Polyethylene PE: Spot prices are stable with small fluctuations, and transactions on the market slow down(December 24, 2024)

December 25, 2024, 11:32 AM

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Highlights at a glance

This article provides an update on domestic petrochemical inventory, focusing on polyolefins with a decrease of 40,000 tons. It also covers Shenhua's auction statistics and the PE market's current stability with minor fluctuations. International oil price trends and their potential impacts on the PE market are analyzed, highlighting cautious market sentiment and expected fluctuations in the short term.

Domestic petrochemical inventory: The inventory of polyolefins of the two oils is 610,000 tons, down 40,000 tons from yesterday.

Shenhua auction statistics: Linear today's auction volume is 300 tons, and today's transaction volume is 147 tons. High pressure today's auction volume is 0 tons, and today's transaction volume is 0 tons. Low pressure today's auction volume is 0 tons, and today's transaction volume is 0 tons.

PE spot market analysis: Today, the domestic PE market as a whole showed a trend of large stability and small fluctuations. Among them, the high pressure price in East China and the low pressure film material price in North China fell, the linear price in North China rose, and the prices in other markets were temporarily stable. International oil prices showed a downward trend due to concerns about crude oil demand and Trump's promise to lift energy restrictions. The cost-side support of the PE market was generally average, and supply pressure has not yet fully appeared. The market is cautious and wait-and-see, and transactions on the market have slowed down.

PE spot trend forecast: In terms of raw materials, Huitong Finance said that crude oil prices may still be affected by the following factors: First, changes in US economic data, inflation and employment market trends will continue to affect the Fed's monetary policy decisions, and thus indirectly affect crude oil prices; second, the growth potential of the global economy, especially the recovery in demand, is still the key factor in determining whether oil prices can continue to rise. In terms of supply, the production capacity of new PE investment units on the market may be released one after another, but the market supply is still tight in the short term, especially in the LLDPE market, but the supply pressure of LDPE and HDPE products is gradually emerging, and market merchants have low-price pre-sales. In terms of demand, it is expected that the overall terminal demand will still be weak, and the downstream new orders may decrease. Although some downstream industries may recover to a certain extent due to the holiday effect, overall, the demand side's support for the PE market is still 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 24: 8089, highest price: 8104, lowest price: 8061, position: 518495, settlement price: 8083, yesterday's settlement: 8078, increase: 5, daily trading volume: 249184 lots, deposited funds: 2.94 billion, capital outflow: 71.61 million.

Domestic PE index: According to Tuduoduo data, the domestic HDPE spot index on December 24 was 8046, down 4; the LDPE film spot index was 10543, down 21; the LLDPE spot index was 8932, up 12.