According to the monitoring of the commodity market analysis system of Shengyi Society, the average price of LLDPE (7042) was 8258 yuan/ton on February 14th and 8261 yuan/ton on February 20th, with a price increase of 0.04% during this period. LDPE (2426H) had an average price of 10083 yuan/ton on February 14th and 10183 yuan/ton on February 20th, with a price increase of 0.99% during this period. HDPE (2426H) had an average price of 8375 yuan/ton on February 14th and 8412 yuan/ton on February 20th, with a price increase of 0.45% during this period.
Recently, polyethylene has shown a strong trend of oscillation, but the upward potential is limited. On the cost side, the market is concerned that local supply may continue to tighten in the short term, and coupled with the difficulty of significantly increasing US crude oil production, international oil prices have continued to rise, providing some support for the polyethylene market on the cost side. The pressure on the supply side is still present, with stable deployment of new production capacity in the early stages, and plastic companies resuming work and production after the holiday, leading to increased market expectations; During this period (February 14-20), the domestic polyethylene plant suffered a maintenance loss of approximately 67200 tons, an increase of 12300 tons compared to the same period last week. In late February to March, spring plastic film enters the traditional peak season, with orders constantly accumulating, but the demand for greenhouse film enters the off-season. The upcoming National People’s Congress and Chinese People’s Political Consultative Conference are expected to boost demand in the commodity market, and the polyethylene market is poised for a small spring.
The pressure on the supply side is still there, and the demand for plastic film may be supported. The macro level is relatively warm, and it is expected that the upward space for polyethylene will be limited.
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