and the support for the PE market is limited. Overall, the polyethylene market is expected to fluctuate and consolidate in the short term.
Mainstream PE market quotes:
PE futures analysis: L2505 opening price on December 18: 8156, highest price: 8219, lowest price: 8156, position: 528422, settlement price: 8185, yesterday's settlement: 8174, increase: 11, daily trading volume: 306392 lots, deposited funds: 3.023 billion, capital inflow: 167 million.
Domestic PE index: According to Tuduoduo data, the domestic HDPE spot index on December 18 was 8053, down 16; the LDPE film spot index was 10638, down 7; the LLDPE spot index was 8883, up 0.
